Insurance with me. OUTsurance

[crazydude]

In all honest I can't answer this either. The tracking device payment per month is generally higher than what the increase in your premium would be if you didn't have the tracker installed. I don't know why.

But if anyone is a situation where their insurance company is demanding a tracker to be installed, and you don't wish to do so, let me know and I may be able to help.

Outsurance wouldn't let me insure my car without a tracker.
With King Price I save money by not having a tracker.

Somehow King Price without a tracker is cheaper than King Price with a tracker which is cheaper than Outsurance which requires a tracker.

And why wasn't I one of them??

How rude.

Sorry man, I bought the car in July so didn't know that you were selling. I'm always willing to work with people on Carbonite.

 

[Oj0]

I thought this might be useful to anyone wishing to transport a car from one town to another using a carrier.

Yesterday I had a client call me wanting insurance on his vehicle as soon as possible. He has just purchased the vehicle in JHB and wants it transported to PE. I gave the client a quote. The client asked if we would cover the vehicle if the truck had an accident and his vehicle is written off. I said no, we do not cover vehicles while being transported by a third party. I advised the client that the cover for this would be goods in transit (GIT) cover and the carrier will have this cover in place. The client told me that the carrier has advised him they do not offer insurance on 2nd hand vehicles and only new vehicles being transported for a dealer. I called the carrier and they confirmed this. I asked how they can say this because they have GIT in any event, and I am just curious as to why they take this stance simply because the vehicle is a used vehicle? The carrier said no, they will not offer insurance since the client must have his own insurance. But we don’t cover vehicles being transported by third parties.

Ok, so I now want to help my client and quite frankly, I was pissed off by their attitude that implies they will not pay out if they responsible in writing off a client’s vehicle.

So, I called another carrier I worked with while in the motor trade. They advised me the exact same thing! I asked would they still take this stance if it was a 2nd hand vehicle being transported by a dealership? They said they will then cover the vehicle, provided it is less than 5 years old.

So, after some more calls and asking around I was able to find a carrier that will transport the client's vehicle and offer insurance on the vehicle while it is in transit. They will not expect the client to claim from his insurance in the event of their truck having an accident.

As far as I know having done a few GIT quotes, it has nothing to do with whether you are transporting a new or used item. When you take GIT cover it is based on the value of the item you are transporting and how many trips are done per annum etc. I think it’s rather shocking that this is the stance taken by some vehicle carriers. And these were well known carriers.

Hope this helps someone one day who is interested in moving a vehicle using a carrier.

Make sure! Do your homework!

I can answer this. It's not the carrier being difficult. I'm (was) looking into offering insured courier on second hand goods here on Carb, but the average price people are willing to pay means I won't do it. Adding GIT on second hand goods will increase premiums by roughly 150% - that's straight from the third party GIT insurer, not the price a courier company is quoting.

 

[StangV2_0]

I can answer this. It's not the carrier being difficult.

They do have GIT and do have it in place for 2nd hand vehicle when a client is a dealership. But they will not do the same cover for a private client.
One carrier said to me that they don't do it because of damage on 2nd hand vehicles that could be there before they load the vehicle onto a truck. And then they are blamed for the damage. Isn't that what a vehicle inspection is for?

I do understand that GIT can become a pricey risk to cover if done right. But in this case the carrier already had the GIT cover and moved cars worth a lot more than the clients vehicle was worth. The only reason he didn't get cover is because he wasn't a new or used vehicle dealership.

 

[StangV2_0]

Morning Chaps.

Quote Tuesday anyone?

Yesterday I completed what was, to date, my biggest quote ever. The clients premium for his fleet of vehicles (trucks) and goods in transit is R471k.

Our offer?

R440k.

And not only is it an annual saving of R372k, but the client will also save come claim time. This is because our excess is flat and not percentage based. His current insurer will hit him a 20% excess if a truck is hijacked or stolen. Our excess? R15k. Much better than the 20% which is a big excess on a R1m truck!!

Another feature the client is missing out on with his current Insurer is the OUTbonus. On one of his policies, he has a claims ration of 15.9% over the last 3 years. If this particular policy had of been with OUTsurance he would have qualified for a cash back of R300k.

This was great experience in doing a large commercial quote. Haven't closed the deal yet (working on it ) but it shows how competitive we are in the commercial market and the benefits of having your business with OUTsurance.

Don't hesitate. Let me see what I can do for your business.

 

[Salee]

Does personal vehicle comprehensive cover, cover in neighbouring countries like Moz, Zim, etc?

 

[StangV2_0]

Does personal vehicle comprehensive cover, cover in neighbouring countries like Moz, Zim, etc?

Hi Salee,

Not sure how it works with other insurance companies but below is how this works with Outsurance.

If a vehicle is insured for comprehensive & private use then you are automatically covered in the following countries.

Mozambique
Malawi
Lesotho
Swaziland
Namibia
Botswana
Zimbabwe

If the vehicle is insured for business use then this option is not included and must be selected as an additional peril by our client. You can also extend the territories you wish to work in to Tanzania, Uganda, Zambia, Kenya, Angola, DRC, Zaire.

Hope this helps?

 

[Salee]

Hi Salee,

Not sure how it works with other insurance companies but below is how this works with Outsurance.

If a vehicle is insured for comprehensive & private use then you are automatically covered in the following countries.

Mozambique
Malawi
Lesotho
Swaziland
Namibia
Botswana
Zimbabwe

If the vehicle is insured for business use then this option is not included and must be selected as an additional peril by our client. You can also extend the territories you wish to work in to Tanzania, Uganda, Zambia, Kenya, Angola, DRC, Zaire.

Hope this helps?

Thanks

 

[crazydude]

Hi Salee,

Not sure how it works with other insurance companies but below is how this works with Outsurance.

If a vehicle is insured for comprehensive & private use then you are automatically covered in the following countries.

Mozambique
Malawi
Lesotho
Swaziland
Namibia
Botswana
Zimbabwe

If the vehicle is insured for business use then this option is not included and must be selected as an additional peril by our client. You can also extend the territories you wish to work in to Tanzania, Uganda, Zambia, Kenya, Angola, DRC, Zaire.

Hope this helps?

Is that typo yours or does OUTsurance think that Zaire and the DRC are two different countries?

 

[StangV2_0]

Is that typo yours or does OUTsurance think that Zaire and the DRC are two different countries?

No there is more to it. But stopped there since it covers southern regions in DRC etc.

Are you currently with Outsurance, vehicle insured for business use, and planning to take extended territory cover?

 

[crazydude]

No there is more to it. But stopped there since it covers southern regions in DRC etc.

Are you currently with Outsurance, vehicle insured for business use, and planning to take extended territory cover?

I don't have or need business insurance. I just found the list odd as to me, DRC is simply the current name of the country which was previously called Zaire.

 

[StangV2_0]

I don't have or need business insurance. I just found the list odd as to me, DRC is simply the current name of the country which was previously called Zaire.

No worries. I edited my post. Hope it clears this up.

https://imgur.com/NcIECYx

 

[CarboVan]

Free bump..
Will outsurance cover a single motorcycle on a policy?
And can I specify track use? Some insurers allow it, but need to notify them beforehand.

 

[StangV2_0]

Free bump..

Thanks!!

Will outsurance cover a single motorcycle on a policy?

yes.

And can I specify track use? Some insurers allow it, but need to notify them beforehand.

There is a Track Days Extension that can be taken as an additional cover but I just need to confirm the details before posting. I have sent a mail to actuaries for some clarity. I will respond soonest.

 

[StangV2_0]

Free bump..
Will outsurance cover a single motorcycle on a policy?
And can I specify track use? Some insurers allow it, but need to notify them beforehand.

Ok here it is.

Yes, you can take cover for track days. However, you cannot just add and remove it before or after going to Superbike school.

The cover must be in place for a year before you will be covered for any incident on a race track.

 

[oHm_29]

Yesterday I completed what was, to date, my biggest quote ever. The clients premium for his fleet of vehicles (trucks) and goods in transit is R471k.

Our offer?

R440k.

Good luck, hopefully you get it as that will be very nice commission!

 

[StangV2_0]

Morning Guys,

Quote Tuesday anyone?

We have recently become aware of a large insurance company in South Africa looking to cut billions or rands worth of business which they view as "high risk". Source? Interview on Radio 702.

Now I am not going to go into names and derail my thread. But why, and more importantly, how would they do this?

Well, they would have looked at a large portion of their business and felt the risk is just too high or they are spending too much money on claims. One such area would be motor vehicles or large fleet. These risks carry a much higher risk than others and they have more claims.

And how would they cut this business? Easy. By giving their existing clients a very high increase on their premiums when they come up for renewal. The client will then feel they have no choice but to get an alternate quote and leave their current insurer.

If you find yourself getting a renewal where your premiums have made a drastic increase from your broker, you may just be a victim of this insurer looking to cut a large portion of their business.

We want your business. I want your business.

Send me a pm.

Have a good day further!

 

[StangV2_0]

Another Carbie signed up! Thank you for the support!

I appreciate your business!

 

[StangV2_0]

OUTsurance not only won this award two years in a row, but they are also the only insurance company in SA who have won it twice.

OUTsurance wins News24 Short-Term Insurer of the Year - again | Business

This year's News24 Short-Term Insurer of the Year award went to OUTsurance.

www.news24.com

 

[Billionairebum]

Another Carbie signed up! Thank you for the support!

I appreciate your business!

StangV2_0 was able to shave R500 off my insurance bill. Thank you Sir.

 

[StangV2_0]

StangV2_0 was able to shave R500 off my insurance bill. Thank you Sir.

Only a pleasure and thank you for your support and post!

 

[StangV2_0]

Happy Monday, chaps & ladies!

Some long weekends coming up. Lots of travelling. Lots of out & about. Lots of people going away. Lots of homes standing empty. Lots of hours on the road with possible breakdowns and towing costs. This is a time for potential issues or incidents.

Make sure you are covered by South Africa's top insurer with myself as your personal broker!

Pm me for an obligation free quote!

 

[StangV2_0]

Enjoy your weekend chaps!!

https://imgur.com/vceXUYz

 

[StangV2_0]

Morning Guys,

I really don't like to just bump a thread up without posting something useful or informative.

Did you know that OUTsurance is an international company? Founded 26 years ago in South Africa, we also operate in Australia.

And we are now about to launch in Ireland.

https://www.iol.co.za/business-report/companies/outsurance-set-to-open-ireland-office-in-three-months-9c6cc968-2972-445f-b402-7870b99c9ecb

OUTsurance to deploy another R1.2bn to Irish venture | Business

OUTsurance expects to deploy another €60 million (R1.2 billion) to its Irish venture over the next six years as it continues to evolve into a fully fledged multi-national property and casualty insurer.

www.news24.com

Need a quote? send me a PM.

 

[StangV2_0]

Guys, please be very careful when shopping for quotes. A lower premium is not necessarily a benefit. Times are hard and many persons are looking at where they can cut costs as much as possible, but please exercise caution when it comes to your insurance.

I had a client earlier send me a quote saying he is considering moving since he got a cheaper quote. Total premium with us. R2050. Their quote is R1779. He could save R270 a month.

I had a look at it and the first issue I noted was the ridiculous excess structure. Our excess was the same, however their quote had an additional excess of R4000 for any incident that happens in the first 6 months. Should the vehicle be a total loss (written off or stolen and not recovered) there would be another additional excess of R 5400. Should he had loaned this vehicle to a friend or family member who was not the regular driver at the time of the incident there is then another excess of R 7500. I could see no wording in the quote that suggested these excess amounts would not be stacked on top of one another.
Edit. Ok I found the wording. His excess will be max R10k if multiple additional excess were applied. So, with that in mind, check below.

But this wasn't the wort part..

All three of his vehicles were insured for trade value, and not retail value.

Retail value on his BMW is R158 000. Trade value on his BMW is R 133 000.

So not only would the client be paying a stupidly high excess, but he would have been insured for R 25k less than what the estimated cost is to replace is vehicle.

If his vehicle was Hijacked with the other insurer right now, he would be paid out R123k. Same event with us right now, he would be paid out R156k. And I did this exercise with only one of his vehicles. He has three insured. Is this cover really worth saving R270 a month?

Make sure you know what you are getting.

Hope you all have a good day!

 

[StangV2_0]

Good day All,

Thank you very much to the carb members who continue to support me. There have been a few members in the past two weeks who I have quoted, and unfortunately, I have not been able to secure their business. I wish to thank these members as well. Even though I was not able to secure your business, I thank you for giving me the opportunity to provide you with a quote.

We may not be able to beat your current premium, but our service, and with that said, MY service, will always be hard to beat. Yesterday a member contacted me requesting confirmation of his insurance. And not only the confirmation, but also proof of payments being made to his insurance the last few months. I must be honest; I had not had this request for proof of payments before and hadn't heard of this request before.

10 Minutes later he had the confirmation of insurance emailed to him. Unfortunately, being a bit new to the systems, it did take me a bit longer to supply the client with an invoice reflecting his payments from inception to current date. He had this tax invoice emailed to him 40 minutes later reflecting total payments made, payment start date, and last payment made.

He thanked me, and I said no need, that's what he pays me for.

Are you needing better service from your broker? Would you like to look at a quote and compare my offer to theirs?

Send me a pm. I want your business.

 

[Dodge Gee]

Hi @StangV2_0,

I was going to create a seperate discussion wrt to insurance, but maybe post here might be better.
I will be dropping you a request for a quote within the month. In process of re-evaluating my insurance - I have a health issue so, going about doing things a issue.
Anyway...

My current Insurer has following sub-catgories:

Section

Contents

Personal Liability

Buildings

Personal Accident

All Risks

Motor

Watercraft

Personal Computers

Legal Costs

Extended Personal Liability

Mechanical and Electrical Breakdown

Identity Theft

SASRIA non-motor

SASRIA motor

My query is the below specific for household contents.
Soo, I see there is a separate sub-category for PC's which is at a much higher rate. PC's can easily cost hundreds of thousands rands.

My query is, Things such as Desktops(Est value R120 000), Gaming Laptop(Est value R27 000), PlayStation 5 with extras(Est value R27 000), TV's(Est value R30 000 ea), AV Equiment(Est value R30 000ea) & Other expensive electronics.

So, Desktops, Laptops & Consoles are covered under "Personal Computers", and TV's/AV Equipment and other Electronics grouped into Contents.
I am putting a list of Main items, TV's, Consoles, AV Equipment, etc and their value to attach to it.
PC and its component I am thinking of Just putting CPU value, GPU value, NVME's Value, etc to a total (not individually stating that I have a ASUS TUFR RTX 4090 OC with Serial #####; just state GPU)

Users generally lump all there insurered contents under contents and becomes an issue when claiming.

Does this seem to be a more correct way of insuring with sending a list of items(generalised)?

 

[StangV2_0]

Hi @StangV2_0,

I was going to create a seperate discussion wrt to insurance, but maybe post here might be better.
I will be dropping you a request for a quote within the month. In process of re-evaluating my insurance - I have a health issue so, going about doing things a issue.
Anyway...

My current Insurer has following sub-catgories:

Section

Contents

Personal Liability

Buildings

Personal Accident

All Risks

Motor

Watercraft

Personal Computers

Legal Costs

Extended Personal Liability

Mechanical and Electrical Breakdown

Identity Theft

SASRIA non-motor

SASRIA motor

My query is the below specific for household contents.
Soo, I see there is a separate sub-category for PC's which is at a much higher rate. PC's can easily cost hundreds of thousands rands.

My query is, Things such as Desktops(Est value R120 000), Gaming Laptop(Est value R27 000), PlayStation 5 with extras(Est value R27 000), TV's(Est value R30 000 ea), AV Equiment(Est value R30 000ea) & Other expensive electronics.

So, Desktops, Laptops & Consoles are covered under "Personal Computers", and TV's/AV Equipment and other Electronics grouped into Contents.
I am putting a list of Main items, TV's, Consoles, AV Equipment, etc and their value to attach to it.
PC and its component I am thinking of Just putting CPU value, GPU value, NVME's Value, etc to a total (not individually stating that I have a ASUS TUFR RTX 4090 OC with Serial #####; just state GPU)

Users generally lump all there insurered contents under contents and becomes an issue when claiming.

Does this seem to be a more correct way of insuring with sending a list of items(generalised)?

Hey Dude,

Thanks for reaching out.

Is this a business or personal? On business contents and electronic equipment are usually listed separately. On Personal PC will be under contents.

Laptop will be under out and about which is an all risk cover.

If a person is looking for great cover for their PC ill list a note to the policy that the PC is included for x amount as well as then give them accidental breakage cover for the Pc and list a note, once again, that the PC is included in this accidental breakage cover.
A nice thing about the additional accidental breakage cover is it will then cover any item for accidental breakage. Like Microwave, wifi, speakers, etc.

If you want the best possible cover for a PC then we can look at covering it under an all risk cover but premium may go up a bit more than if it isn't under such cover.

Send me a pm as soon as you ready.

 

[StangV2_0]

Good day All,

I had a query from a member yesterday to look at a quote for them when they had a current policy with OUTsurance. Their home (building/Contents) is with Outsurance while the rest of the cover such as car, contents etc was with another insurer.

When I started this thread there was a process where a client could be migrated from the call center to a broker. This is no longer allowed unless there is a very strong reason for the migration. Saying "I want to use Stang" won't be good enough. And I am not allowed to quote a client who is already with Outsurance.

However..

The only way I can do a quote for such a client would be to look at a different policy all together. So, if the insurance is in your name, and you wish to move it to your spouses name. Or, if you have personal insurance but you run a business from home, I can then look a different policy using a business quote.

I am yet to do a business quote where we are not cheaper. Our commercial product is a lot more competitive.

Please keep this in mind.

Thank you.

 

[sabie]

Good day All,

I had a query from a member yesterday to look at a quote for them when they had a current policy with OUTsurance. Their home (building/Contents) is with Outsurance while the rest of the cover such as car, contents etc was with another insurer.

When I started this thread there was a process where a client could be migrated from the call center to a broker. This is no longer allowed unless there is a very strong reason for the migration. Saying "I want to use Stang" won't be good enough. And I am not allowed to quote a client who is already with Outsurance.

However..

The only way I can do a quote for such a client would be to look at a different policy all together. So, if the insurance is in your name, and you wish to move it to your spouses name. Or, if you have personal insurance but you run a business from home, I can then look a different policy using a business quote.

I am yet to do a business quote where we are not cheaper. Our commercial product is a lot more competitive.

Please keep this in mind.

Thank you.

Moved too many carbies over? 🤣
Have been meaning to get to ask you to do that, but alas life is busy. Now I feel burnt by myself as I sit with an open claim (yes, outsurance building cover) while the assessor drags their heels for 3 days and an active water leak in our walls. 😐

 

[StangV2_0]

Moved too many carbies over? 🤣
Have been meaning to get to ask you to do that, but alas life is busy. Now I feel burnt by myself as I sit with an open claim (yes, outsurance building cover) while the assessor drags their heels for 3 days and an active water leak in our walls. 😐

Unfortunately not. There always some people who abuse things, let's just leave it at that.

Ask them if you can do a virtual assessment using photos etc?