The Nedbank Car Insurance is an auto insurance product that offers various car insurance plans with different levels of coverage and premiums based on the plan chosen and the underwriting process.

When purchasing the policy, customers can receive up to a 25% discount on the payable premiums. There is also a cashback benefit of 10% of premiums paid for every three claim-free years.

Customers can choose from a variety of Nedbank car insurance plans, which we discuss below.

Nedbank Car Insurance Options

Nedbank Vehicle Insurance covers a variety of incidents, and customers can select from a variety of plans. Comprehensive vehicle insurance, third-party, fire and theft insurance, and third-party only insurance are all available options.

Nedbank Vehicle insurance provides specialized motor insurance such as trailer cover, caravan cover, watercraft cover, and golf cart cover. We only cover comprehensive, third-party, fire and theft, and third-party only car insurance products in this review.

The following is a list of car insurance cover options from Nedbank Vehicle Insurance.

Nedbank Comprehensive Insurance

The comprehensive vehicle insurance offered by Nedbank protects an insured vehicle against theft and damage. The policy covers a car that has been written off and pays the vehicle’s value.

When a car is stolen or written off, Nedbank pays the finance company first. The product also includes towing and storage from the scene of an accident, as well as subsequent storage. The vehicle is towed to a nearby repair shop.

If a policyholder fails to call a towing number provided by Nedbank and/or fails to use an approved towing operator approved by Nedbank, they become liable for storage and towing costs.

The policy covers the cost of recovering a vehicle if it is disabled outside of South Africa. The maximum cover amount for an insured vehicle’s repatriation is R7,500.00.

Comprehensive vehicle coverage also includes vehicle keys. The plan includes key, lock, and remote control replacement, as well as reprogramming of the vehicle’s anti-theft system. Coverage for key replacement is unlimited, and the policy’s basic vehicle excess applies when filing a claim.

The plan includes coverage for an insured vehicle’s sound system. A separate premium is required for sound system coverage. At an additional cost, hail damage can also be covered.

The plan can also include vehicle and canopy rental. The cover can pay for a vehicle rental through a Nedbank preferred supplier for a set number of days.

Comprehensive vehicle insurance covers personal liability. The policy protects third-party property damage caused by an insured vehicle. The plan covers the costs and damages incurred as a result of the insured vehicle.

What the comprehensive car insurance cover doesn’t cover:

• Unroadworthy vehicle, for example, a vehicle that was involved in an accident and yet it is being driven and not towed.
• Unauthorized use as an insured motor vehicle unless there are criminal charges laid if the insured vehicle is used without authorization and consent.
• Loss of or damage to the vehicle as a result of vehicle keys that have been left in or on the vehicle.
• Leaving the scene of an accident.
• Vehicle that is used to earn an income.
• A vehicle that is used to race, for competition, rally or at a track day.
• Vehicle used to transport loads or people exceeding its registered capacity.
• Accidental death or injury of a household member or employee.

Nedbank third-party, fire and theft car insurance

Third-party, fire, and theft car insurance covers fire, explosion, lightning, attempted theft, and theft of a motor vehicle. If the insured vehicle is financed, the coverage pays the value of the insured vehicle under the plan first, to the finance company.

Insurance covers storage and towing from the scene of an accident to the nearest repairer. The policyholder is responsible for using the towing operator designated by Nedbank to provide towing service; otherwise, the policyholder will be responsible for the cost if they use a different operator.

The plan can cover both a sound system and a windscreen; however, the policyholder must subscribe for additional coverage. Sound system and windscreen covers require an additional premium from the policyholder.

Vehicle hire is also available at a reasonable premium, which provides the policyholder with car hire through Nedbank’s preferred supplier. Canopy coverage is also included in the plan and covers a canopy against theft and damage.

Nedbank third-party, fire and theft car insurance exclusions:

• Vehicle keys left in or in the vehicle.
• Leaving the scene of an accident.
• Vehicle used to earn an income.
• Vehicle that is used for motor sport.
• Unauthorized use of a motor vehicle.
• Vehicle that is used outside South Africa, Botswana, Lesotho, Malawi, Mozambique, Swaziland, and Zimbabwe.
• Cover under road accident fund.

Nedbank third party only car insurance

The Nedbank third party only car insurance covers damage to other people’s property caused by the policyholder’s vehicle. The plan also covers the sound system up to a certain limit.

Personal liability incurred by the policyholder’s motor vehicle is covered by the plan. The plan indemnifies the regular driver of the insured vehicle if they are liable for an accident that caused damage to another party’s property.

Nedbank Third Party Only Car Insurance Exclusions

The following are exclusions to the Nedbank third-party only car insurance:

• Vehicle keys left in the vehicle
• Leaving the scene of an accident
• Vehicle used to earn an income
• Vehicle used for motorsport
• Unauthorized use of a motor vehicle
• Use of the vehicle outside South Africa, Botswana, Lesotho, Malawi, Mozambique, Swaziland, and Zimbabwe
• Accidental death or injury of a household member or employee
• Cover under the road accident fund

Advantages of Nedbank Car Insurance

There are several advantages to choosing Nedbank Car Insurance, including:

• A range of car insurance plans to choose from
• Coverage in most countries outside of South Africa
• Add-ons such as debt cover available to policyholders
• Competitive premiums
• Drive Me Home service for safe transportation after a night out
• Premiums up to 25% discount
• 10% cashback after three claim-free years
• Emergency roadside assistance included in the plan

Disadvantages of Nedbank Car Insurance

The plan has no cooling-off period.

Conclusion

Nedbank offers customers a wide range of customizable car insurance plans to choose from, including additional features that can be added to the policy. The plan also includes a cashback benefit, which is uncommon in the car insurance industry. While there is no cooling-off period, customers can still enjoy the benefits of competitive premiums and emergency roadside assistance.