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Comprehensive Car Insurance - and what does it cover?



Are you exploring the best car insurance options? Understanding insurance types can be exhausting. That is why we are bringing all the information that you would need to know about comprehensive car insurance. We will also cover what the comprehensive car insurance can cover for you.


If you have a car, you should probably be looking for vehicle insurance. Comprehensive car insurance can provide you with peace of mind through varied options. It can also help you to cover the damage that may have happened to your vehicle as a result of some accident, collision, or theft.

The
car insurance can cover every part of the cost ranging from the repairs to replacements. It can also cover the cost of damages that might have been done by some third party or some other property. Below is all you need to know about comprehensive car insurance.





What is comprehensive car insurance?

Comprehensive car insurance is an amazing car cost coverage option that you can have. It is the type of product that will lead you to a higher level of coverage that is unimaginable. It can protect the loss caused by any
car accident that can involve the other vehicle as well. It will also help you through your way of car repair by paying for the damages that may have occurred to your car due to several unwanted events.

Comprehensive car insurance can be involved in incidents like theft, vandalism or any other natural event that caused any damage. This indicates that comprehensive car insurance is a miracle that can save you from loads of monetary losses to save your pocket. It is quite clear that without the option of comprehensive car insurance, you would be putting your car and yourself at risk for paying a bulk of amounts for the repairs.

The cost of this comprehensive car insurance also varied from person to person. For instance, the person with less age and less experience of driving the car might tend to pay more for the insurance due to more risk associated with it. The cost could also vary according to the location, the value of the car, claim records, etc.

These costs could also surpass significantly to the price of the policy. Firstly, you will have to know what is the need for you to have comprehensive insurance?




Why do I need comprehensive car insurance?

This type of insurance is a must-have if you own a car. This is because it can protect you from any unusual event and help you out in any accident faced by your vehicle. This insurance will save and protect you from the loss caused against events like theft, vandalism, damage caused by a third-party and all types of legal liabilities associated with it.

What does a comprehensive car insurance cover?

·       There are several benefits of having this insurance. Here is a list of coverage options that this car insurance policy can provide to you.

·       Comprehensive car insurance can protect you from any loss of your car gets stolen

·       The insurance would also cover damages that are weather-related

·       The damages caused by vandalism will also be covered by this insurance

·       One other amazing policy of this insurance is that it will even cover any damage if your car gets hit by the third party whether it is some animal, some other entity or vehicle

·       This amazing car insurance will also help you to cover any damage caused by flood

·       The damage caused by fire will also be covered in this insurance policy

·       Another advantage of having this car insurance is that it will cover the damage even extends to anyone who is driving your car.


Even if the damage is deemed to be your fault, this insurance will cover it. This means, if your fault is not proven, the comprehensive
car insurance can cover your damage. For example, it is possible that someone has hit your car and drove off. This means you will have a premium type of coverage from risk-based on any usual circumstances.

For a comprehensive quotation on your vehicle simply leave your details on our website
www.esbrokers.co.za, its that easy.

 

Article courtesy of Biz Community South Africa


How having the right Business insurance can save you from Bankrupcy!


When it comes to Business Insurance, sometimes financial decisions to save premiums outweighs the risk of "what if something catastrophic happens".

We have been through the pain of Fire claims many tines before and lets be real, the client rarely ends off in the same or better situation prior to the loss.

This photo is a prime example of a Kawasaki motorcycle dealership going up in flames and the devastation it causes.
Having the right insurance in place can save a business from bankruptcy.

Here are a couple of TIPS on the cover that should be in place:

1) The Building
2) cover for Loss of Rent
3) Fire cover for the contents of the business
4) Business interruption (loss of profits)
5) Additional Extensions:
* Increase cost of working
* Fire brigade charges

* Disposal of salvage (debris removal)
* Additional preparation costs
* Spread of Fire Liability

There are too many to mention them all, but these are just a few examples that come to mind.

A Fire, if not caught in time, can spread very quickly and could possibly be a total loss.
When considering Business insurance always think of the worst case scenario.

For any assistance with your Business insurance please phone 031-5021922 or visit our website www.esbrokers.co.za.

Article written by Andrew Ensor-Smith (Owner at ES Brokers)

Keeping your car for longer? 14 parts most likely to fail, and how to prevent it



Nine out of 10 motorists in South Africa intend to keep their cars for longer, according to research conducted by the Automobile Association (AA).

The AA found that about four out of 10 South Africans intend to drive their cars for between five and 10 years.

It may be a good financial move to keep your vehicle for longer to save on repayments, but the older the vehicle, the higher the risk of a mechanical breakdown – often with parts that are expensive to repair. Proper, proactive maintenance is key to protect you against a mechanical breakdown, massive expenses, an accident or worse.

 




These are the parts that you should frequently inspect and maintain as they are most likely to fail on older cars:


·       Timing belts: The belt’s teeth can sheer off or it can snap in two or more pieces, leading to catastrophic engine failure and costly full engine rebuild. Warning signs: The loss of power or a loud rattling/knocking noise. 

·       Braking systemBrake pads can wear down completely, damaging brake discs and leading to complete loss of braking power. Warning signs: Grinding noise of metal to metal, preceded by an apparent loss of brake fluid due to a drop in the brake fluid level - a clear indication that the brakes are worn down. Brake hoses or brake system seals: Leaking or ruptured hoses and seals can lead to brake system failure. Generally intended for a five-year service life. Warning signs: Deterioration can lead to blockages and/or leakages at joints as well as either a spongy or hard pedal feel with limited stopping effect. Brake fluid: Absorbs moisture during use, which reduces the resistance to heat during braking and can lead to brake failure. The brake system can also deteriorate internally, requiring costly refurbishment. Brake fluid is considered old at the two-year mark. Warning signs: Brake fade (the vehicle takes longer to stop). Spongy pedal feel, or hard pedal feel. The brake fluid in the reservoir appears dirty.

·       Radiators and radiator hoses: Numerous heating and cooling cycles could see the radiator and hoses deteriorate and fail. Resultant overheating could lead to engine failure. Warning signs: The temperature gauge is in the red. Hissing sound from the radiator cap. Hoses can display signs of bulging or collapse. A loss of power may also be experienced.

·       Alternators: Failure means that the battery and the electrical system won’t be kept at the necessary charge, leading to electrical failure. Warning signs: Loud screeching noise from the alternator if its bearings are failing. The vehicle’s charge/battery light may be on constantly. The vehicle may also struggle to start.

·       Water pumps: Failure will result in the insufficient circulation of the coolant in the engine, causing the engine to overheat and, if not rectified, engine failure. Warning signs: Elevated temperature reading. Signs of water leakage at the front of the engine.

·       Shock absorbers: Failure will cause an inability to efficiently control the vehicle. Generally designed for a service life of approximately 80 000 km. Warning signs: Poor ride quality. Reduced directional stability, increased braking distance, nosediving when stopping, poor handling and increased tyre and brake wear. Fluid leaking from the shock absorbers.

·       CV joints: The CV can collapse, causing the vehicle not to move and requiring removal and replacement. It’s best to replace CV joints on both sides of the vehicle. Warning signs: You’ll hear a loud clacking sound at low speed when turning sharply.

·       Clutches: A slipping clutch will not allow the gearbox to engage fully with the engine, leaving limited or no drive. Poor driving skills, such as riding the clutch, make a clutch wear faster. Warning signs: Shuddering on pull away, the engine revs without the vehicle accelerating.

·       Engine and gearbox seals: Failure leads to loss of lubricant and engine or gearbox seizure. Warning signs: Oil leaks from the front or rear of the engine, or rear of the gearbox. High oil consumption. Oil dripping onto the road surface. Total loss of lubricant.

·       Starter motors: Bearings wear out over time, causing an increased effort to turn the engine and, very quickly, a flat battery. Warning signs: The engine will turn sluggishly and take time to start, with symptoms similar to those of a flat battery, even when the battery is still charged.

·       Oil pumps: Failure means insufficient lubricant to the engine, parts seizing/engine failure. Warning signs: The oil pressure gauge or oil level warning light will indicate low oil pressure. It’s imperative to stop immediately.

·       Engine and gearbox mountings: Failure results in the engine and gearbox not being kept in their correct position/alignment, causing damage to engine and gearbox parts. Warning signs: Engine - a loud knocking sound or vibration on start-up and pull away. Gearbox – a knocking sound or vibration during pull away and gear changes.

·       Wheel bearings: The wheel bearing can disintegrate and cause the hub assembly to detach from the vehicle. The wheel, literally, comes off, resulting in no steering control. Warning signs: A shudder in the steering wheel during braking or cornering is an early warning. A good shake of the wheel top to bottom with the wheel jacked up off the ground will indicate a slight knocking feel or sound as well.

·       Universal joints (in vehicles with rear or all-wheel drive): Failure will lead to the prop shaft dropping out of the vehicle, causing serious damage to the rear differential (“diff”) and other undercarriage parts. Warning signs: A vibration through the floor of the vehicle at speed. This is similar to the symptoms of bad wheel balancing, which should be eliminated first.

A good extended or pre-owned mechanical warranty is a smart investment to make. It can also help you out of a pickle when it comes to a rental vehicle and/or accommodation when you’re stranded far from home.

 

For Assistance with a quote on your existing or new car please contact us on 031-5021922 or visit our website www.esbrokers.co.za/contact-us.
We also offer extended Vehicle warranties

Article first appeared on Cape Talk, written by Ricardo Coetzee, Head of Auto & General
Es brokers would like to thank our Business partners for sharing such valuable content.


DATA Breach: You could be next!



As you probably know by now, the credit bureau, Experian, was hacked and it resulted in 24 million South Africans' personal data potentially being exposed. Experian reported the breach to law enforcement and regulatory authorities.  

Nischal Mewalall, CEO of the South African Banking Risk Centre (Sabric) says, "The compromise of personal information can create opportunities for criminals to impersonate you but does not guarantee access to your banking profile or accounts. However, criminals can use this information to trick you into disclosing your confidential banking details." This is one of the biggest data breaches in South Africa in terms of client records and if a bureau as big as Experian can be hacked, it can happen to anyone.




7 Ways to mitigate the risk of a data breach

It's vital for a company to protect its data, especially when dealing with clients and confidential information. Data is king!  And with this being said, on all aspects of modern life, data is captured, stored, and processed online. So how do you mitigate the risk of being a victim of a data breach? 

 Below are useful 7 tips
to help you minimize the risk of cyber threats:

1. Update Your Software Frequently 
The first step is to ensure that all IT software and operating systems are 
patched with the latest security and operational patches from the vendors. Microsoft and other vendors release monthly updates which should be applied as soon as possible. These updates contain patches that resolve the latest known exploits and vulnerabilities. Ensure that you and all of your employees update their software. 

2. Install Anti-Virus Programs 
Most AV protection suites are updated almost daily with the latest fixes to security exploits, ensuring systems are as safe as possible against virus outbreaks. If a virus signature is detected, the AV software will simply intercept and quarantine the virus, preventing the virus from spreading onto other systems.

3. Back-Up Your Data 
Make backup copies of your systems which you can roll back to in case of major incidents. One can never be too cautious!

4. Train and educate your employees
This training should typically include information about the latest security trends such as ransomware, phishing, spyware, rootkits, denial of service attacks, and viruses. Educate your users on how to spot fake URLs and attachments with bogus macro-codes embedded within, as these can be used to harvest data from a compromised system.


5. Secure the infrastructure

Choose an infrastructure that audited for security and compliance of system data, and you will take a huge step forward to achieving a secure digital platform.

6. Multi-factor authentication is vital 
Multi-factor authentication (MFA) or two-factor authentication (2FA) is another strong tool which can be utilised to help mitigate cybersecurity risks.

7. Identify threats and plan ahead
Many of these steps will help you to identify and discover vulnerable technology assets, and as you proceed through the implementation of your security strategy, ensure that everything is documented and that the documentation is regularly updated. Once internal and external threats have been identified, it is important to make a plan of how to prepare for the worst-case scenario, such as a data breach of confidential information. 

Also, remember to work out a strategy to learn from any mistakes made.

For any assistance with CyberRisk Insurance please contact our offcie on 031-5021922 or vistit our website www.esbrokers.co.za.



Atricle courtesy of Atlantic

What colour personality quadrant are you?



It is amazing that virtually no school in the world gives its students a Personality Test. Once you take this test you will have a much better understanding of who you are and what your natural tendencies are, and more importantly, you will understand the people who are not like you much more clearly, and uncover a much easier and more effective way to interact and communicate with those people. While no one can be totally defined by which of the four basic groups they fall into, once you learn how to read peoples colors (Red, Blue, Green, Yellow) you will have a competitive advantage in understanding what will be the most effective way to communicate with them.

Four quadrant personality tests are very common. The DISC test is the most popular version being used today. It is used by many Fortune 500 companies. The basic four personality groups goes back as far as 340 BC to Plato. He called the groups Choleric (Red) Sanguine (Blue) Phlegmatic (Yellow) and Melancholy (Green). We use the colors because it makes the process very simple, and as you will soon see, it lends itself more to the idea of reading others colors, rather than simply discovering your own.

After you take the test we strongly suggest you watch the video that is provided. In a very short couple of minutes, Marc will help you truly understand how to apply Personality Profiling to help you become a master communicator.

Take the test as HONESTLY as you possibly can. Most people have a tendency to answser the questions the way they wish they were, as opposed to the way they really are. By getting an honest score, you will be able to best use the information provided. We also recommend that you do not take a great deal of time with each question. While there is no time limit when the test is taken on line, there is one when you are at one of our live workshops. It should take you less than ten minutes to take the full test. You will score most accurately if you go with you initial reaction to each question instead of over analyzing each one. (if you find yourself doing that, you will probably test to be a Green)


Take your time to read the simple directions thoroughly and have fun discovering your true colors.

http://marcaccetta.com/personality-test/test/





We had the privilege of meeting Marc Accetta a few times at our Personal growth training seminars around the World.
Through Marc's living in full colour personality test, we started evolving much quicker as we understood our own personality traits as well as being able to read that of our customers.
Being able to go into meetings knowing your customers personality and buying decision is a real advantage.
I would like to take this time to personally thank Marc Acetta for transforming our life from black and white to living in Full Colour.

Drunk driving costs economy R18.2-Billion



Drunk driving accounted for 27.1% of fatal crashes in South Africa and is estimated to cost the economy R18.2-billion each year, new research revealed. The research was done by the Road Traffic Management Corporation (RTMC) in collaboration with the South African Medical Research Council and Unisa. This as the government is pushing for a 0% alcohol level for motorists with the introduction of the Road Traffic Amendment Bill. The research found that alcohol-attributed crashes accounted for the smallest proportion of cases at 5.5% while speeding stood at 52%, followed by other driver risks at 42%. It also found that pedestrians were three times more likely to die in a crash where the driver was intoxicated. RTMC spokesperson Simon Zwane said drunk driving operations had to be prioritised during the night, weekends and throughout the year as evidence showed that 55% of fatal crashes occurred at night.


“About three out of five happen over the weekends and 70% happen during non-vacation periods,” said Zwane. He recently called on law enforcement authorities to step up their drunk driving operations every night and make it difficult for drunk drivers to use public roads. This comes as minister of transport Fikile Mbalula during an alert level 2 transport directions media briefing, spoke of a bill that introduced a 0% alcohol level for all motorists. “The Road Traffic Amendment Bill was introduced earlier in June this year in parliament and introduces 0% alcohol level for all motorists,” said Mbalula. He said section 65 of the principal act had been amended as follows: “No person shall be on a public road and drive a vehicle; occupy the driver’s seat of a motor vehicle as the engine runs, while there is any concentration of alcohol in any specimen of blood taken from any part of a person’s body.” The amendment follows the recent death of three Tshwane Metro Police officers were killed in a head-on collision with a suspected drunk driver at the weekend. “We need to strengthen the law and ensure that innocent lives are saved,” said Mbalula.


To add to this article, remember that your Insurer follows the Laws set out by the department of Transport. If drivers are over the legal alcohol limit it is a policy violation and claims will not be paid.

For assistance of access to more information regarding this article you can visit our website www.esbrokers.co.za

Article courtesy of Pretoria Rekord

Pandemic highlights need for cyber risk management in SMEs



 

 

If small and medium businesses had little appetite for cyber risk management before the Coronavirus pandemic, they may have developed one now. Mobilising remote workforces, provisioning the right set of tools, managing the flow of data, keeping it secure and controlling who has access to what has likely to have caused disruptions and headaches at best. At worst, lack of cyber risk management has caused companies to grind to a complete halt.

Douw Gerber, Business Development Manager at leading South Africa-based managed IT security services company, Securicom, says that lack of cyber risk management is a factor in the higher incidence of cyber related fraud amongst small businesses during the lockdown. Citing Verizon’s Business 2020 Data Breach Investigations Report, he says that about a third (28%) of data breaches this year has involved small businesses.

 


“There are no controls in place to manage access to and the share of information. Backs ups don’t happen when they should. Cyber security tools aren’t updated as they should be. Employees are using unsecured devices to do their work. People are using third party apps to complete tasks. There is no segregation of duties. Appropriate actions aren’t taken when security incidents happen. The list goes on.”

Gerber recognises that the IT function in the average small medium sized business ranges from a one-man-band scenario to a small team that performs a range of tasks, one of which happens to be IT. Without concerted management, small businesses are at a disadvantage when it comes to deciding how to go about investing in IT, what tools they need and how they should be provisioned, managed and governed. The result is bad IT spend, tools that don’t get used to their max, poor security and more risks. 

He stresses that cyber risk management should form part of the overall risk management strategies of every business.  

“The work-from-home scenario that has burgeoned in the wake of the COVID-19 pandemic has dramatically increased companies’ exposure to cyber related threats. Companies are not in control of their data or the devices that employees are using to access company resources. When employees use their own unsecured devices for work, they make for a perfect gateway or point of attack on company networks.

“Companies should know who and what devices are accessing their networks. Restrictions should be placed on what information can be accessed, and employees need to understand what they are and why they are there. It is all part of risk management.”

“We are in a rapidly changing world where technologies are evolving all of the time in increasingly complex operating environments. The Coronavirus pandemic and the plummeting economy are making doing business more challenging than ever. It is becoming increasingly important for small and medium sized companies to strategically position ICT to build resilience and competitive advantage.” 

 

For assistance of a quotation on cyber Insurance leave your details on our website  www.esbrokers.co.za

Article courtesy of Creamer Media’s Engineering News


Car Insurance and Road Safety



Background Information to Car & Vehicle Insurance

Motor vehicle insurance has been described as a necessary evil – even if you pay cash for a motor vehicle and you are the most cautious of motorists, you are at great financial risk if you drive an uninsured vehicle.

Having a good insurance policy puts your mind at ease as you drive and this in itself is one of the biggest vehicle insurance benefits – peace of mind that should you be in an accident or have your car stolen, you are covered!

Motor vehicle insurance has become an important business and people are getting more curious about how to safeguard their cars and other vehicles against vehicle accidents, damage and theft. 

In South Africa, vehicle insurance can be quite expensive with insurance policies having strict conditions as a result of the high-risks of criminal activity and unlicensed road usage. In the UK motor vehicle insurance is compulsory and the government is pushing through tough legislation to tackle UK drivers who don't insure their cars.

Consumer education continues to be one of the biggest challenges facing the insurance industry, and most of the complaints to the Ombud for Short Term Insurance are from consumers who are not familiar with the financial services industry and insurance products.

The Arrive Alive website will provide some advice to our road users and vehicle owners about car insurance and road safety.





Basics of Vehicle & Car Insurance

Motor vehicle insurance is essentially a contract in which an insurance company assumes financial responsibility for any loss the insured may incur through damage or theft to his/her vehicle. The bottom line is that you must read your policy and the schedule and make sure that you clearly understand the terminology, terms and conditions, and any exclusion clauses.

Golden rules of car insurance are:

  • Know the promise you’re buying: When you buy the insurance you buy a promise. For years or even decades you may pay your insurer to say: “In certain circumstances that may never arrive, I will give you certain things.” You need to be sure of what these circumstances are and what you will gain from the cover.
  • Keep the promise you are making: When you buy your insurance you give your insurer much personal information such as your habits and the ways you will use the items you are insuring. If the information is wrong, sometimes even a little bit wrong, the insurer’s promise won’t hold up.
  • It is the insurer’s job to pay you what you are due and not more.

It is important to understand why you are paying a specific premium to insure your car. When your car is stolen, damaged or written off in an accident, the insurance provider will pay out an amount based on a variety of values that are determined beforehand.

These factors include:

  • The model and make of your vehicle that is insured, the age of the vehicle as well as the condition that it is in, and the replacement value of the vehicle in question. 
  • If your car is damaged, the normal procedure is the insurer will establish whether the quote to repair your car is reasonable and will ensure that all the damage is repaired. Generally, the insurer will write-off your vehicle if the cost of repairing your vehicle exceeds 70 per cent of its value. In this case, the insurer will pay out the vehicle's market value or retail value, depending on the terms and conditions of your contract. 
  • Market value, which is what most insurers payout, is the average of the retail and the trade value. Retail value is the price you pay to buy your vehicle, whether new or second-hand, from a dealer. The trade value is what a second-hand dealer will give you if you trade-in your car. 
  • If your insurer pays out market value, the amount will not be enough to replace your car with a new one.


The cost of car insurance premiums

The insurance company takes many factors into account that may affect the risk to the company of having to pay out a claim:

  • The more extensive the insurance cover, the more the policy will cost you - this is why a comprehensive cover is more expensive than third party insurance.
  • The type of vehicles such as 4x4, sporty car, family car or bakkie will influence the insurance premiums. Some vehicles simply cost more to repair than others while specific vehicles are more at risk of being stolen or hijacked. The safety offered by the vehicle will also play a role. Besides aspects such as airbags may push the premiums a bit higher because of the cost involved in replacing them.
  • The age of the vehicle will have a definite influence. This is because an older vehicle may cost less to replace, but it may be difficult to get parts for the vehicle and in general it will be more at risk of burning out or failing in one or other way. If you get a pre-owned vehicle insist on an AA test certificate to ensure that you can get lower rates.
  • Sporty vehicles will cost a bit more because of the power and speed associated with them. Drivers are more likely to be younger and less responsible than older family car drivers.
  • Factors affecting the cost of the policy will also include where you live and whether or not your car is kept in a locked garage at night
  • The premium may be reduced if the vehicle is fitted with tracking devices etc
  • Important human factors are the age of the driver, gender, driving experience, driving record, and when the person received a driver’s license. The longer you drive the more experience you gain. For this reason, people over 25 get a slight discount on their car insurance premiums. 
  • First-time drivers or drivers with no history on South African roads are penalized by paying higher premiums until they demonstrate that they are safe drivers. Drivers with a good safety record may benefit when they purchase a vehicle insurance policy by receiving lower premiums
  • The vehicle owner must confirm what the policy says about nominated drivers - future claims may be rejected if the insurance company restricted the drivers of that specific vehicle.
  • It generally costs more to insure your car separately (in a "stand-alone" policy) than it does to include it in your household contents insurance policy. 
  • You may qualify for a discounted premium - referred to in the industry as a no-claim bonus - on the comprehensive cover if you have a record of not making claims. The longer the period you have not claimed, the greater the discounted premium you can expect to pay.
  • As with all insurance, the person who takes out the insurance must pay an excess, which is the first amount payable of any claim. Even if you were not at fault in an accident, you have to pay the excess.
  • Many insurers allow you to negotiate the amount of the excess, and this also affects the cost of the premiums you pay. The higher the excess, the lower the premiums, and vice versa.



Why do I need Car/ Vehicle Insurance?

The South African vehicle hijackings and road crash statistics provide more than enough evidence to the importance of vehicle insurance. Over the last couple of years, the cost of repairs has increased dramatically and there has been a significant increase in the average cost of a claim. An increase in vehicle theft, accidents and rising repair costs force insurance companies to recalculate the risk and cost of insuring our vehicles.

With South Africa's high accident and car theft rate, you cannot afford to drive an uninsured vehicle. According to the South African Insurance Association (SAIA), about 65 per cent of South African motorists are not insured. This has far-reaching implications for all road users, whether or not they are insured.

If you are an uninsured driver, you alone are responsible for covering the costs of repairing your car or even buying a new one if it is seriously damaged. You will also bear the legal costs of trying to claim damages from another uninsured driver without the assistance of an insurer.

I need Car Insurance - what do I need to know?

The Ombudsman for Short-Term Insurance in his annual report emphasized the need to educate the public on insurance matters. The Ombudsman for Short-term Insurance in South Africa recovered a record amount of R83.9 million from insurance companies on behalf of complainants in 2007.

A staggering 67 per cent of the complaints received in 2007 related to motor vehicles. A large number of complaints arose from a lack of understanding of insurance or a failure to understand the significance of the information given to an insurer when applying for insurance.

There are many insurance companies out there and it can be quite tough deciding which to opt for.  Before getting vehicle insurance, you must get a detailed view of different insurance quotes from more than one insurance company. The car insurance quotes may be different for different companies, so it is your responsibility to carefully look into the insurance quotes and then decide which one is suitable for you and your vehicle.

  • Do your research and shop around.  Get at least three comparative quotes. 
  • Don’t make a decision based on the premium only - make sure you know about hidden costs such as additional excesses. 
  • Consider the insurer’s reputation for service, price and claim settlement turnaround times. 
  • Make sure the company you choose is a registered Financial Services Provider. You can verify its registration with the Financial Services Board which regulates all insurance companies. 
  • Take time to discuss the details of your insurance policy with the direct insurer or broker. 
  • Compare apples with apples.  This means, for example, check if your vehicle is covered for retail or market value and ensuring the excesses are similar.

Make sure you buy insurance from a reputable company- otherwise you may find that your cover is not worth the paper it is written on when you make a claim. Remember that you have a right to make an informed decision – demand all the information you need before signing a policy application!




Types of Car Insurance

The vehicle owner needs to be aware of the variety of vehicle cover options. Some of these descriptions are:

  • Comprehensive Cover: covers your vehicle for accidental damage, theft and hijack, as well as injury to other people or damage to their vehicle in an accident
  • Balance of Third Party, Fire and Theft Insurance- provides you with cover for damage to the other party's vehicle in the event of an accident, and for your vehicle in the event of loss by theft or fire.
  • Balance of the third party is the most limited form of cover. It does not cover you for damage to, or the loss of, your vehicle, but it covers the costs of damage to the other car in an accident you cause
  • Limited Cover: covers your vehicle for damage caused by fire, theft and hijack, as well as injury to other people or damage to their property, Accidental damage to your vehicle is not covered. 
  • Liability to Other People: covers you for liability to other people where an accident caused death or injury to them or damage to their property. 
  • Essential Cover: no-frills option for older, lower value vehicles where you choose the combination of and amount of coverage that you need.

Policies may also include a wide range of options and benefits. Without discussing this in-depth we would like to name just a few:

  • Bodily injury liability, property damage liability, medical payments coverage, uninsured or underinsured motorist coverage, comprehensive coverage etc, are some of the great vehicle insurance benefits available.
  • Medical payments coverage assists in paying medical expenses, even if the insured person is injured in somebody else's vehicle. Uninsured motorist coverage protects against expenses incurred as a result of an accident that is caused by another individual who is either uninsured or who has inadequate coverage. 
  • Other general vehicle insurance benefits are the cars being covered for their retail value, the fact that you will pay a fixed excess and that repairs are done is guaranteed for 12 full months. 
  • Another benefit is the provision for extending coverage to others driving your car with your permission. 
  • Twenty-four-hour emergency roadside assistance, as well as cash bonuses for not claiming, are more insurance benefits. This and many other less obvious vehicle insurance benefits are included in vehicle policies

My car/ motor vehicle is insured - what now?

It is important to see the purchase of insurance policy not as a once-off transaction! An important bit of advice is to make sure your insurance company monitors the insured value of your vehicle from year to year. Cars tend to lose value and the book value is what the insurance company will payout in case of a claim, nothing more. If you pay premiums based on the initial purchasing price, but the second-hand value is worthless, the discounted value will be paid out. There is, therefore, no reason why you should ensure your car for more than this value.

It is important to note that a comprehensive insurance premium is amongst others, made of an accident portion (major part) and a theft portion. Even though the car does depreciate it should be kept in mind that spare parts and labour generally get more expensive with the unfortunate effect that there might not be an automatic drop in premium year after year.

The best advice is to contact your insurer or broker and consult with them on whether your premium might be adjusted. 

Continue to improve your driving ability and drive with caution. Even though your car insurance is in place – you would rather like to avoid the vehicle and bodily damage!

Finding affordable Car Insurance in South Africa

Many vehicle owners are searching for ways and methods to find cheaper car insurance. They complain that they cannot afford to pay the expensive car insurance premiums. Too many drive without insurance on the roads of South Africa - a risk which is simply too large to take!  

For a competitive no obligation quote you can contact our office on 031-5021922 or leave your details on our website www.esbrokers.co.za

 

Article courtesy of Arrive Alive


Loss of Profits due to Prevention of access to your trading premises


As Business Owners we are often faced with interferences with our business and some of these interruptions can result in a Loss of Profits, leaking thousands of Rands, if not insured correctly.

One extension specifically is often over looked and that is Prevention of access.

What would happen to the clients business premiums if ( within a 10 km radius) there is destruction of or damage to, which shall prevent or hinder the use of the premises or prevent access, whether the premises or property of the insured  be damaged or not?

Here are some examples of what could happen in this scenario:
*  what if a bridge that belongs to a local authority, within a radius of 10 kilometers washes away preventing access in or out to your business 
* On in this case the insured runs a shop in a shopping centre with only one access door. As a result of a fire near the entrance, and consequent damage to the structure, it has become too dangerous for use by the public. The centre therefore has to be closed for two weeks. 
* Or the insured runs a factory in an industrial area with only one access route. Access is controlled by security guards. An underground water pipe bursts right next to the access control point. It takes the local authority a week to repair the pipe and the access route.



Now you can go one step further and also select  Prevention of access – extended cover

Again the radius has to be within  a 10 km radius of the premises. This point refers only to the premises. This therefore means any premises where the insured's items or goods are temporarily found, and access thereto is prevented, for example the premises of suppliers or clients.

Ask your Broker to make sure this extension is included. Remember if it is not stated on the schedule to be included don’t assume it is. This extensions must be requested and an additional premium is charged.

For any assistance regarding the information above please feel free to phone our office on 031-5021922 or leave your details on our website www.esbrokers.co.za.

Article written by Andrew Ensor-Smith (Director of ES Brokers)

Mauritius claims compensation from insurance company after oil leak



The MV Wakashio, a bulk carrier ship that recently ran aground off the southeast coast of Mauritius, can be seen from the coast of Mauritius, Sunday Aug. 16, 2020. (AP Photo/ Sumeet Mudhoo-L’express Maurice)


Mauritius will claim financial compensation from the insurance company of a Japanese vessel for the extensive environmental damages caused by a recent oil spill. The country announced the decision Friday following the arrest of the ship’s captain and first mate, who were charged with endangering safe navigation.

The vessel crashed into a coral reef off the coast of the nation last month, spilling tons of oil into the water.

According to reports, the Mauritian Coast Guard had advised the ship against taking the route prior to the spill, but to no avail.

“There are environmental damages. This, for sure, the state is going to claim compensation. There has been an impact. Take the reef, for example, the physical damage to the reef, the psychological damage. The lagoon, the livelihood of people living in the area whose livelihood depends on the sea, like fishes, etc. So there is a compensation part of it. All this will be processed and claimed from the government.” – Khemraj Servansing, Mauritius Police Commissioner

This satellite photo provided Monday Aug. 17, 2020 by 2020 Planet Labs, Inc. shows the MV Wakashio, a bulk carrier ship that recently ran aground off the southeast coast of Mauritius, Saturday Aug.15 2020. ( 2020 Planet Labs, Inc via AP)


The country will claim compensation for losses in the tourism and fishing sectors, as well as for the ecological damages and environmental pollution.


ES Brokers would like to congratulate our client Drizit Environmental for being part in the clean up operation in Mauritius and helping with the Environmental pollution control.

If you would like to help save Mauritius from this Ecological Disaster you can donate money by clicking on the following link: 
https://www.facebook.com/donate/591206865097535/


Article courtesy of one Amercis News Network