Frequently Asked Questions
‘Excess’ is an agreed % of money that you must pay in order to settle a car insurance claim.
If your vehicle is written off or declared a total loss (usually when the cost of repairs is higher than the insured value), the excess amount will be taken off the final pay out. If your vehicle is able to be repaired, you will be required to pay the excess amount.
For example, if the excess is R15,000 and the damages cost R50,000, you will be liable to pay the repairer R15,000 and FareDrive will pay the outstanding balance of R35,000.
When it comes to motor insurance, market value (usually lower than the retail value) is the average between the likely trade and retail value of the car, which takes into account: mileage, vehicle condition, service history and accident reports.
As part of our initial inspection, we need to perform a number of standard vehicle checks, which include: assessing for existing damage if any, evaluating anti-theft devices meet our requirements and confirming fitted vehicle accessories or sound systems.
Fitting your vehicle with security devices minimises the chance of theft. Taking a preventative approach can help reduce or eliminate the chance of carjacking and motor vehicle theft. Installing approved anti-theft devices is an investment that will lessen your risk, lower your insurance premium and possibly save you from the delays associated with repairing or replacing a vehicle.