Auto and General Insurance limited review 2020

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  • Post last modified:Jul 5, 2020
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Auto and General Insurance
TypePrivate
SectorFinancial Services
IndustyInsurance
AddressAuto and General Park,
Dainfern,
1 Telesure Ln,
River Glen,
Midrand 2191
South Africa
Phone0861000209
ProductsVehicle insurance, home and personal insurance, life insurance, business insurance
Websitewww.autogen.co.za

Auto and General insurance is a subsidiary of Telesure Investment Holdings Group and was founded in 1985.

The company would achieve 50% compound growth in 12 of its 15 years of existence. Remarkable growth has been toppled by an increase in Labour force and assets.

The growth of Auto and General is mostly attributed to the growth of Small and Medium Enterprises.

Auto and General Insurance offer services in life insurance, home and personal insurance, business and vehicle insurance.

The company also has a long-standing relationship with Tracker that offers Auto and General customers tracking devices and help with retrieving their vehicles locally and globally.

Auto and General Insurance is in a transformation phase to involve the previously disadvantaged individuals.

The company has a staff complement that comprises 55% of the previously disadvantaged individuals (PDIs).

The company also has an accelerated management development program that aims at increasing black participation in management.

Services offered by Auto and General Insurance limited

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 covers your vehicle for accidental damage by a third party and against theft and fire damage.

You also have an option to take a Third Party Only insurance to cover your car against third party damages.

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 against damages or theft, towing and storage. It covers for accessories and third party damages.

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 covers against theft, third party damages 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.

The cover pays between R200,000.00 to R10 million life cover to beneficiaries.

The cover is immediate for accidental death and natural death. Suicide is covered after 2 years from taking the cover.

You can get a payout if you are suffering from a dread disease and have less than 12 months to live.

Also, R50,000.00 funeral benefit is payable to beneficiaries within 24 hours of 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 to 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 being start-ups, medium enterprises, large enterprises and corporations.

Auto and General Insure businesses that are office-based, offer professional services, medical practitioners, hospitals, tradesman 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

NamePosition
John MylerChief Executive Officer
Jonathan KerrChief Marketing Officer
Chris WrightHead of Corporate Procurement
Darren RyanChange Delivery Manager
Martin Van RensburgDirector: 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 including 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.

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Lethabo Ntsoane

Lethabo Ntsoane 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 reviews and financial tips.