Categories: InsuranceNewsReviews

Auto and General Insurance limited review 2023

Published by
Lethabo Ntsoane
Auto and General Insurance
Type Private
Sector Financial Services
Industy Insurance
Address Auto and General Park,
Dainfern,
1 Telesure Ln,
River Glen,
Midrand 2191
South Africa
Phone 0861000209
Products Vehicle insurance, home and personal insurance, life insurance, business insurance
Website www.autogen.co.za

Auto and General Insurance was founded in 1985 as a subsidiary of Telesure Investment Holdings Group.

In 12 of the company’s first 15 years of existence, it would achieve 50% compound growth. An increase in the labour force and assets has helped the company to achieve such a remarkable growth.

The expansion of Auto and General is primarily attributed to the expansion of Small and Medium Enterprises.

Life insurance, home and personal insurance, and business and vehicle insurance are all services provided by Auto and General Insurance.

The company also has a long history with Tracker, which provides Auto and General customers with tracking devices and assistance in retrieving their vehicles both locally and globally when stolen.

Auto and General Insurance is undergoing a transformation to include previously disadvantaged people.

The company’s workforce is made up of 55% previously disadvantaged individuals (PDIs).

In addition, the company has an accelerated management development program with the goal of increasing black participation in management.

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

Name Position
John Myler Chief Executive Officer
Jonathan Kerr Chief Marketing Officer
Chris Wright Head of Corporate Procurement
Darren Ryan Change Delivery Manager
Martin Van Rensburg Director: sales and service

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.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted: Email: lethabo@rateweb.co.za Twitter: @NtsoaneLethabo