In light of the COVID-19 pandemic and the financial strain it has created for many of our customers, Absa Insurance Company has launched a COVID-19 payment relief programme. We are offering our customers a 15% discount on their vehicle and motorcycle insurance premiums.

FAQs

  • What is Absa Insurance Company doing to help customers during the COVID-19 pandemic?

    Insurance Company has launched a COVID-19 payment relief programme for their vehicle insurance customers.

  • What is being offered?

    Customers will receive a 15% discount on their vehicle and motorcycle insurance premiums.

  • Which insurance cover options are included in the premium discount offer?

    This premium discount only applies to personal vehicle insurance customers, who are insured for: 

    • Comprehensive
    • Fire & Theft
    • Third-Party cover  

    The discount is applicable to vehicle only policies and to the vehicle sections of packaged policies.

  • What is the benefit of this premium discount?

    This premium discount offer gives our customers reduced vehicle insurance premiums during this difficult period. Also, customers will not have to pay back the premium discounts received. We aim to help our customers by ensuring that their insurance policies remain active during this pandemic. 

  • When is this offer available?

    The offer will be available from 1 June 2020, for a period of 2 months.

  • Who qualifies for this premium discount?

    Existing Absa Insurance Company customers and new customers who will be taking out vehicle insurance policies during the offer period.
     

    For new customers to qualify for the premium discount, their policy needs to be activated and premiums deducted during the discount offer period. 

  • What will happen after the 2 months offer period?

    For existing customers, premiums will revert back to the amounts being deducted prior to the discount offer period. 
     

    New customers will be made aware of the premium amounts that will be deducted after the 2 months offer period expires. These will be the premium amount that are indicated in the policy schedules these are the premiums that the customer would have agreed to before their policy is activated. 

  • How do I apply for the premium discount?

    No applications are required. The 15% premium discount will automatically be applied on all policies as stated above. Premiums collected during the offer period will automatically be reduced by 15%. 

  • How will claims be affected during the discount offer period?

    There will be no impact on claims submitted during this offer period. The premium discount is our way of helping to reduce the financial burden on our customers during this pandemic. Normal claims processes and policy conditions as stated in policy schedules will apply.

  • How will this affect my cash back bonus?

    Cash back bonuses will not be affected by the premium discount and will be calculated based on the full 100% undiscounted premium. Any cash back bonuses due during this period will be paid out as per the normal process. 

  • Will I be charged administration fees for effecting this premium discount?

    No, the discount will automatically be applied on all qualifying policies stated above. You will not be charged any administration fees. 

  • Why did it take so long to launch this programme?

    We realise that this is a stressful time and that our customers would have liked us to confirm our plans somewhat earlier. In order to offer a comprehensive solution that would help our customers in a sustainable manner, we had to first consider various factors and implement changes to our systems. We are however confident that our payment relief programme is comprehensive enough to assist during these difficult times extending beyond the initial lockdown period.