Vehicle Insurance

[Archer]

I notice you guys have quite 'low' contents cover ...

60k of kitchen appliances? Is your toaster made of gold?

I usually make rough sums just adding the big items in each room, add on 20-50% per room (depending how much "small" stuff there is), then finally add on another 20% to the total and ask to have cover for that amount. Paying R10 extra per month is worth it to make 110% sure I'm covered properly.

 

[PsYTraNc3]

Total calculation for replacement of my stuff new is just under R250 000

I was advised to insure for more because of most insurance companies fineprint which states that if you under insure, they will only pay a set amount or percentage of replacement cost if under insured.

Best thing to do is request your insurer to do an assessment.
They will have no excuses then.

 

[PsYTraNc3]

60k of kitchen appliances? Is your toaster made of gold?

I usually make rough sums just adding the big items in each room, add on 20-50% per room (depending how much "small" stuff there is), then finally add on another 20% to the total and ask to have cover for that amount. Paying R10 extra per month is worth it to make 110% sure I'm covered properly.

Fridges are expensive
If I could get the appliances I wanted, mine would be around R100k for the kitchen.

 

[I.am.Sam]

do you insure clothes as well

cause my clothes is quite expensive given jeans are like R2k these days
and shoes are around the same

 

[TedLasso]

60k of kitchen appliances? Is your toaster made of gold?

I usually make rough sums just adding the big items in each room, add on 20-50% per room (depending how much "small" stuff there is), then finally add on another 20% to the total and ask to have cover for that amount. Paying R10 extra per month is worth it to make 110% sure I'm covered properly.

Fridges are expensive
If I could get the appliances I wanted, mine would be around R100k for the kitchen.

Exactly. The fridge I want to buy is gonna cost about R45K alone - my current one cost 10K. In my value of Kitchen appliances included Stove/Hob which comes to 25K, then washing machine, dishwasher, kenwood chef, etc, etc ... it adds up so quickly hence why I can't understand why some people's content cover appears to be low.

 

[TedLasso]

do you insure clothes as well

cause my clothes is quite expensive given jeans are like R2k these days
and shoes are around the same

I include provision for it - especially the wife's clothes. I would think my clothes / jackets / suits cost me max R30K to buy - hers probably 50-60K ... I don't like spending money on clothes But you make a good point - I need to perhaps increase the provision since most of my good stuff was bought while overseas and if I had to replace it here would be even more expensive.


What does everyone do for 'proof' of purchase. I keep scanned receipts of all big ticket items online and take pictures of certain things. Once a year (maybe should do more often) I walk around the house recording a video of everything making pointers to certain items so that if I ever need to make a claim, I can use that as supporting proof in a way. Don't know if they will actually ever accept it.

 

[Th4ndo]

Anyone with Discovery Drive?

 

[TedLasso]

Yup. Never had to make a claim so ambivalent about their service. Thought feel I am paying to much and get a better deal elsewhere and the 'vitality drive' not worth it for us. In two years - we have had no cash back at all - why? blame the SO's driving habits!

 

[Th4ndo]

Yup. Never had to make a claim so ambivalent about their service. Thought feel I am paying to much and get a better deal elsewhere and the 'vitality drive' not worth it for us. In two years - we have had no cash back at all - why? blame the SO's driving habits!

Hmm that's a shame. Cash back every year was winning me back.

 

[Quentin Legend]

He's driving a car with arguably more power than the average driver of his age should be in charge of.
I'm paying R1600 for a 2016 330d, at the age of 30. It's insured for a value of R70x 000 though. Household content, 350k, is only R150pm, if memory serves.

I also spend a lot more time on the road than the average driver of my age. I do between 3000 - 4000km per month.

I'll send out the PM's later today for all those who asked for my broker's details.

 

[Neo_za]

wow... some of your insurance premiums are quite high.

I'm paying R520pm for a 2014 Hyundai i20.
Total policy including R300 contents, R70 000 portable possessions and structure is R1250pm
27yo with my license for 6 years.
Insured with Santam through a broker.

Previous insurance was with Hollard (also through broker), parked in a high risk area in a yard (not garage) @ R620pm

Can you please share/pm your broker's contats

 

[Neo_za]

I'll send you a PM with my broker's details.

I bought a BMW 330d 2 months ago. Being 22 years old it proved quite challenging finding a broker who could provide me with a proper offer at a reasonable price.

Alexander Forbes wanted R2800 with a 15% of claim excess... Discovery wanted R4000 with a 10% of claim excess and the rest did not want to quote due to me being so young.

My broker managed to get me full comprehensive cover with zero (R0) excess for R1900 including car hire, business use etc etc.

EDIT: My premium of R1900 also includes household contents of around R200k so actual premium for the car is +-R1700.

Can you please share/pm me you broker details?
Thanks

 

[jman]

Man, I urgently need insurance on my 2011 Polo after Discovery screwed me over. Most quotes online like MiWay and Virgin Money are around R1100. Seems really pricey to me. Should include household insurance at least.

This is for a 25 year old, and I've had my license for over 7 years now, no claims

 

[Creag]

Man, I urgently need insurance on my 2011 Polo after Discovery screwed me over. Most quotes online like MiWay and Virgin Money are around R1100. Seems really pricey to me. Should include household insurance at least.

This is for a 25 year old, and I've had my license for over 7 years now, no claims

The Polo tends to be high risk to many insurers. Not sure if it still is the case, but they used to be a high theft risk. Despite your years being licensed, some insurers still load the premium a wee bit for younger drivers. If I had to choose between the 2 mentioned, it's easily MiWay.

Out of interest, what happened with Discovery?

 

[jman]

The Polo tends to be high risk to many insurers. Not sure if it still is the case, but they used to be a high theft risk. Despite your years being licensed, some insurers still load the premium a wee bit for younger drivers. If I had to choose between the 2 mentioned, it's easily MiWay.

Out of interest, what happened with Discovery?

Yeah I think it still is high risk. I thought the age was 25 and once you're over that age, you're considered less of a risk..

Well I'm also waiting for quotes from pcc I think they're called - the one that requires a degree. As well as finding the broker that some of the guys on this thread use.

Um, so discovery was insuring my vehicle under my father's policy. Today, upon enquiring about a premium increase, they found that the vehicle is in my name and immediately removed my car from the policy. This after having the car insured with them for the past 2 years or so.

 

[Creag]

...

Um, so discovery was insuring my vehicle under my father's policy. Today, upon enquiring about a premium increase, they found that the vehicle is in my name and immediately removed my car from the policy. This after having the car insured with them for the past 2 years or so.

I understand that you feel wronged in this, but Discovery's actions may not have been incorrect. If there is no financial interest in the vehicle, then your vehicle cannot be in your dad's policy. That's my understanding

 

[jman]

I understand that you feel wronged in this, but Discovery's actions may not have been incorrect. If there is no financial interest in the vehicle, then your vehicle cannot be in your dad's policy. That's my understanding

I get that, it's mostly the way in which they handled the situation. And nowhere does it stipulate that the policyholder needs to be the owner of the vehicle. Oh well, their premiums are ridiculous, so off to a broker/miway/etc

 

[Hemi300c]

I get that, it's mostly the way in which they handled the situation. And nowhere does it stipulate that the policyholder needs to be the owner of the vehicle. Oh well, their premiums are ridiculous, so off to a broker/miway/etc

There is a law in SA and its not Discovery doing wrong.
It's because you deal directly with the insurer and not through a lot of broker.
Tell them you want a refund as they would not have paint claims.
The law is that the Insured of the policy must have an insurable interest and suffer a direct financial loss in event of a loss.

Simple solution is to include your name as one of the Insureds ie Piet Pompies and Joe Pompies FTRR&I.

Joe being yourself and Piet being your dad.

I strongly suggest that you and your dad deal through a broker as this is how when policies are sold by direct insurers not all consequences and pitfalls are explained. They fvck the intent and name of insurance up.

 

[jman]

There is a law in SA and its not Discovery doing wrong.
It's because you deal directly with the insurer and not through a lot of broker.
Tell them you want a refund as they would not have paint claims.
The law is that the Insured of the policy must have an insurable interest and suffer a direct financial loss in event of a loss.

Simple solution is to include your name as one of the Insureds ie Piet Pompies and Joe Pompies FTRR&I.

Joe being yourself and Piet being your dad.

I strongly suggest that you and your dad deal through a broker as this is how when policies are sold by direct insurers not all consequences and pitfalls are explained. They fvck the intent and name of insurance up.

Hmm do you think we'd have a case in being paid back all the premiums? Would be at least R35k.

I'm busy trying to get quotes from brokers at the moment. I'll advise him to do the same

 

[I.am.Sam]

I include provision for it - especially the wife's clothes. I would think my clothes / jackets / suits cost me max R30K to buy - hers probably 50-60K ... I don't like spending money on clothes But you make a good point - I need to perhaps increase the provision since most of my good stuff was bought while overseas and if I had to replace it here would be even more expensive.


What does everyone do for 'proof' of purchase. I keep scanned receipts of all big ticket items online and take pictures of certain things. Once a year (maybe should do more often) I walk around the house recording a video of everything making pointers to certain items so that if I ever need to make a claim, I can use that as supporting proof in a way. Don't know if they will actually ever accept it.

i have never taken pics ..need to soon

i need to create a file on the cloud somewhere for this