Auto and General Insurance limited review 2024

Auto and General Insurance was established in 1985 as a division of the Telesure Investment Holdings Group.

Within its first 15 years, the company experienced extraordinary growth, achieving a 50% compound growth rate in 12 of those years. This impressive expansion was facilitated by an increase in both the workforce and assets.

The company’s growth can be primarily attributed to its focus on Small and Medium Enterprises (SMEs).

Auto and General Insurance offers a range of services including life insurance, home and personal insurance, and business and vehicle insurance.

The company has a longstanding partnership with Tracker, providing customers with tracking devices and assistance in recovering stolen vehicles locally and globally.

Currently, Auto and General Insurance is undergoing a transformation to promote inclusion of previously disadvantaged individuals (PDIs), with 55% of its workforce comprised of PDIs.

Furthermore, the company has implemented an accelerated management development program aimed at enhancing black representation in management roles.

Auto and General Product Offering

Vehicle Insurance

Car insurance: comprehensive car insurance

covers your car against third-party claims should you get into an accident with another car.

Comprehensive car insurance covers the damages that your vehicle has incurred.

Third-party fire and theft cover your vehicle for accidental damage by a third party and against theft and fire damage.

You also have the option to take third-party-only insurance to cover your car against third-party damage.

Motorcycle insurance: motorcycle insurance only covers those motorcycles that are used for personal or social purposes and also off-road motorcycles.

The motorcycle cover covers damage or theft, towing, and storage. It covers accessories and third-party damage.

Caravan Insurance: caravan insurance covers your caravan and what you have put inside the caravan against accidental damage, theft and loss.

So the cover covers any damage by a third party. Value-added services include towing and storage and cover for standard accessories.

Trailer insurance: the cover is for a trailer and does not cover the loose contents since it’s difficult to ensure the security of such items.

The cover includes towing and storage, cover for damage or theft, and third-party damage.

Watercraft Insurance: This cover is only for watercraft that is for domestic, social and pleasure purposes.

The cover protects against theft, third-party damage, and accessories.

Auto and General Limited Home and Personal Insurance

Home contents insurance: this insurance covers all the contents in your house. The cover is against theft, loss and accidental damage.

When taking this policy you will need to write your contents down so that you can make sure that all your contents are included in your insurance.

Should there be a security issue at your place, Auto and General will deploy security guards to guard your home contents.

The cover is also for food spoilage due to power outage, money stolen from the home, credit cards, garden furniture, medical expenses caused by your pet etc.

Building insurance: This cover protects your buildings against damage or loss.

Causes can be fire, lightning, burst pipe, floods, storms etc.

You also get lost rent if your property was a rental property. Auto and General pays your rent if you will live elsewhere because of the damage caused to your house.

Portable Possessions Insurance: covers your personal possessions against loss and theft. You will need to specify items that you want to insure.

Any unspecified items may be covered if lost or stolen or damaged to the extent that the amount on your schedule can cover the balance.

Life Insurance

Pure life cover: Auto and General provides life insurance cover policies to different types of earners.

Beneficiaries receive between R200,000.00 and R10.5 million in life insurance.

Accidental and natural death coverage is available immediately. Suicide is covered after 2 years of coverage.

If you have a terminal illness and have less than 12 months to live, you may be eligible for a payout.

In addition, beneficiaries are entitled to a R50,000.00 funeral benefit within 24 hours of filing a claim.

Disability cover: Auto and General offers disability cover that pays handsomely should you get disabled on duty or otherwise.

Occupation-based disability pays between R200,000.00 and R10 million. The cover stays the same but will only decrease 5 years before retirement.

Event-based disability pays out between R50,000 to R10 million all depending on the type of disability you suffer.

Should you lose an eye or be blind on one eye you only receive 50% of the cover amount but should you lose both eyes you get 100% cover money.

Dread Disease Cover: the dread disease cover pays a percentage of your cover amount should you suffer a dread disease.

The cover amount is between R50,000 to R4 million.

Business Insurance

Commercial insurance: commercial insurance from Auto and General is suitable for over 700 different business types, including start-ups, medium-sized enterprises, large enterprises and corporations.

Auto and General Insurance businesses that are office-based offer professional services to medical practitioners, hospitals, tradesmen, and other businesses.

Specialised Liability insurance: This covers for damages and expenses to one of your clients due to negligence or incorrect advice that causes them financial loss.

Directors can also be indemnified against financial liability in claims regarding perceived failures in their performance and duties.

Auto and General Insurance Limited Executives

Conclusion

Auto and General Insurance Limited is known as one the biggest insurer along with its other counterparts such as Outsurance and Alexander Forbes in South Africa.

But most importantly, it’s known for its best short-term insurance products. With the help of its parent company, Telesure, the company has been able to expand to other countries and also include new services throughout the years.

The company has a presence in Australia and the United Kingdom today, however, the company still has a long way to go.