Best insurance company- Get best insurance deal in South Africa

Determining the best insurance company takes more than an Orange index. While one may offer cheaper insurance premiums, another will provide better service and quicker claims process. To find the best insurance policy, from the best insurer, you’ll have to measure them according to: premiums, service, excess and benefits.

Given that short-term insurance in South Africa has gone direct to the public, finding an insurer that is flexible, with policies that are customizable is not always easy; perhaps as easy as it is finding an insurer with unique benefits. Here we help you determine what to look out for in your quest for the best insurance.

Best insurance premiums

Despite what their TV adverts tell you, premiums matter. You’re paying for something that might happen to you, which is always a grudge purchase. The best insurance premiums are not only the cheapest, but those based on an accurate profile of your individual risk.

While most insurers assess your risk on general demographics, such as age and gender, good insurers, such as MiWay and Hollard, base their car insurance premiums on the way you drive and the amount of time you spend on the road (respectively). These insurance premiums are better, because they’re more specific to you.

Best insurance service

OUTsurance won the prestigious Ask Afrika Orange Index award for service excellence in the short-term insurance industry. This award takes into account staff friendliness, listening skills, empathy, degree of personalized attention and response times.

More than speaking with a smile, however, the best insurance service should be measured according to the speed of processing claims and number of channels available to consumers. 1Lifedirect, for example, have now made opting into a life insurance policy as simple answering a few questions on your mobile phone. That’s great service.

Best insurance excess

When it comes to excesses, you want to keep them as low as possible, while making your premiums affordable. His rules out percentage excesses, because 10% of your whole vehicle is still expensive. Of course better than fixed and percentage excesses, are no insurance excesses. Virgin have opted for a small hurdle amount payable on claiming instead of excesses.

Best insurance benefits

All insurance policies come standard with benefits. It’s what insurers in a competitive market use to lure you in. Standard insurance benefits are roadside assistance, medical assistance, towing assistance and mechanical breakdown assistance. These aren’t special. The best insurance benefits offer something more, such as Santam’s emergency accommodation and trauma treatment costs after an accident. Other benefits include bonuses which are not negated by a claim, such as that promised by MiWay.