Standard Bank Car Insurance
November 5, 2018
Established over 150 years ago, Standard Bank has made a name for itself in South Africa’s financial services sector.
Standard offer a comprehensive range of products for all citizens by using their extensive knowledge of the market gained over the years.
The Standard Bank Insurance Brokers portfolio includes personal insurance, loan cover, building insurance and car insurance. The car insurance policies offer a variety of products geared at people with different lifestyles and different income levels.
Like other insurers, the bank offers three main types of cover: Comprehensive, Third-party fire and theft and Third party only.
Types of Standard Bank Car Insurance
Comprehensive Insurance is for owners of new cars or second-hand cars that are of high value. Should you be involved in an accident not only do the other party get compensated but your repairs get paid as well.
If the injured party decides to litigate, you will not need to pay your lawyer from your funds. A comprehensive policy also covers you against loss by fire or specified natural calamities. If your car gets stolen, you get compensated.
The Third party Option
If you have an old car or one of little value, Standard will recommend a more limited kind of cover; either Third party only or Third-party fire and theft.
Third-party only will only pay out damage or loss caused by you to another motorist. You have to pay for your repairs. Third-party fire and theft, however, will extend the cover beyond loss caused to other parties to loss caused to you by fire and theft.
Given the difference in benefits offered by these policies, you would expect their premiums to differ, and they do. To find which premiums you would be most comfortable paying for, get a quote from the Standard Bank website.
Standard Bank’s car insurance has additional benefits on top of the standard compensation for the different levels of cover. Provided they have a valid South African driving license, your policy covers another driver using your car.
When you claim in such an instance, you need to pay a specified excess.
Another benefit is the 24-hour roadside and emergency assistance. This feature is useful when your vehicle breaks down in a remote location and cannot move.
Standard Banks renowned reputable service supports you all the way. Their well-trained, highly motivated staff will be eager to help you get the most out of your policy.
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All info was correct at time of publishing