Prime Meridian Insurance
Unlike other car insurance companies, Prime Meridian does not base client’s premiums on demographics like gender, where you live, your home’s security or your income. As 70 per cent of vehicles on South African roads are not insured, Prime Meridian provides lower cost straightforward insurance to make it more affordable. In fact, their Prime Total Loss Protection gives drivers the option to insure 50 per cent, 75 per cent or 100 per cent of their vehicle.
The plans cover the vehicle for its trade price to reduce the amount insured’s pay on premiums. This means that should the vehicle be stolen or written off in an accident (that is, suffer total loss), then Prime Meridian will pay the client either 50, 75 or 100 per cent of the trade value back in cash. For a car whose retail price is R250,000, for example, 50 per cent cover would see the insured pay premiums of about R488.
Prime Meridian can also offer cheaper insurance premiums because they only insure drivers from the age of 20. This limits the number of claims they receive and therefore limits the chances of the insurer pushing up insurance premiums to make up for these. In fact, Prime Meridian car insurance premiums never increase.
Prime Meridian insurance benefits
Other than maintaining insurance premiums, the list of benefits includes no excess. Prime Meridian provide excess free insurance, while still covering the vehicle for accidental write-off, theft and hijacking as well as fire and natural disaster. What’s more, there is no inspection on the vehicle when signing up for insurance.
Despite simplifying insurance to make it more available to more drivers, they still provide third party cover by paying for claims between R10 000 and R250 000. (Claims for less than R10 000 must be covered by the driver as must the difference if the claim is more than R250 000. That is, Prime Meridian insurance will pay out R250 000, and the driver covers the rest).
Prime Meridian products