Virgin Money Insurance Clients Move to Dial Direct
December 7, 2016
Today, insurance is big business, not just for their cars or their lives. The most common are car insurance, as in many countries it’s law to have car insurance. Life and property insurance is also becoming more common as people try to insure their families wealth. Although many companies offer car insurance, some companies have their policies underwritten by a few of the larger insurance companies. In South Africa, this was the case.
Why Do Virgin Money Insurance Clients Move?
As far as the financial agreement between Virgin Insurance and Dial Direct goes. They have co-operated since 2010. However, they have now mutually agreed to go their separate ways. If you have car insurance with Virgin Money Insurance, this will not affect you in any way as Dial Direct will still honour any policy made in South Africa with Virgin Insurance. If you are waiting on any paperwork from Virgin, when you receive it, it will probably have Dial Directs details on. There is nothing unusual about this as Dial Direct would have underwritten the Virgin policy and so would have ultimately paid any claims you would have made.
There are many insurance companies offering car insurance. Although, apart from price, there is a small difference between any of their basic policies. It makes little difference which insurance company you take your policy out with. But, it is critical that whatever policy you do take out and with whichever company you take it out with, you fully understand all the terms. The reason for this is that in the recent years of South Africa, the number of claims that have been rejected has risen. Although the causes of the rejections have varied, they have almost always been due to the insured not fully understanding the terms of the insurance agreement.
Points To Look Out For
Some of the points you should look out for in your agreement are:
- What the agreement insures in the way of drivers; is it any driver or just named ones?
- Were all the details relating to the car, accurate at the time of the agreement?
- Does the car have to follow strict servicing arrangements for the policy to remain valid?
- In insured for theft, must you install an alarm?
- If you have comprehensive insurance, will the insurance company get a rental car for you to use while your vehicle is undergoing repairs?
All of the above are things you must check about your policy before agreeing to it.
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All info was correct at time of publishing