Business / Commercial insurance?

With the company expanding I needed to buy more vehicles. The insurance is a real pain in the %@$3

Can anyone make recommendations for commercial insurers. I want to get some quotes as i believe my Insurer is not giving me the best deal.

I use Naked Insurance (Hollard). The best thing is it is all managed on an app on your phone. Even the quotes. So if you just want to compare this is very lekker :smiley:

Edit. Oh and you can pause accident cover for days when you don’t drive (or when employee is on leave)

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Naked Insurance does not do commercial vehicles.

My advice, find another broker who deals with commercial insurance.

Hmm. You are correct. You can say For Commercial Purpose, but then at the very end it tells you “Not Yet”.

A broker can be worth their weight in gold. Years ago I discovered that the quotes I got through brokers are often less than what I get when I go “direct”. I soon discovered that insurance companies give brokers preferential pricing, probably for two reasons: 1) They can offload some of the work onto the broker, 2) the broker represents multiple clients.

The broker gets commission of course, but if the commission is sort-of the insurer PAYING the broker to take some work off its hands, and if that amount is less than the discount the broker gets, who cares… you win all the way!

Furthermore, it is soooo much nicer to call your broker to get stuff done: Hey, I need to add a vehicle, hey, I need a border letter, hey… I was in a bit of an accident… hey, the repairer is taking a bit long, what is up… etc.

Also, once a year, I get my renewal paperwork. It often comes with a note of 1) how much the insurer wanted to charge, 2) how much discount they already arranged. I don’t have to even ask…

As a result, Outsurance’s “we’ll pay you if we cannot beat it” scheme was largely wasted on me. On paper… maybe. And only for the first year. I love my broker and I will not move.

Who is your broker?

Warrington Insurance Brokers. Right here in my home town.

They said, I quote: Commercial use is when you use your car to transport customers for money or transport goods and materials as part of your business. So for example, a sales rep or consultant isn’t commercial use, but an Uber driver or plumber is…

One explication I heard today… Commercial is when you transport people or materials to a paying customer…

I use Ream Insurance Brokers (Tuffstuff). Speak to Deon. They the brokers for both my businesses and personal. (Vehicles, equipment, firearms, etc) I speak to one guy and things just get done; been with them for 14 years.

In the one or two instances I’ve bothered to check with competitors, Ream still gave me the best deal.


Also use Naked.

Problem is that naked don’t offer commercial insurance…

Awaiting some quotes from brokers

Just a titbit or two about buying insurance via a broker/insurer.

  1. The price tends to be cheaper via a broker because the insurers “pay” the brokers to take over all the work, the insurer just pays the claims.
  2. Broker talks direct to the clients, has to “fight” against increases from an insurer, for getting claims paid, or getting that claim paid that is not really cut and dry, and they need to convince clients to stay if an increase is necessary. The better the broker’s service, the more profitable they run their book, the lower the premiums are that they can offer their clients.
  3. Direct insurers are not cheaper, they appear to be, but are not when one reads the small print of the policy and policy wording, or when one has to argue a claim. Hollard/Naked though is quite a progressive company, clever move they made with the Naked product. Having said that, my broker is cheaper, covers more, than Naked still.
  4. No one can earn any commission/fees on insurance premiums unless they are a registered Financial Service Provider. And it is a lot of work to get registered … and to stay certified.
  5. Commission % are set per class of business.
  6. Fees on the other hand can differ. Either insurer pays for such or the broker can legally add additional fees to the policies. These fees are quite necessary cause the commissions are set, yet the industry must use more paper, pay for very expensive software systems monthly, than what the Amazon forest can produce to tell their clients everything, or else the Ombudsman gets involved. The joke is, no one READS the copious amount of information that the industry, by law, has to provide their clients with. :laughing: And that is also why it is such a good idea to have a broker “dumb it all down” for clients like me.

Some good news. The broker came back to me yesterday and we had a meeting today.

Their Quotation on my personal and household insurance were 1rd lower than my current insurance. They do however offer me a lot more cover than the current policy.

My current business insurance on two vehicles is R3.5k, and that was my main concern.

Santam now offered me the same cover at R1.1k. I then added goods in transit, goods in storage, extensive tool and machinery cover, poor workmanship cover for if someone accidentally blow something up, different public liability covers, theft, fire, and basically all risk covers on about everything that could happen to the company and still ended up cheaper than my current insurer.

Definitely switching to Santam and definitely using brokers in the future…

Thanks for all the inputs.


Fantastic! My lone voice in the dark was picked up.

Not really, the broker was contacted before I made the post, the post was mearly to get more opinions, but thanks for the confirmation…

Hey, there were at least two of us singing the praise of a proper broker :slight_smile:

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Me to - my premium has come down every year for the last 3 years… Good broker who does the legwork and negotiates.

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man that is good news. Well done.