![]() Buying your first car? You may do a better job by learning from these common mistakes 1. Do your homework and drive that internet search hard Google the name and model of the car, the dealership and check if people have complained about the car or the service from the dealership on Hellopeter. 2. Think about the real reason you want to buy that particular car Assess your budget and consider whether you're living beyond your means and remember, your car insurance premium will increase based on the type of car you purchase. 3. Test drive the car, especially if it's not a brand new car You should test drive all cars, especially second-hand cars on a hill with the air-conditioner on and, over speed bumps to determine if there are problems with the suspension. 4. Blindly trusting the salesman when it comes to used cars Car salesman aren't exactly known for being forth-coming with information about second-hand cars, especially if the car had been in an accident. Get the car tested by a third-party inspection centre and specifically ask them to look for signs of major accident damage and, then request for the key to be sent to the dealership for an a report as well as the service book. 5. Not sourcing your own financing will cost you big time The interest rate will have a major impact on the costs of the car. If you don't shop around for a finance deal with the lowest interest rate, you're likely to end up with a deal that benefits the dealership and not you. Balloon payments? This deal allows you to buy a more expensive car for a lower installment, leaving you with a once-off repayment of an outstanding lump sum. 6. Getting locked in a contract padded with adds-on Keep an eye out for the various add-ons that dealerships tend to add to the contract. The bow that you get on the car, the champagne, flowers and the gift you get when you buy the car – they're all add-ons that you end up paying for. Other add-ons to look out for are, paint protection, extended warranty, sound systems, car alarms and valets. Source: 702/Wendy Knowler; http://www.702.co.za/articles/338794/6-common-mistakes-we-ve-all-made-when-buying-our-first-car
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![]() Author: Edmond Lee So you recently bought short-term insurance, thinking that you are covered fully regardless of the circumstances? Think again. Many insurance buyers forget that insurance is based on certain fundamentals which must be adhered to in order to have continuous cover. The rationale is that although insurance is a risk transfer mechanism, there is still a responsibility for client to manage risk effectively. Below are some key ones which may be useful to you. Did you know?
Below are some key points that relate specifically to motor insurance:
We at Daberistic believe that by providing the right advice and solution to clients, we can create win-win relationships which will ultimately benefit everyone. If you are looking for advice on your short-term insurance needs, you can contact us on the following channels:
By Edmond Lee, Insurance Advisor
On any given day, if you switch on the TV, or read a magazine, or just cruising around town, it is difficult not to notice the advertisements by insurance companies – and yes, there are many of them out there. Besides the different logos and colour schemes they use, it is often difficult to tell their differences, but as the saying goes, “never judge a book by its cover”, their differences lie at the core of their business model and operations. In recent years, insurance regulators have imposed more stringent measures to ensure that customers are treated fairly. This not only levelled the playing field but also prompted brokers and insurers to enhance their business model in order to stay relevant. This includes enhancing customer experience, promoting customer engagement, upgrading system capability, improving product features, providing valued-added offerings – just to name a few. These factors ultimately determine the success of an insurer in this day and age. A success story in the South Africa short-term insurance market is Discovery Insure, which has grown exponentially since its launch in 2011. The product itself has been distinctive right from the start, with safe-driving incentives as a core part of it. In addition, as the new kid on the block, they have the luxury of utilising newest process and system which promote better efficiency. As a case in point, a client of ours phoned our emergency line on a rainy Saturday after his car skid off the road between two busy highways. The client was clearly shocked and worried - we immediately called Discovery 911 and requested help. We sent them the client’s location via Whatsapp which already made life much easier for everyone. They then dispatched a tow truck who arrived on the scene in less than an hour. And there’s more – they also dispatched a taxi to pick up the client, and since the client has selected the optional car hire benefit, he was taken to the nearest car rental depot where he picked up a rental car, and off he went. In the case above, everything was seamless and it is a great example of how internal systems and processes can enhance customer experience. For us as intermediaries, it is also imperative to choose insurers who have the capability and credibility to truly meet clients’ needs and provide help when it is needed – this is ultimately what insurance is about. We believe that by providing the right advice and solution to clients, we can create win-win relationships which will ultimately benefit everyone. If you are looking for advice on your short-term insurance needs, you can contact us on the following channels: - WeChat: daberistic - Email: [email protected] - Phone: working hours 011 658 1333. After hours:076 200 5488 By Edmond Lee, Insurance Advisor
In South Africa, having a car is a necessity which at the same time brings the risk of a motor accident. And let’s face it – motor accident is the last thing on our mind, hence when we encounter it, we often do not know what to do. The purpose of this article is to share some info on the topic, so that you are better prepared in the event of a motor accident. First and foremost, it is imperative that you remain calm and put safety first. Many people often get out of the car immediately in order to check for damages (or in some cases, argue with the other party), without first checking surroundings. This is very dangerous, particularly on a highway or major roads, hence this must be remembered. If you feel unwell after the incident, limit your movement and wait for paramedics to arrive on the scene. Secondly, you should not admit any liability. This is an accident which no one wanted to happen, so leave the liability matter to the insurer who will represent you in the case. Furthermore, record as much evidence as possible. Fortunately, these days we all have a cell phone, so you can take pictures and record key information such as: - Date, time and location of the incident - Accident scene - Damages to cars and properties - Police name and case number - Other parties’ driver license, license disc and contact details - Name and contact details of witnesses, towing trucks and other relevant parties So when should you call the police? If there are no injuries or major blockage of the road, then you don’t have to call the police – you can register the case at the nearest police station within 24 hours. If there are injuries, then the cars can only be moved after police arrives on the scene and takes proper record. In terms of towing, if the car remains derivable, then no towing service is needed. However, if you are worried that driving it may cause further damage (or the car is not derivable at all), then we suggest that you contact your insurer to arrange towing and storage by their appointed service provider to avoid any potential issues. If needed, the police has the right to tow the car for further investigation. Last but not least, remember to inform your insurance advisor after the incident and provide true and accurate information, so that the claim can be processed without delay. If you have any short-term insurance needs, you can contact us on the following channels: - WeChat: daberistic - Email: [email protected] - Phone: Working hours 011 658 1333. After hours 076 200 5488 Excess payments are among the most contentious aspects of car insurance. Here are answers to common questions about insurance excesses and tips to check on whether you have the right policy for your risk exposure and your pocket. What is an insurance excess? The excess is an amount of money that will come out of your pocket when you claim against your car insurance. For example, if you have an approved claim of R100 000 and your excess is R5 000, you will pay R5 000 and the insurer will pay R95 000. If your excess is R5 000 and the cost to repair to damage to your car is less than R5 000, you will need to pay the full amount. Why do insurers charge an excess? The excess is a way for insurers to ensure that the cost of premiums remains affordable. Without an excess, insurers would need to process high volumes of small claims, which in turn would mean it would be necessary for them to charge higher premiums. Excesses lower the insurer’s administrative costs since customers won’t claim for every small scratch or ding to their car. This is important for traditional insurers, who need to run large back-office teams and infrastructure to handle claims. They give customers a financial incentive to take care of their vehicle, since they will also need to pay towards repairs if they’re involved in an accident. They discourage people from making multiple claims that could reflect badly on their claims history. Why should you look out for in the fine print about excess payments? Often, signing up for lower monthly premiums for car insurance will mean that you will need to pay a higher excess in the event you need to claim. Most insurers are transparent about the basic excess, which may be up to 10% of the value of the damage to your car in an accident or of the total value of the car if it is stolen or written off. However, many insurers also impose extra excesses if any of the following are true:
What happens if you were not at fault in an accident? In theory, your insurer should aim to recover your excess from the driver at fault or his/her insurer and refund the money to you. In practice, 70% of cars are uninsured in South Africa, many of the drivers are unable to pay the damages, and the amounts are so small that it’s not worth pursuing legal action to recover the money. That means there’s a good chance you’ll still pay the excess when the accident is not your fault. So how do I find the policy that meets my needs? You should consider the following factors in your decision:
To get assistance with claims please contact Edmond in our Short-Term Department email [email protected], tel (011)658 -1333 Source: Personal Finance National Treasury announced an increase in Value Added Tax (VAT) from 14% to 15% effective 1 April 2018. Your short-term insurance premium is subject to VAT and will be adjusted. The new premium will be communicated to before your April debit order collection and below is some of FAQ:
General
Premium collection
Policy Amendments
For any queries regarding changes to your insurance, please contact Jan or Po-Lin in our Short Term department [email protected] tel no: (011) 658 – 1333 Source: Momentum We at Daberistic always strive to get our clients back into the same position as they were before an accident. So we assure you in walking the journey for all valid claims by offering support and assistance until the claim is finalised. We, in partnership with our service providers who have dedicated legal departments assisting in 3rd party claims, will try to recover their costs (repair cost) and your costs (excess) back from the third parties insurance company or from the 3rd party themselves. When submitting the claim it is thus imperative that you provide the following information regarding accident:
Also, you can reach us as Daberistic on the following emergency number: ?
Source: Jan Prinsloo (Daberistic Short-term broker) |
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January 2025
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