IT IS TOO LATE AFTER THE EVENT

[Phil Cooper]

Hi Murdock

You have a valid point. We automatically re-value all our clients' cars every year based on "book" value - and this more often than not results in a premium reduction.

As far as NO insurance is concerned - I would seriously recommend that you NEVR drive an uninsured vehicle - even if the insurance is for JUST the Third party damage you may cause. A R10,000 car can do a LOT of damage to a R500,000 Merc! Then, the problem comes up (and I have FREQUENTLY seen that) - you have an accident which is NOT your fault - but suddenly you get a letter of demand from the other Insurer holding you liable - either 100% or a portion due to Contributory Negligence. If you have to take them on at your own cost, it can HURT!

Balance of Third Party only is NOT expensive - but sure can save you a LOT of problems!

[murdock]

You were a mad biker so you are part of the 1% already, I mean the naughty 1% as in 'Hells Angels'

always paid for my bikes to be repaired at my cost...my excess for my R1 was R6000...i took a small tumble...quote to repair using insurance R21000.00...i had it repaired and added a few unique features for less than the excess...which back fired when the traffic police were looking for me...and having a unique helmet which i imported didnt help either...for driving a little faster than i was suppose to on the rare occassion

[Phil Cooper]

Think it is necessary to clarify the Ombud.

1. At the moment he may adjudicate on claims up to R800,000. However, it was mentioned last week at the annual Insurance Conference that there is a review, and the limit may be increased to R4,000,000 in respect of House Buildings cover, and R2,000,000 for contents.

2. If and Insurer presents you with an Agreement of Loss for your claim, and you sign it, the claim is finalised: you can not subsequently raise issues with the Ombud.

3. If you go to a Lawyer, you are precluded from approaching the Ombud - the idea is that the Ombud is there for speed and cost-saving, and you cannot do both. (The opposite is not the case - you can go to a Lawyer AFTER the Ombud ruling if you are unhappy with it).