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FNB Car Insurance Review 2022

First National Bank is one of South Africa’s fastest-growing insurance brokers, and it has consistently expanded its insurance portfolio. The company’s auto insurance solutions are highly competitive, and they offer a wide selection of insurance packages similar to those supplied by traditional South African short-term insurers. The costs of the FNB auto insurance option are tailored to the individual.

The company’s vehicle insurance solutions do not have a one-size-fits-all price. Car insurance policies are custom-made to meet the demands of clients. Comprehensive insurance coverage can be tailored to provide larger coverage.

FNB Car Insurance Summary 

First National Bank offers car insurance solutions that cover a variety of situations through its insurance brokers. FNB automobile insurance packages can cover both new and used vehicles. When compared to other insurers in South Africa, FNB’s premiums are affordable and competitive. FNB Car Insurance packages cover the loss or damage of motor vehicles.

Some products cover a broader range of incidents, while others provide limited coverage and some include third-party harm. Because the products are nondiscriminatory and can be differentiated, the FNB vehicle insurance product offering is diverse. Private cars, bakkies, 4 x 4s, and motorcyclists are among the vehicles that can be covered by FNB Car insurance.

There are no limits to the number of drivers that can be covered on a vehicle insurance policy. Drivers must, however, have a valid driver’s license, and policy owners must obtain authorization to add additional drivers to the auto insurance policy.

FNB Car Insurance Products

First National Bank has different car insurance products available to choose from. Car insurance products include comprehensive car insurance, third-party only car insurance, and third-party, fire and theft car insurance. These products are discussed in detail below. 

Comprehensive Car insurance 

FNB comprehensive car insurance is a car insurance cover that covers a wide range of incidents. The cover covers intentional occurrences, natural occurrences, and accidents. Comprehensive insurance cover from FNB covers you against:

  • Malicious damage to your vehicle by someone, 
  • Hijacking, 
  • Vehicle theft, 
  • Attempted hijacking, 
  • Attempted vehicle theft( damages incurred during the attempt), 
  • Natural occurrences such as fire, explosions, earthquakes, lightning, or hail storms. 
  • Damage to third-party vehicles. 
  • Accident 

Roadside assistance is automatically activated upon subscribing to the comprehensive car insurance cover. You get 24/7 access to the benefit and it is available to you anywhere in South Africa. Towing costs are taken care of by FNB should your vehicle need to be towed away. 

Third-Party, Fire and Theft Car insurance 

FNB third party, fire, and theft car insurance is an insurance product for motor vehicles that are paid off or that are older than 15 years. The third-party, fire, and theft car insurance cover offers lesser coverage when compared to the comprehensive car insurance but comes at a more affordable premium than the comprehensive car insurance. 

The third-party, fire and theft car insurance cover against:

  • Vehicle theft, 
  • Attempted vehicle theft, 
  • Vehicle hijacking, 
  • Attempted vehicle hijacking, 
  • Fire-related damages, 
  • Damages that you may have caused to another person’s vehicle during an accident. 

The purpose of the third party, fire, and theft car insurance is to offer a car insurance cover that is affordable by cutting off some of the covers included in the comprehensive car insurance cover. Accidental damage is not covered by the cover. Furthermore, the third party, fire, and theft car insurance cover doesn’t cover natural occurrences. 

Third-party only car insurance 

FNB third-party only car insurance provides coverage to those that want to insure themselves against third-party damages. The third-party only car insurance covers one against third-party property damage to the extent that they are legally liable to compensate the third party. FNB only pays for the damages that are caused by the insured. 

Damage to own vehicle is not covered by the third party only car insurance. Therefore, it is important to have another car insurance product if you have third-party car insurance. With another car insurance product, you will be able to replace or repair your car at a lesser or at no additional cost in case of an accident. Otherwise, with third-party-only insurance, you will have to cover the total cost of repairing/replacing your own vehicle. 

Benefits of FNB Car Insurance 

Having a First National Bank car insurance product comes with benefits, these include:

  • Affordable premiums that can be negotiated in order to secure the best cover at the best price, 
  • You get multiple quotes from some of the most reputable insurance companies in South Africa, 
  • Comes with a basic excess waiver
  • Cover for natural disasters, 
  • Policies are open driver policies, meaning the policies allow for the addition of multiple drivers, 
  • Free roadside assistance, 
  • Free evaluations on specific products, 
  • FNB can cover all your risks under 1 policy, 
  • Advice on what to insure and what not insure, 
  • Policies come with their own claims broker who will be there to assist you with your insurance needs. 

What you need to apply for an FNB Car Insurance 

  • Must have a valid driver’s license that is a year older or an international permit, 
  • A valid South African ID book or Smart card or passport, 
  • An insurable asset (motor vehicle) 
  • Proof of residence that is not older than 3 months at the time of application. 

Advantages of FNB Car Insurance

  • Different types of motor vehicles can be issued by the FNB car insurance solution
  • The solution comes with free roadside assistance for all product.
  • There are different products to choose from
  • Free car insurance advisory service

Disadvantages of FNB Car Insurance

  • There are many complaints that relate to the claiming procedure by clients on HelloPeter and Google reviews.
  • Service delivery is shaky with the prolonged turnaround time.

Conclusion 

First National Bank does not insure autos in the typical manner. To provide insurance products to South Africans, the organization use a broker system. The broker system provides superior vehicle insurance options based on many bids. The company’s products are diverse and can be differentiated. As a result, the FNB car insurance packages adapt to the needs of various car insurance purchasers.

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 [email protected]

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