‘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.

Yes, the insurance premium will vary depending on the make and model of your car since every car has a different value, replacement cost and industry profile.

The retail value of a car is the average selling price of a vehicle by a dealer to a purchaser. The retail price is the closest value to the replacement value or cost of your insured motor vehicle.

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.

The time it takes for a payout depends on the type of incident and how quickly the relevant information and documentation is supplied to the claims department. As such, it varies from claim to claim and we cannot provide a fixed or standard time frame.

The annual premium review takes the depreciation of your vehicle into account. Your car will devalue over time and as it experiences wear-and-tear. While this is factored into our reassessment, the cost of parts and repairs for older car makes and models increases with inflation. Since most claims are for accidents and not write-offs or stolen vehicles, our premiums are likely to increase each year.

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.

You are welcome to choose your own panel beater or auto repair centre, but we cannot guarantee the quality of their workmanship. As such, we would prefer you take your vehicle to one of our pre-approved service providers.

Please submit all documentation using the forms on this page or in writing to claims@faredrive.co.za within 30 days of the incident.