Frequently asked questions

Frequently asked questions

Car insurance

What is the difference between the retail and the market value of my vehicle?
Retail value is the likely selling price of the vehicle by a motor dealer to a purchaser. This is the possible value that a motor vehicle 'retails' for if you were to buy it from a dealership. The retail price is the closest value to the replacement value or cost of your insured motor vehicle.

Market value when referred to in motor insurance is the average between the likely trade and retail values of a vehicle.

Does my premium decrease in line with the value of my vehicle?
The annual premium review takes into account the depreciated value of the vehicle. However this is not the only factor which determines the premium. The majority of claims paid are for accidents and not write-offs or stolen vehicles. The cost of repairs and parts constantly increase with inflation. We thus need to increase our premiums as it costs more to repair vehicles.

Why do I need to take my vehicle for inspection?
We need to see if there is any existing damage to the vehicle, confirm if the anti-theft device meets our requirements and obtain the details of any vehicle accessories and sound equipment.

Why do I need to install extra security devices in my vehicle?
Vehicle theft is an unfortunate but very real part of everyday life in South Africa. We take a preventative approach to the problem by requesting the installation of quality anti-theft devices in order to minimize or prevent vehicle thefts and hijacks. The initial few hundred rands outlay is worth the investment... ask anyone who has had a vehicle stolen. We know that this kind of preventative approach has yielded results for us and our clients.

Why do I need to fit an immobiliser when I have a gearlock?
An OUTsurance-approved immobiliser is self-activating so you cannot forget to activate it unlike a gearlock.

Can I have my vehicle repaired at a panel beater of my own choice?
The choice of any panel beater rests with us and we have established a selected panel of repairers whose work is guaranteed for 12 months. You may elect to choose your own repairer, although we cannot guarantee the quality of their workmanship.

If my stolen car is recovered one day, can I buy it back from OUTsurance?
OUTsurance has a salvage contract with an external company which sells all recovered vehicles on auction. You would need to deal directly with the salvage company.

Building insurance


How do I calculate the replacement value of my building?

We cover the buildings on a new for old basis. This means that we replace old, damaged items with new ones following a claim (e.g. replacing a burst geyser with a new one). In calculating the replacement value of your property, we take into account the costs to demolish damaged structures, remove the debris, payment for professional and municipal services before any new construction can start. Coupled with these costs are the actual costs for materials and labour. These costs, like many others, are determined by the building industry. We update these values on a regular basis for your convenience. We also update the replacement costs of the buildings annually as part of the review of your facility.

How do I determine the value of my contents?
We can provide you with an inventory to assist you in listing the contents and determining their values. We also have specialist advisors who can assist you with any queries you may have regarding this.

Will my goods be covered for damages while I am moving house (when I have taken the 'theft in transit' option)?
Yes, if you have selected our additional 'theft in transit' cover, you'll receive cover if the vehicle carrying the goods has been in an accident and the goods are damaged as well.

What happens if I undervalue my contents?
You then carry part of the risk should there be a loss. For example, if your contents are covered for R100 000 and they should be covered for R200 000, and you lose R20 000 worth of contents in a burglary, we will settle R10 000 and you will be responsible for the remaining portion of the loss. (This is the principle of average).

Can I cover my computer for business use under my contents cover?
Yes, if you select the optional 'goods on business use' cover and pay the additional premium.

OUTbonus

What is the OUTbonus?
The OUTbonus is a cash bonus that rewards you for not claiming. Should you not claim for three consecutive years, you will receive a set percentage of your premiums paid in this period at the end of the third year in real South African Rands to spend to your heart's content. Should you not claim for a further two years you will receive a set percentage of the premiums paid within this period at the end of the fifth year. Thereafter for each successive claim-free year you will receive a set percentage of all your premiums paid within the year at the end of each year.

 

Can I take a loan against my OUTbonus?
The OUTbonus is only payable after a three year claim-free period and does not build up any loan value.

 

What happens to my OUTbonus if I claim?
Your OUTbonus is forfeited should any claim be settled. The three year cycle however starts immediately once again and your OUTbonus will be paid once the three year claim-free cycle is completed. Making use of Buddy@OUT orHelp@OUT will not affect your OUTbonus.

Life OUTbonus

Does the Life OUTbonus only apply to your fully underwritten life product?
The Life OUTbonus applies to all our life insurance product offerings. For detailed information on your specific product and the OUTbonus offering that applies to you, please talk to one of our life insurance advisors by calling 08 600 60 000.

 

Will I always lose my OUTbonus when I claim?
Clients who applied for fully underwritten life cover will unfortunately lose their OUTbonus if they claim within the first 15 years of their policy. When in doubt, please refer to your schedule or give us a quick call on 08 600 60 000, we’d be happy to assist.

 

Do I automatically qualify for the 100% Life OUTbonus?
The OUTbonus is optional for our underwritten life product at a cost of on average 33% of your premium.

 

Will existing OUTsurance life insurance clients automatically be switched to the new OUTbonus structure?
No. But, you’re most welcome to give us a quick call on 08 600 60 000 and we’ll get you sorted as soon as possible.

 

How can I check how much my OUTbonus will be and when this will be paid out?
Your estimated OUTbonus will be included in your life insurance facility. Alternatively, you can call 08 600 60 000 to have a chat to one of our expert life insurance advisors who’ll gladly double check this for you.

 

How can I check how much my OUTbonus will be and when this will be paid out?
Your estimated OUTbonus will be included in your life insurance facility. Alternatively, you can call 08 600 60 000 to have a chat to one of our expert life insurance advisors who’ll gladly double check this for you.

 

Will I get any type of reward if I refer my friends or family to OUTsurance?
Yes. If the Life OUTbonus option has been activated on your facility, it will be credited with R400 for every successful referral (we just need a total of R400 in paid premiums from the new client).

Claims

What forms do I need to complete to submit a claim?
OUTsurance has no forms. All claims are registered for your convenience over the phone.

 

Why do you ask so many questions at claims stage?
We ask the same questions you would traditionally fill in on a paper-based claim form with another company. We also obtain quotations for items being claimed for on your behalf and therefore need correct information in order to cost the claim on the correct replacement make and model. All the information obtained assists us in validating the claim and thereby speeding up the process.

 

Can I use my own service provider?
The choice of any service provider (e.g. panel beater) rests with us and we have established a selected panel of service providers whose work is guaranteed. You can elect to choose your own repairer however we cannot guarantee the quality of their workmanship.

 

How do I submit a claim when I'm overseas?
You can call us on +27 12 673 3000 or give us the name of a contact person in South Africa who will deal with the claim on your behalf.

 

Will my OUTbonus be affected if I submit a glass claim?
Yes. All claims affect the OUTbonus.

 

I paid my excess and I wasn’t the one who caused the accident. Do I get my excess back?
Our legal department will attempt to recover your excess from the person who caused the accident. Although we will fight tooth and nail to recover your excess, the recovery is not guaranteed. It can be a lengthy process if the other person disputes their liability or if we have to trace this person and follow up on missing information.

Excess payment

What is an excess?
An excess is a specified amount that you are liable to pay in the event of any claim being settled. For example, if you are in an accident and the damage amounts to R20 000, you will pay the first R2 000 (or an amount you chose to pay when your cover started) to the panel beater when you collect your vehicle once it is repaired. OUTsurance then pays the difference to the panel beater.

 

What is a fixed excess?
A fixed excess means that no matter what the value or nature of the claim, you only pay the agreed excess amount. OUTsurance offers you a fixed vehicle excess from as low as R1 000 which means that whether your car is damaged in an accident, written-off, stolen or hijacked you will only pay the R1 000 excess. There are no hidden 'surprises' when you find that you are liable for any higher excesses. Insurers charge you a percentage of the claim, so if your stolen vehicle's replacement value is R100 000, and the excess is 7.5% of the value, then you will have to pay the first R7 500.

 

Is there a benefit if I select a higher voluntary excess?
This will give you the benefit of a lower premium.

 

If I'm not at fault in an accident, why must I pay an excess?
You are always liable for the excess since we do not place blame as criteria in order to determine whether you need to pay an excess or not. We do however immediately initiate the excess recovery process from the guilty party and will refund your excess if we are successful with the recovery.

Premium payments

Can I pay my premium via the Internet?
No, we only work with debit order payments. This is so that we can ensure that your premiums are allocated on time and to avoid a delay in assisting you on any incidents.

 

My premium has been returned, can I pay it into your account?
You have a grace period of at least 15 days in which to pay premiums that were returned by your bank. You can leave the money in your account and we will re-submit the debit order automatically and this ensures that you have continuous cover.

 

I cannot pay this month, but will pay double next month - will I still have cover?
Your premiums are paid in advance so if you pay on the 1st of the month, you have cover for that month. We can collect your premium on any set day you choose within the month and we will collect your premiums on that day each month, We cannot double debit you for premiums that should have been paid in the previous month. If your premium is not paid for that month, you will not be covered.

 

Does my premium decrease in line with the value of my vehicle?
The annual premium review takes into account the depreciated value of the vehicle. However this is not the only factor which determines the premium. The majority of claims paid are for accidents and not write-offs or stolen vehicles. The cost of repairs and parts constantly increase with inflation. We thus need to increase our premiums as it costs more to repair vehicles.

 

Will my premium increase after a claim?
No, it will not. Your premium is guaranteed for a year. Your cover is reviewed annually and the premium is adjusted on your portfolio as a whole taking into account your claims experience.

 

Is there any premium benefit if I select a higher excess?
Yes. This will give you the benefit of a reduced premium.

Documents

Do I need to sign documents?
There is no paperwork to fill in, since all calls are digitally voice recorded, you can therefore take out cover, make amendments to your cover and lodge your claim telephonically. The recording ensures the safety of the information you provide and offers protection to both parties.

 

Do I need to sign documents?
There is no paperwork to fill in, since all calls are digitally voice recorded, you can therefore take out cover, make amendments to your cover and lodge your claim telephonically. The recording ensures the safety of the information you provide and offers protectI have lost my facility document - where can I get another copy?
You can phone our Client Care Department on 08 600 70 000 or load your request here and we'll call you back.on to both parties.