Common Value-Added Insurance claims and their causes

Value-Added Insurance policies can save you from unexpected expenses. Value-Added Insurance policies give you cover for smaller, yet significant, incidents that still leave a dent in your budget.

To illustrate how these policies can benefit car owners, let’s consider a typical day in your life, as a car owner. We’ll also look at the potential problems you could face on any usual day, that could end up turning your day into a disaster. 

A Day in the Life of a Car Owner

Morning trip to work

You start your day with a smooth drive to work. And then, you hit a pothole that damages your tyre. Even if you’re a careful driver, the roads you travel on daily are not always in the best condition. Your tyres are exposed to countless hazards on a daily basis. Think of potholes, glass, or debris waiting to disrupt your day and drain your wallet. With our Tyre and Rim Insurance, you can bid farewell to these worries and keep your budget intact.

Quick afternoon shopping

During a quick stop at the shops, your parked car becomes a victim of a rogue shopping trolley, leaving a noticeable scratch and dent. Unfortunately, nobody has control over trolley dents, stone chips, and scratches. Scratches and dents on your car lower the value of your car, and can leave a dent in your budget. With our Scratch and Dent Insurance you can keep your car in showroom condition, without breaking the bank.

Late afternoon drive home

As you head home, your gearbox suddenly malfunctions, leaving you stranded on the N2. This is where a Motor Warranty comes in handy, covering the expenses of repairing major mechanical components. Every time you drive, there are thousands of moving parts in your vehicle, it’s only a matter of time before something fails. An unexpected breakdown can be devastating, setting you back tens of thousands of Rands. Keep your car on the road and protect your wallet from expensive car repair bills with our Warranty options.

Common Value-Added Insurance claims and their causes

Our expert claims team processes a significant volume of Value-Added Insurance claims. We asked them about the most common types of claims. Moreover, we asked them to share the causes too, so you can be informed and learn more about how Value-Added Insurance helps you retain the value of your car. Here are some of the most common types of Value-Added Insurance claims:

Tyre and Rim Insurance claims

The average Tyre and Rim Insurance claim will set you back between R1,500 to R4,000 or more, making this coverage a valuable addition to your insurance portfolio. Our Tyre and Rim Cover gives you coverage for specified damage to your vehicle’s tyres and rims. Having to unexpectedly replace a tyre or rim can set you back a few thousand Rand. This can do serious damage to your wallet, especially if you haven’t been putting money aside for these types of situations.

Common causes of tyre and rim damage

  • Pothole damage: Hitting a pothole on your way to work can damage your tyres and rims.
  • Curb impact: Accidentally hitting a curb can result in bent rims or punctured tyres.
  • Debris on the road: Nails, glass, and other sharp objects can cause punctures or tears in your tyre.

Scratch and Dent Insurance claims

A minor scratch or dent on your car could cost anything from R500 to R2,500. Scratch and Dent Insurance helps you maintain your vehicle’s appearance and resale value, while protecting your budget. This insurance covers the costs of repairing minor cosmetic damages that often occur in everyday driving situations. 

Common causes of scratches and dents on your car

  • Rogue trolleys: One of the most common causes of scratches and dents on your car are rogue trolleys.
  • Door dings: Careless drivers opening their car doors in tight spaces can ding your car.
  • Environmental damage: Incidents such as hailstorms, falling branches, or debris kicked up by other vehicles can cause damage to your car’s exterior.

Motor Warranty claims

A Motor Warranty is a vital addition to your insurance portfolio, giving you extended coverage for major mechanical and electrical components of your vehicle. Unlike your standard Car Insurance, which focuses on accident-related damage, a Motor Warranty protects your wallet from costly repairs caused by mechanical or electrical failures.

Common types of Motor Warranty claims 

  • Engine component failures: Engine problems often arise from lack of maintenance, or manufacturing defects.
  • Transmission failures: Transmission issues typically stem from fluid leaks, worn-out gears, or malfunctioning sensors.
  • Electrical failures: Electrical system failures are often caused by faulty wiring, malfunctioning sensors, or defective control units.
  • Cooling system failures: Cooling system failures commonly occur because of radiator leaks, faulty water pumps, or damaged hoses.
  • Suspension and steering failures: Suspension and steering issues usually result from worn-out shocks, struts, or steering components.

Explore our Value-Added Insurance products

At Bidvest Insurance, our Value-Added Insurance products are designed to do more than just complement your standard coverage. They provide an extra layer of financial protection to ensure you don’t have to pay out of pocket. You also can avoid dipping into your Comprehensive Insurance policy for smaller issues, potentially keeping your premiums lower in the long run.

Interested in learning more about one of our policies? Don’t wait, complete the form below, and one of our consultants will call you back.

Cover for you and for your car.

Bidvest Insurance offers a wide range of insurance products to meet both your personal and vehicular needs.

  • Legal Angel
  • Scratch and Dent
  • Tyre Angel
  • Theftbuster Plus
  • Warranty

Simply complete your details so a Bidvest Insurance consultant can call you back to assist you.

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