Absa Car Insurance Review 2021

Published by
Lethabo Ntsoane

Absa is known for its top-notch banking products but little is known about Absa’s insurance services. This is because in the past Absa mainly focused on issuing insurance products to its clients, however, today anyone can subscribe to any of Absa’s insurance products.

Absa is a registered insurer, registered with the Financial Sector Conduct Authority, and has a broad range of insurance products on offer. The insurer’s car insurance solution is recommended as one of the most reliable in the South African car insurance market.

The car insurance solution is simplified and comes with benefits that are there to save you money. Absa’s car insurance product is simple and advocates for the protection of one’s vehicle while saving the policyholder money. 

Absa Car Insurance Summary

Absa Car Insurance solution provides an easy way to get a car insured. With premiums starting from as low as R250.00, the solution offers competitive quotes. Absa Insurance company provides free expert advice when subscribing to their car insurance product and offers cost-effective premiums to clients.  

Absa Car Insurance Free Services

Car insurance solutions have freebies that customers can take advantage of at any time. The insurance solution comes with a home drive freebie that is available to any policyholder. With home drive, a policyholder gets to enjoy a free ride home should they go out and find themselves in a position where they are unable to drive themselves home. Each policy gets up to 6 drives. 

Roadside assistance is another freebie to utilize. Roadside assistance is there to ensure that policyholders don’t get slowed down because of a roadside emergency. The roadside assistance freebie is available 24/7 and can be arranged through a phone call. 

An interesting freebie that is at every policyholder’s disposal is the Road Guard freebie. This freebie keeps policyholders secure in times of emergency. Absa Insurance Assist sends an armed guard to an insured individual when they have a breakdown in an unsafe area. 

Absa Comprehensive Car insurance

Absa Comprehensive Car insurance is a car insurance cover that provides coverage to accidental occurrences, natural occurrences, and intentional occurrences to one’s vehicle or other people’s property. The insurance product covers a very broad range of incidents and it is best to have it as your main car insurance cover. 

The comprehensive car insurance covers fire, explosions, lightning, hail, storms, floods, and snow. Natural occurrences are covered in a massive range. Other things that are beyond one’s control that are covered include theft and damages incurred during an attempted theft. 

Hijacking and attempted hijacking also form part of the cover. Accidents are also covered by comprehensive car insurance. Should one’s vehicle get involved in a car accident, the towing and storage charges of the vehicle will be covered by Absa Insurance company. 

Deliberate acts intended to cause loss or damage are insured under comprehensive car insurance. However, acts caused by the policyholder or the regular driver of the vehicle or members of the policy holder’s household do not form part of the costs covered for deliberate acts. 

Accidental damage can cause one to be hospitalized, therefore, Absa has added a medical cover for the policyholder on the comprehensive cover. Household members of the policyholder also benefit from hospitalization costs. Medical expenses are limited depending on how much premiums one pays per month. 

Clients are protected from third-party property damage. Damage to third-party property is covered through comprehensive car insurance. However, the third-party loss cover is only available if the policyholder of the main driver is legally liable to compensate the third party. 

Benefits of the Absa Car Insurance

Absa Car insurance products come with benefits. By choosing to insure your vehicle with Absa, you get to have benefits that come for free. Benefits are immediately activated as soon as the selected car insurance product becomes active. 

Absa Car Insurance benefits are discussed below. 

Optional Car Hire

As a car insurance policyholder with Absa, you get an option to hire a car. Car hire for car insurance policyholders come at competitive rates and the car that is hired is also insured to protect you from incurring additional costs due to any unforeseen occurrences that may happen to the car.

Flat Excess Structure

The flat excess structure allows car insurance policyholders to have an excess cover on their motor vehicles. This feature allows you to choose the excess amount up front when taking out comprehensive car insurance. You will structure how much money will be paid towards the fixing of your vehicle if involved in an accident or on a claimable incident that cannot be covered in full. 

A flat Excess Structure is a structure that is set out to ensure that the correct amount is claimed for an excess cover. Excess cover covers the difference between the insurance payout amount and the shortfall of fixing a motor vehicle. 

Jump Start Service

Jumpstart service comes for free. As a car insurance policyholder, you are entitled to a free jump-start service that you can utilize at any time. The service is available for you 24/7 and isn’t only valid for roadside emergencies. Home assistance is also available for jump start assistance. 

Remote vehicle inspection

Vehicle inspection can be done on one’s private property. This feature saves policyholders time and money in moving their vehicle to a designated area for vehicle inspection. Rather, Absa sends experts to the client to conduct a vehicle inspection where necessary.

Advantages of Absa Car Insurance

  • There are benefits available that come at no additional premium.
  • The comprehensive cover offers coverage for many different occurrences at reasonable premiums.
  • Insurance products have free roadside assistance.

Disadvantages of Absa Car Insurance

  • Products such as third-party only car insurance and third-party, theft and fire insurance are not part of the Absa car insurance products offering.
  • There are no premium discounts.

Conclusion

Absa offers a car insurance product that does exactly what comprehensive car insurance should do. However, product separation is something that Absa doesn’t prioritize when it comes to their car insurance products. Since there are different car insurance customers out there, a need for single-purpose car insurance products such as third-party-only car insurance is important to include in the Absa car insurance products.

On the other hand, the benefits that come with choosing the Absa car insurance product are plenty. Policyholders get to enjoy many benefits without paying an extra rand every month which makes the Absa Comprehensive Car insurance attractive.

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 at lethabo@rateweb.co.za

Published by
Lethabo Ntsoane
Tags: ABSA