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Mmela Financial Services is the go to insurance brokerage partner with the best insurance solutions for your pocket.
What coverage can you consider for your car?
Comprehensive Car Insurance
Is a type of coverage that goes beyond basic protection for your car. It shields your vehicle from a variety of risks such as accidents, theft, fire, and other specific events. This insurance not only covers damage to your car but also extends to claims from others, including the cost of repairing or replacing your windshield and glass components.
Third Party, Fire and Theft Insurance
Third Party Fire and Theft Car Insurance offers protection in situations where you’re at fault for an accident that causes damage to others or their property. Additionally, this insurance covers the expenses incurred if your car is stolen, hijacked, or damaged by fire
Third Party Only Insurance
Third Party Only Insurance, is the most basic car insurance coverage, primarily safeguards others involved in an accident where you’re at fault, covering their injuries or property damage, while excluding coverage for your own vehicle.
Why Do You Need Car Insurance
Financial Protection
Car Insurance shields you from unexpected expenses by covering vehicle repairs, replacements, and medical cost resulting from accidents
Protection from Liability
If you’re found responsible for an accident, you may be liable for damages to others involved, including their vehicle repairs, medical bills, and legal fees, Car Insurance, particularly liability coverage protects you from these potential expenses.
Peace of Mind
Having car insurance offers peace of mind while driving. Knowing that you’re financially protected in case of an accident or any damage to your vehicle can reduce stress and worry while on the road.
Value Added Services
Value-added Services are services that are attached to your primary insurance policy
Types of Value Added Products and Services:
- Auto top-up or Credit Shortfall is a finance shortfall cover that is designed to protect car owners who have financed their vehicle through a bank. This covers the difference that you owe the bank between your policy settlement and your finance amount should your vehicle be written off, stolen or hijacked.
- Car Hire
- Scratch and Dent Insurance.
- Tyre and Rim Insurance.
- Extended Vehicle Warranty.
- Pre-Owned Vehicle Warranty.
- Legal Insurance.
- Excess Reducer.
Get To Know Your Insurance Terms
Understanding insurance terms empowers you to make informed decisions, effectively manage risks, and ensure you have the right coverage you need when unexpected events occur
Consequential Loss
Consequential loss, also known as indirect or secondary loss is any additional loss or damage as a result of the insured loss or damage. This type of loss is not directly caused by the event itself, but rather arises as a consequence or aftermath of the primary incident.
Indemnity
Indemnify is to put you as nearly as possible in the same financial position after a loss as you were in before the loss. You are not entitled to receive a claim settlement greater than the loss you have suffered. The insurer may at their option repair, reinstate or pay cash for any loss or damage.
Excess
Excess is the first amount you must pay before the insurer settles a claim, It’s also known as a deductible.
Exclusions
Exclusions refer to specific conditions, situations, or risk that are not covered by an insurance policy. These exclusions are detailed in the policy documentation and define what the insurance company will not provide coverage for.
Schedule
The schedule sets out the type of insurance you have bought, the people who are insured, the period of insurance, the amounts you are insured for, the excesses that apply and the premium you must pay, any changes to your policy will be shown in your schedule and will form part of your policy.
Renewal Date
Renewal or Anniversary means the date 12 months after the start date of your policy, unless your policy specifically states otherwise. Leading up to this date, the insurance company typically sends a renewal notice outlining any changes that have been made to your policy, coverage, premiums, or terms.