CK Insurance Brokers cc

When the Fais Legislation came out it was required that a Broker needs to obtain a signed letter of Consent from the Client before they can obtain any quotes for them.

The reason this is done, it to actually protect the client.

As a Broker, when phoning different Insurance companies, or obtaining quotes online, I need to give out the Client’s personal information like:
Name
Surname
Address
Identity Number

This information is only allowed to be used for quoting purposes and dealing with the clients Insurance needs.
It is never allowed to be given out to any Marketing company or misused in any form.
As per the POPI Act – Protection of Personal Information Act.

If you only call on clients and it is your own personal vehicle, then you can put it on your personal policy for Business use.

If you deliver items to clients, then it falls under a Commercial Policy.

On a Commercial policy anyone can drive that vehicle provided that they have your permission and a valid driving license.

– Turn off the geyser electrical isolator switch on DV board.

– Turn off the water mains and stopcock fitted to the inlet pipe
of the geyser.

– Open all the hot water taps in your house to relieve the pressure inside the geyser, this will lessen the amount of water pouring out the burst geyser.

– Move any furniture or valuables away from the water.

– Contact your Broker or Insurance company, they will have a 24/7/365 Emergency number for you to contact them.

Does picking a red vehicle mean you have a higher risk of an accident? And will this influence your insurance premium? There are many myths surrounding vehicle insurance and, like all myths, some are truer than others! It’s important to bust the ‘bad’ ones and be cognisant of the myths that prove true as these could have financial implications for you. As a first-time car buyer especially, it can be tricky to separate fact from fiction.

Having an insurance checklist in place when purchasing a vehicle should be a must – it’s a significant asset and you’re going to want to protect your new ‘baby’. But like any first-time delve into unchartered territory, there are always misconceptions. Some common myths for vehicle insurance include the following:

Vehicle premiums should decrease as the vehicle value decreases
Mechanical breakdowns are covered by a vehicle policy
Insurance is only required and necessary if the vehicle is on a hire-purchase agreement
When choosing an insurer, the most important factor is the monthly premiums you pay
“When deciding on insurance for your vehicle, it is important that your decisions aren’t based on insurance premiums solely,” says Marius Steyn, Personal Lines: Underwriting Manager at Santam. “Motorists need to take into consideration the policy terms, including what the vehicle is covered for and applicable exclusions, driver restrictions as well as the first amount payable by you in the event of loss or damage.”

To ensure that motorists are covered in instances where something could go wrong, Steyn debunks the common myths of vehicle insurance below:

Myth 1: Colour choice plays a major role in premium costs
This varies from insurer to insurer. Statistics have shown that red and black vehicles are a higher risk for accident damage than white vehicles. At Santam, colour is not considered.

Myth 2: It costs more to be insured as the driver gets older
False – it actually works in reverse. Younger persons or persons with a driver’s license for shorter periods of time are a higher road risk due to their perceived inexperience, which justifies a higher premium.

Myth 3: If another person drives the insured’s car, the other person’s motor insurance will cover them in the event of an accident
False – the other person’s insurance would cover the third-party damage caused in the accident. The insurer of the vehicle would normally cover the damage to the vehicle. It is advisable that the policyholder checks this upfront with their insurer to avoid any surprises.

Myth 4: Personal motor insurance covers business use of the car
False – A policyholder has the option to insure the vehicle for business and private use. Insurers will only allow business use to businesses that meet their criteria.

Myth 5: The insurance will pay out if I was a victim of remote jamming
Partly true – most insurers exclude remote jamming and require that the theft be accompanied by forcible and violent entry into and out of the vehicle. At Santam, we do not exclude theft by means of car jamming, but if it can be proven that there was never an attempt to lock the vehicle, the claim may be rejected.

Myth 6: The policy will cover damage caused by potholes
Circumstantial – claims of this nature are dependent on the situation. Motorists are also able to claim from SANRAL (The South African National Roads Agency).

Myth 7: Males pay more than females for car insurance
True – for most insurers this is correct as females are perceived to have a lower risk profile.

“Motorists are advised to ensure that they have the proper insurance cover in place. It’s important to ensure you’re adequately insured. Speak to a broker to fully understand your insurance policies without making assumptions,” concludes Steyn.

Article by Santam Oct 11, 2019

I often receive calls from clients who say please quote me on a new ……vehicle and how much will the premium be ?

It is not that easy, there is a lot of info that is required before a quote can be done properly.

– Some brands of vehicles bring out 10 new models in one year, I need to know the year of manufacture, model of vehicle, the MMCode is helpful here,
– Do you require Fully comprehensive, 3 party F&T, or just 3rd Party cover.
– Is vehicle used for Private or Business use.
– Who is registered owner, who is driver, when did they obtain their license, what code, any restrictions.
– What security vehicle has.
– Are there any additional extra’s on vehicle and values.
– Where is vehicle parked Day and Night.
– Do you need Car Hire, Credit short fall, waiver of excess.
– Sasria cover.
– Any current damage on vehicle.
– Colour of vehicle, is it metallic paint.

It is also taken into consideration the area that the client lives, their age, etc.

Everywhere you go now days you hear of Insurance Companies advertising cheaper Insurance, and that they will beat your quote, or pay you so much if they can’t or pay you so much for your friends details….

But did you know that when you do go direct, you do not have anyone that will advise you for Your needs, Instead they sell you what they want you to have, not what you need.

Over the years I have also noticed that some companies come in a lot cheaper, but when you actually read the policy carefully you notice that some of the cover has not been included.
To the average person it might not seem like anything important, but at claim stage it becomes important, but then it’s too late.
Don’t get caught.

It is important to have a Broker, one who is qualified and Licensed to offer advice and who can make sure you are correctly Insured.