FREQUENTLY ASKED QUESTIONS

Question: Who can I contact if I have any queries or problems on my policy?
Answer: We have 2 insurers on our panel, Regent Insurance and Alexander Forbes. 

For all queries on Chrysler, Jeep or Dodge Comprehensive Insurance underwritten by:
Regent Insurance, please contact 0861 004 845 or mbfs@regent.co.za
Alexander Forbes Insurance, please contact 0860 100 002 or mbfs@regent.co.za

Question: What does insurable interest mean and to whom does it apply?
Answer: Insurable interest can be defined as the legal right to insure and means that the policyholder must have an actual, recognized relationship with the asset to be insured, as a result of which he/she would suffer a financial loss if the event being insured against occurs.

Question: If my premium does not go through, will I be covered in that period for any insured events?
Answer: If the insurer fails to collect the premium, liability cannot be denied. However, if you fail to pay the premium on the due date, a grace period of 15 days would be allowed. Should you suffer a loss during this period of grace, your unpaid premium must first be settled in full before the claim can be processed.

Question: What are the differences between Social Use, Private Use and Business Use?
Answer: The correct classification of use is required by the Insurer in order to determine its risk exposure. Vehicles, which are used more frequently, are more exposed to accidents, which therefore necessitate a higher premium. It is therefore of paramount importance that the correct class of use is correctly defined from the outset.
The different classes of use are clearly defined in your policy wording, however, the following will serve as an example for ease of reference:
Social Use: Mainly home executives, pensioners, etc. Private Use: Employees traveling to and from work Business Use: Sales reps and professionals who visit clients on a regular basis excluding commercial use and the carrying of stock trade

Question: Will my vehicle be replaced with a new vehicle within the first year should it be a total loss?
Answer: Your vehicle will be replaced with an exact new vehicle, provided such vehicle is reasonably available and the vehicle is not older than twelve months after the date of first registration.