Car insurance got you confused? We’ve got you.

   

Jade Poole from I write words

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Car insurance

Making sense of the different types of car insurance. Handle your policy with confidence when you see how easy car insurance can be.

So, you’re trying to become a little savvier on the car insurance front - and that’s pretty cool. Luckily you’re about to find out what most people find out when they take extra time to understand insurance: it isn’t that hard.

Sure, the long documents and complex clauses and industry jargon can be overwhelming. So much so that people choose to go into their insurance contract only being 60% sure about what’s going on instead of reading and enquiring about the details of their policy. That’s not how we like to do things.

We prefer everybody to be on the same page and up to date about how their belongings are being protected. Transparency is key for us which is why our insurance is always to the point, super simple and hassle-free.

Let’s get back to basics and cover some key insurance terms before we make sense of the three different types of car insurance:

What is a premium?

Always hearing “low premium” this and “competitive premium” that but not sure what that means? It’s super easy. Your premium is your monthly payment towards your insurance. Your monthly payment will be based on your individual risk profile assessment and will grant you access to all the perks of your insurance policy.

What is an excess?

When you sign up with your insurer, you will both agree upon an excess amount.

Excess is the amount you (the insured) are responsible for paying towards your claim. For example, we have a standard amount of R2 500 that all of our policyholders have to pay towards their claim.

We always like to show our appreciation where it’s due so if you send us a picture of your car straight after an accident, we will waiver your R2 500 excess.

Please note that these prices are reflective of the date that this article was written. For up to date pricing, please follow this link.

Learn more: what is a car insurance excess?

Who needs car insurance?

Anybody who isn’t hoping to rack up tons of debt in car repair and car loan payments. Anything can happen on the roads and that means we need to be prepared for the worst so that we can always have the best outcome.

You can’t predict when things will go wrong but you can be covered for when they do.

Discover: The 5 most common causes of car accidents in South Africa

The three different types of car insurance

Now what you came here for! Each person is different and that's why we always try to tailor your coverage to your budget and your lifestyle.

1.   Third-party only

We are all about providing options even when the money flow is a little tight, which is why we offer third-party only insurance.

Third-party liability cover is for when or if you happen to cause damage to somebody else’s property - it means that the financial and personal responsibility of the damage caused falls on the shoulders of the insurer and not on yourself.

If you were uninsured, you would be footing the bill for both of you if the accident is proved to be your fault.

Read more: An all-access invite into third-party car Insurance with Oneplan

2.   Third-party, fire and theft

This cover is one small step up from third-party only cover. In the event of an accident that causes damage to another car, you will be covered for the repairs to their car. The damage to your own car will not be covered.

You will, however, be covered for theft, hijacking or fire.

3.   Comprehensive car insurance

Comprehensive car insurance is as good as it sounds and whilst it is the most expensive type of cover, it is the most reliable.

In an accident, comprehensive insurance covers damages to your vehicle plus damages to the third-party vehicle. You will also be covered for fires, theft, hijacking and other insured incidents.

How we make comprehensive insurance affordable

Comprehensive car insurance probably isn’t as unattainable as you think. In an ideal world, we would give everybody access to protection on the roads but until then, we try to offer you total control over your insurance.

Keep in control of your premiums by adjusting your excess between 5% and 70%. Simply log onto the Oneplan app or the Oneplan website and adjust your excess based on your budget.

Read more about cover you can control by choosing your excess.

Cover as much as you can and want to, at the price you can afford.

 

Yours in hassle-free car insurance,

Oneplan



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