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The mere fact that you have a car is sufficient reason to have insurance cover for it. It’s a machine that can cause damage to property and worse still – injury and even death to people. With all the traffic on our roads today, the odds of your having an accident are even higher than say 10 years ago.  No arguments about it the only question you need to ask is how do I get insurance that I can afford.

In an accident you need to be covered for damage to the other driver’s car and/or medical bills incurred due to injury inflicted. There may be legal costs involved as well.  Although we install immobilizers and alarm systems, we can never guarantee that a car is never going to be stolen or damaged in an attempted theft.

When it comes to business car insurance – this is such a huge field with so many options that some insurance companies will offer to design your insurance around your business and its risk factors. Therefore, if you are a low risk client, your car could get covered for much less than what you are currently paying. That sounds like a plus in any language.

A useful addition to your business car insurance is the inclusion of access to emergency roadside assistance – 24/7 and, if you remain claim free for three years, you should get a no claim bonus. Good advice is to choose to insure your company cars and commercial vehicles at retail value rather than market value. If you are with a reputable insurer, you should get paid for storage costs or towing to the nearest repairer in the event of an accident as well as costs incurred for the removal of the wreckage and replacing locks, keys, remote controls or the reprogramming of vehicle security systems

If you do a lot of business trips – you can also apply for cover when going to countries outside South Africa (Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland and Zimbabwe). You can even get additional cover for business trips to other African countries to include Kenya, Tanzania, Uganda and Zambia as well as the DRC (all areas South of Lubumbashi).

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Why should you take out Professional Indemnity Insurance?
Unfortunately we all make mistakes and for professionals these mistakes can result in large losses for their clients. Without this insurance – how would a company afford to reimburse the client for these losses?  Even if – as a professional – you did not make a mistake, the costs of proving yourself innocent in a court could cripple the company in the same way.

Typical claims incurred on Professional Indemnity Insurance Policies
•    A lawyer did not file for a section of a claim or the insurer forgot to add a car to the policy schedule
•    An engineer or architect leaves something out of a drawing
•    An administrator enters incorrect numbers or an auditor overlooks miscalculations
•    A doctor misdiagnoses a medical problem and this effects the patient

The long and the short of it, its better to be safe than sorry and therefore covering your practice or business under an indemnity insurance will be one of the wisest moves you can make.

No One To Blame

Accidents do happen when it is not clear who is to blame for it and proving who is at fault can take up a lot of time and money on legal fees.

No fault insurance is an attempt to take the fault out of liability. The idea behind no fault insurance is that the victims own insurance pays out for medical expenses regardless of who’s fault the accident was. By doing this legal costs are eliminated.

No fault insurance does not exist in its purest form as of yet, but there are modified versions of it. Insurance companies have added on plans that increase the benefits that you receive from your insurance company.

When it comes to no fault insurance, check with your insurance company about what your options are.

Minor Damage and Insurance

It is important to try and maintain your car in such a condition that its resale value stays high. This can be quite hard to do as cars are prone to minor damage and small dents that come with it from use.

When a car has done so many kilometres or has reached a certain age, the cars motor plan will cover the general servicing of the vehicle. When this motor plan runs out, there are insurance policies that you can buy that will extend the motor warranty. The conditions of these type of policies are that the car is less then 10 years old and has less then 200 000 km on the clock.

It is also possible to take out an insurance that will cover minor repairs. The monthly premium that you will pay will ensure that you won’t have to pay excess on claims for repairs done under this plan.

This plan is a good idea, as there is a thriving used car market and it is therefore ideal to preserve one of your biggest assets. By doing this you are insuring that you will receive the highest resale value.