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Motor Insurance
Sunday, February 1, 2009
CarSure product

Most companies with their own fleet insurance cover believe their vehicles are adequately insured for accident or loss. But, says Suzette Uys, Divisional Director of CarSure, “We’ve identified a gap where a client's employee might be without transport following an accident or total write-off of one or more of the vehicles in their fleet. Being without transport while waiting for your vehicles to be repaired or replaced can be frustrating - and costly to the business.

“We have developed a service which assists insured clients arrange rental vehicles as add-ons to their existing insurance policy. The service, called CarSure, ensures that there is no interruption to the client’s business while waiting for their insurance to settle their motor claims.”
Uys adds that, “Clients can pretty much determine the terms of their own vehicle replacement policies.” For example, a policy could supply the client with: 1 400 aircon vehicles for a maximum of 30 days in the event of accidents, excluding a security deposit, including two nominated drivers and a R3 000 excess in the event of anything happening while driving the rental vehicles.
Alternately, cover can be arranged for: accident only, total loss, or a comprehensive policy providing rental vehicles across all insured events.
CarSure also offers a buy down facility on the excess on rental vehicles.  This can be bought at the time of rental direct from CarSure, leaving the client responsible for zero excess on the rental vehicles.
Furthermore, CarSure provides the flexibility of upgrading from standard rental vehicles to more luxurious rentals by merely making an additional payment – even if the client had originally bought the ‘standard’ cover.
“While the basic need for replacement of vehicles is covered, clients are able to tailor additional features to meet their specific needs - or even to alter cover in specific instances,” she adds.
The unattractive alternative is renting vehicles on your own account with a credit card as and when the need arises. “With a large fleet involving many incidents the costs of this course far outweigh those of permanent vehicle replacement cover.”
The product is a joint venture with Alexander Forbes Risk Services.

Copyright © Insurance Times and Investments® Vol:22.2 1st February, 2009
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