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Virgin may have entered the South African market as a mobile operator and credit provider, but has grown into one of the biggest direct car insurance companies. What separates Virgin car insurance from other products on the market is their innovative approach to insurance excess.
While most insurers consider excess a necessary mitigation of risk between them and the insured, Virgin car insurance reckons it defeats the purpose of vehicle cover. If insureds have to pay excess on top of their insurance premiums, they might as well self insure. As a result, Virgin car insurance does not charge an excess for vehicle damage and claims over R5 000, which applies to their comprehensive, and third party, fire and theft cover.
Virgin car insurance cover
On top of insuring the body of the vehicle and the liability of the driver, the comprehensive car insurance cover includes towing and storage. That is, if the vehicle is damaged in an accident and unable to be driven, Virgin will have it towed to the nearest repair shop, so long as you use an approved towing operator. Virgin will also provide a car hire service in the event that the vehicle is stolen.
The cover also includes the sound system (as long as it is stipulated in the cover). It also includes the windscreen and canopy for damage. It also includes medical costs up to the value of R500 per person injured in an accident.
Virgin vehicle insurance
Other than cars, Virgin insurance covers motorcycles, caravans, trailers and watercraft. As with the car insurance, Virgin motorcycle insurance covers the bike for damage, theft and third party liability that may have been caused by the driver. It includes towing and storage cover as well as accessories.
Caravan insurance is also covered comprehensively catering for damage, theft and third party liability to a maximum of R300 000. It also includes towing and storage to the nearest repair facility. Virgin insurance also have a caravan loose contents insurance policy for all the movable possessions within the caravan. This functions somewhat like a home contents insurance policy, catering for break-in, damage by fire, lightning, explosion, earthquakes, floods and more.
As with Caravan insurance, the Virgin trailer insurance policy covers the vehicle for damage and theft, but is only covered to the maximum amount as stated on the policy (or the market value of the trailer).
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