Car insurance is an absolute must when you realise that only a third of South African motorists have cover1. A practical way of describing this is that 7 out of 10 cars standing stationary at a traffic light are likely not to have car insurance cover. This means that the chances of a driver having appropriate cover when crashing into your vehicle are only 30%. No wonder motorists with comprehensive car insurance must still submit claims even though their accident was not their fault. Comprehensive car insurance is the best form of cover – let’s learn more about it.
What is comprehensive car insurance?
As the name suggests, this type of car insurance cover includes many aspects to protect your car, including natural disasters, hijacking, theft, fire, or an accident’2. When submitting a claim, you only need to pay the excess out-of-pocket. In addition, should you be involved in an accident which was partially your fault, your insurer will assist you in submitting the claim and finalising the settlement2.
While the most expensive type of cover, this is to be expected because of the great extent of the cover, protecting you from all types of scenarios2. Peace of mind is precious. You have that when you know that comprehensive car insurance protects you from any damage caused to a third party’s car.
What comprehensive car insurance does not cover
Each insurer may provide different packages of comprehensive car insurance. Besides the comprehensive car insurance policy, most insurers also offer extra benefits for the motorist2. So, it’s up to you to understand what precisely what is covered under an insurer’s comprehensive car insurance policy2. It’s important to compare online quotes to see which insurer satisfies your needs the best.
What about PMD’s Comprehensive Car Insurance?
PMD’s comprehensive car insurance includes motor vehicle accident cover and write-offs, theft and hijacking, total loss through natural fire and disaster3. Third-party vehicle liability protection extends up to R1 million per incident3. It covers your car up to 100% of its retail value at the time of the loss3. There are other benefits for you to enjoy. 24-hour roadside assistance and towing assists you when you‘ve had an accident or when your car breaks down3. Glass cover includes repairing or replacing the damaged glass of your car up to 75%. Free R10,000 accidental death cover is to assist your family should you die in a car accident3.
Disclaimer
Due to car insurance’s complexity, this article can only provide information. See a certified financial advisor for professional advice before buying a car insurance product.
If you are looking to purchase comprehensive car insurance, consider contacting PMD for their affordable, comprehensive car insurance. The option to buy car insurance online with PMD is available for your convenience.
Sources:
1https://www.news24.com/citypress/business/70-of-south-african-motorists-have-no-insurance-20210702
2https://www.motorhappy.co.za/learn/a-guide-to-car-insurance/comprehensive-car-insurance
3https://prime.co.za/car-insurance/comprehensive-car-insurance/
This article was prepared by Eric Sandmann in his personal capacity. The views and opinions expressed in this article are the author’s own. The views and opinions in the article should not be attributed to anyone but the author unless expressly stated. Nothing in this article should be relied upon as advice, this publication is presented for informational purposes only. No person should act or refrain from acting in reliance on any information found in this article, without first obtaining proper financial advice from the appropriate professional. The author makes no claims, promises or guarantees about the accuracy, or completeness, of any information linked from, referred to, or contained in this article. The author reserves the right, to edit and change the content of this article.