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Insurance
#1
Car insurance in SA: 'A necessity, not a luxury'

A frightening statistic of South Africa’s roads is that between 65 and 70% of the 11.4 million registered cars in the country are not insured, reports the Automobile Association.

Link: news24


Do you have short term insurance, on your car? House?

And long term? Life insurance?


#2
I don't yet.... I need to buy, but dammit I hate it.
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#3
Car, bike, household, camera...all insured. Reckless to go without it, it could ruin you. I dropped my bike in a low speed incident because of a pedestrian. The only damage was cosmetic (a few scratches, broken indicator etc) - R15k worth of damages.

Things I do not insure is my cellphone. Granted I do not buy expensive iPhones but at R3-4k for a replacement it hardly seems worth the hassle to insure (and claim) such small amounts.
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#4
Good point. Eish guess I will have to insure my electronics in the house.
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#5
Also have insurance on all my stuff... even cellphone. Cellphone also in R4k range, think its worth while to claim it.

So many people do not have insurance...can't think how do they sleep at night... As Hamster said, it can ruin you.

I can't imagine losing my bakkie...its the only vehicle that I have.

Wonder if they will make it compulsory to have insurance on vehicles like they do in England.


#6
(06-22-2016, 02:05 PM)Spreadsheet Ranger Wrote: Good point. Eish guess I will have to insure my electronics in the house.

You should - normally they come in and steal: laptop, cellphone, tablet...easily adds up to over R20k gone...


#7
(06-22-2016, 02:08 PM)padjakkels Wrote: Also have insurance on all my stuff... even cellphone. Cellphone also in R4k range, think its worth while to claim it.

So many people do not have insurance...can't think how do they sleep at night... As Hamster said, it can ruin you.

I can't imagine losing my bakkie...its the only vehicle that I have.

Wonder if they will make it compulsory to have insurance on vehicles like they do in England.

It's compulsory when you buy a vehicle under finance.

Claiming for a small amount like R4k might affect your premiums and also your no claim bonus/discount.

If you are willing to take the risk you can up your excess and get a lower premium.
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#8
That no claim bonus/discount is a 'foefie'! Sales tactic....


#9
In 2003 I wrote off my car without being insured. I ended up paying 2 years extra for a car that didn't exist anymore. Now you'll never get me without comprehensive motorvehicle insurance. Household contents insured. House buildings insured, Life insured.

Only thing thats not insured are our cellphones. R450pm to have 3 phones insured (R9k, R5k & R4k). I have a few spare "just-in-case" phones that will be used as a back-up.

#10
This having no insurance is quite scary. I just wish one could claim the money back. I have been so blessed, never robbed never lost stuff never been in accidents it would feel like I am giving money away. Can't one rather just put money away in an emergency plan? IF insurance will be R1,5k a month if I put that away I will have 18K each year.
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#11
(06-22-2016, 04:51 PM)marco79 Wrote: In 2003 I wrote off my car without being insured. I ended up paying 2 years extra for a car that didn't exist anymore. Now you'll never get me without comprehensive motorvehicle insurance. Household contents insured. House buildings insured, Life insured.

Only thing thats not insured are our cellphones. R450pm to have 3 phones insured (R9k, R5k & R4k). I have a few spare "just-in-case" phones that will be used as a back-up.

Okay. Its actually really expensive to insure cellphones.


#12
(06-22-2016, 07:51 PM)Spreadsheet Ranger Wrote: This having no insurance is quite scary. I just wish one could claim the money back. I have been so blessed, never robbed never lost stuff never been in accidents it would feel like I am giving money away. Can't one rather just put money away in an emergency plan? IF insurance will be R1,5k a month if I put that away I will have 18K each year.

You are lucky then...whats you home address again?! Tongue

Also never been robbed or in an accident. But I did claim for burst pipes at home last winter. Was worth it.

I recently changed from Outsurance to PPS short term insurance. With Outsurance you get something back for if you do not claim. With PPS they pay you a bigger bonus at the end of the year because you used their products. You will only be able to get that bonus on retirement or death. So its a bonus for me because I will not be able to spend it now.

What about medical aid funds? Do you have that?

My dad was in ICU in 2010 for 30days...the total account worked out at about R1 million....no one have that money to pay that. Luckily he had medical aid.

I also have a medical aid fund and are on a rather cheap option as Im not really sick...but with age I will have to move up and then it gets really expensive.


#13
Medical aid I understand since in South Africa our private medical is a business these guys are in it for the money.

My father placed me on there GEMS medical aid as a beneficiary.
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#14
(06-22-2016, 09:07 PM)Spreadsheet Ranger Wrote: Medical aid I understand since in South Africa our private medical is a business these guys are in it for the money.

My father placed me on there GEMS medical aid as a beneficiary.

Normally once you start working you do not qualify as a beneficiary/dependant anymore... just check with them...







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