As an insurance policyholder, it’s important that you take time to read your policy to understand what you are and aren’t covered for.
In many instances where claims are refuted, the decision is based on a specific exclusion noted in the policy, which is sent to the consumer. Over and above this, it’s vital that you understand both your rights and obligations prior to accepting cover to avoid a potential rejection of a claim.
The different covers
Statistics prove that driving can be dangerous, and drivers should safeguard against these risks by taking out insurance to meet their needs and budget from the 3 main types:
- Comprehensive vehicle insurance is the most expensive policy but provides the best cover and protection in event of accident, theft, and, damage including flooding and fire.
- Third-party fire and theft, despite being less expensive and not covering car replacement, provides cover for damage caused by fire, theft and, hijacking.
- Third-party cover, usually the cheapest in the market, only covers damage to other vehicles in the accident.
Remember that your car insurance won’t cover you for:
- Normal wear and tear
- Intentional damage
- Loss or damage should you leave South Africa’s borders without the appropriate certificate from your insurer or broker showing you have coverage outside the country.
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