Insurance is the act of indemnifying the risk, caused to another person. Conversely, reinsurance is when the insurance company takes up insurance to guard itself against the risk of loss. The two concepts are very similar to each other but may differ in they way; they are applied.
Old Mutual
Old Mutual car insurance stands out with its “DriveSave” program, which leverages telematics technology to reward safe driving behaviour with discounts of up to 20% for its policyholders. The brand is also committed to sustainability through their “Greenlight” initiative, where policyholders who drive eco-friendly vehicles are eligible for discounts.
OUTsurance
OUTsurance offers standard car insurance with a wide range of benefits. This includes a fixed excess no matter how large your claim is and 12 months of unchanging premiums even if you submit a claim during this time. Policyholders also enjoy a cash OUTbonus, which gives them 10% of their premiums back after a three-year claim-free period.
Santam
Santam’s slogan, ‘Insurance good and proper,’ sums up the kind of service you can expect from them. They guarantee that you’ll be paid out should your vehicle be written off or stolen and provide 24/7 emergency services for free to their clients.
Pineapple
Pineapple car insurance disrupts the industry with its unique “Insure with Friends” model, allowing policyholders to form groups with friends and share unused premiums at the end of the year. Their innovative self-service platform lets customers manage their policies independently, from quote generation to policy adjustments.
iWYZE
iWYZE car insurance provides affordable yet comprehensive coverage, with a focus on simplicity and transparency. A product of Old Mutual, it distinguishes itself with its “Cash Back Plus” feature that rewards safe driving behaviour with moneyback incentives.
FNB
To keep your ride on the move, choose FNB car insurance. FNB lets you apply for insurance on their app and you can earn up to 15% of your premium back in eBUcks every month. Their comprehensive plan includes a repatriation benefit if you break down in certain African countries outside South Africa, as well as roadside and emergency medical assistance.
Discovery
Discovery offers motorists market-leading cover at great prices. Their members enjoy benefits such as paying no excess on certain claims, the option to write off their car at a lower level of damage, and the opportunity to join Vitality Drive, the driver behaviour programme that rewards good driving habits.
Absa Bank
Absa Bank offers car insurance in two ways: through their app-based Activate plans or iDirect, which you can purchase via their call centre. They have an easy-to-use self-service portal as well as value-adds like credit shortfall cover, scratch and dent cover and mechanical breakdown warranty.