Top 10 Car Insurance Companies in South Africa 2023

Filed in Insurance by on January 13, 2023 0 Comments

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Top 10 Car Insurance Companies in South Africa 2023

In exchange for a premium, insurance is a method of financial loss protection in which one party agrees to compensate another in the case of a specified loss, damage, or injury. It is a method of risk management that is primarily used to protect against the risk of an uncertain or contingent loss.

A provider of insurance may be referred to as an insurer, insurance business, insurance carrier, or underwriter. A policyholder is a person or entity that purchases insurance, while an insured is a person or entity covered by the policy. In exchange for the insurer’s promise to compensate the insured in the case of a covered loss, the insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a premium payment to the insurer. The loss may or may not be monetary, but it must be quantifiable in monetary terms. In addition, it typically involves something in which the insured has an insurable interest due to ownership, possession, or a prior relationship.

 

1.Santam Insurance South Africa

 

Your car is an indispensable part of your life. Make sure it’s sufficiently protected against damage, loss, third-party claims and other risk with the right car insurance.

This cover is for any car, light delivery vehicle, motorcycle, trailer or caravan.
Cover options include:

Comprehensive: accidental loss of or damage to your vehicle, including amounts for which you are legally liable to a third party if the liability relates to the vehicle.
Limited (fire, theft and hijacking): accidental loss of or damage to your vehicle, only if the loss or damage is caused by fire, lightning, an explosion, theft or hijacking, attempted theft or hijacking, and amounts for which you are legally liable to a third party if the liability relates to the vehicle.
Third-party only: amounts for which you are legally liable to a third party if the liability relates to the vehicle.
Comprehensive car insurance includes, but is not limited to, the following benefits:

The option of replacing a vehicle after theft or loss with a similar new one, subject to terms and conditions;
The option to insure your vehicle for a guaranteed value;
Replacement costs for locks, keys and remote controls.

 

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2.Old Mutual Insurance South Africa

Our Group was established in Cape Town in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times.

Our purpose is to help our customers thrive by enabling them to achieve their lifetime financial goals, while investing their funds in ways that will create a positive future for them, their families, their communities and broader society. In this way, we significantly contribute to improving the lives of our customers and their communities while ensuring a sustainable future for our business.

We now employ more than 30 000 people and operate in 14 countries across two regions Africa (South Africa, Namibia, Botswana, Zimbabwe, Kenya, Malawi, Tanzania, Nigeria, Ghana, Uganda, Rwanda, South Sudan and eSwatini) and Asia (China)

 

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3.Momentum Insurance South Africa

Get a quote for short-term insurance that protects all that’s important to you in South Africa. At Momentum Insure, we protect more than just your car, home, and hard-earned personal belongings, we protect you and your loved ones too. As our client, here are some of the benefits and rewards you can enjoy:

  • Innovative technology with Momentum Safety Alert, a panic button feature available at the touch of a button.
  • Up to 30% cashback Safety Bonus, as part of Momentum Multiply, for good driving behaviour.
  • Free 24/7 home, and roadside assistance wherever you are, including legal and medical emergencies with Momentum Assist.

 

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4.King Price Insurance South Africa

King Price Insurance is a privately held insurance firm established in South Africa that provides short-term insurance. The company’s most well-known product is its monthly reducing vehicle insurance premium concept.

History
Gideon Galloway started King Price Insurance.
The company was founded in 2012 with initial finance from Mertech Group’s Francois van Niekerk and Nikon’s Stefan van der Walt.

The company provided monthly insurance with decreasing premiums based on the asset’s depreciation value.
King Price Insurance has registered with the South African Insurance Crime Bureau (SAICB).
Munich RE is the reinsurer for King Price insurance. The company’s headquarters are in Pretoria’s Waterkloof Glen.

 

 

5.Discovery Insurance South Africa

Discovery Limited is a South African-founded financial services organisation that operates in the healthcare, life assurance, short-term insurance, savings and investments, banking, and wellness markets.
Established in 1992, Discovery is guided by a clear purpose – to make people healthier and to enhance and protect their lives. Our core purpose has manifested in a globally relevant Shared-Value business model, with Vitality at the centre, which creates value for our businesses, clients and society.

Intelligent technology that warns you when someone else is driving your car

Up to 50% of your fuel cash back every month for driving well
Safety features like Impact Alert, which detects if you’ve been in an accident and sends immediate emergency assistance
Warnings of imminent bad weather and no excess on weather-related claims *
Up to 25% off take-me-home services with our Drive Me partners

6.Dial Direct Car Insurance

“Dial Direct are passionate about providing quality insurance products and delivering outstanding customer service. We offer value for money Car, Van and Home Insurance products, which allow our customers to select a truly comprehensive insurance product that suits their needs and lifestyle. Get your quote with us today!”

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7.AA Insurance

At AA Insurance Supermarket, we provide guidance, advice and assistance with all matters relating to your personal car and home insurance.

  • We are an independent insurance broker
  • We offer you a world of benefits from expert insurance advice, claims handling assistance and more
  • AA Members do not pay an Initial Service and Advice Fee
  • Ongoing support for your insurance products
  • Access to SuperValue benefits for you and your family
  • We bring with us the AA’s passion for consumer fairness, service excellence and trustworthiness.

Download our brochure for more information (761kb)
Download the complaints procedure (176kb)

 

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8.Hollard Insurance South Africa

Our Comprehensive Car Insurance covers your car against unforeseen events, giving you peace of mind

What Comprehensive Car Insurance* covers:

  • Covers you for loss or damage to your car.
  • Windscreen and glass repairs/replacement
  • Third-party liability cover

See what else it covers

  • Cover for your keys and remote control units
  • Transit cover while your car is being transported by sea, road, railway or air
  • Wreckage removal and cleaning up the scene of an accident
  • Transportation, towing and storage of your car after a claim event
  • Car modifications for disability
  • You can also cover your motorbike, trailers, caravan, watercraft and off-road quad bike

Note: all our car insurance benefits are subject to limits depending on the level of cover you choose.

Optional benefits at an extra premium

  • Car hire – let us arrange a rental car for you while your car is in for repairs
  • Off-road or 4×4 cover – for those off-road enthusiasts

*terms and conditions apply

The benefits described on this page apply to most of our car and home insurance policies.

We have various policies sold via our brokers – if in doubt, always consult your latest policy wording or contact your broker.

Need a car, extended car warranty, home contents, buildings, or pet insurance quote?

Go to Dotsure Limited by clicking on the link below.

Hollard has a shareholding in Dotsure, a separate licensed non-life insurer in terms of the Insurance Act.

Dotsure will gladly assist you.

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9.AIG

As the COVID-19 pandemic continues to evolve, AIG remains focused on protecting the health and safety of our colleagues and those around us, as well as continue to serve clients, policyholders, business partners and other stakeholders.

AIG is open for business. The company has activated its Business Continuity Plans and colleagues across our General Insurance and Life & Retirement businesses remain available to help meet the needs of clients and other business partners with both in-force and new business. Our call centres also remain accessible to provide support and information.

Helping individuals, businesses and communities prepare for times of uncertainty is at the heart of what we do. We are closely monitoring this evolving situation and will continue to provide updates.

 

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10.Iwyze

Comprehensive Car Insurance from Old Mutual iWYZE is truly the wisest car insurance choice you can make. It provides complete peace of mind, knowing that your vehicle is fully covered, no matter the unexpected detours owning a car might lead to! Let us call you back for a car insurance quote.

SASSA

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