| What happens to my OUTbonus if I claim? |
| Your OUTbonus is forfeited should any claim be settled. The 3-year cycle however starts immediately once again and your OUTbonus will be paid once the 3-year claim free cycle is completed. |
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| What is the OUTbonus? |
| The OUTbonus is a cash bonus that rewards you for not claiming. Should you not claim for 3 consecutive years, you will receive a set percentage of your premiums paid in this period at the end of the third year. Should you not claim for a further 2 years you will receive a set percentage of the premiums paid within this period at the end of the fifth year. Thereafter for each successive claim-free year you will receive a set percentage of all your premiums paid within the year at the end of each year. |
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| Can I take a loan against my OUTbonus? |
| The OUTbonus is only payable after a 3 year claim free period and does not build up any loan value. |
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| How do I determine the value of my contents? |
| We can provide you with an inventory to assist you in itemising the contents and determining their values. We also have specialist advisors who can assist you with any queries you may have regarding this.
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| Must I cover these goods for their replacement value? |
| We cover your goods on a new for old basis which means that when your items are stolen we replace them with similar, or where appropriate, brand new items, hence the need for your goods to be covered for their current replacement value. |
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| What happens if I undervalue my contents? |
| You then carry part of the risk should there be a loss. In practice this means that if your contents are covered for N$100 000 whereas they should be covered for N$200 000, and you lose N$20 000 worth of contents in a burglary, we will settle N$10 000 and you will be responsible for the remaining portion of the loss. (This is the principle of average). |
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| Will my goods be covered for damages while I am moving house (when I have taken the Theft in Transit option)? |
| No damages, unless the truck has been in an accident. |
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| Can I cover my computer for business use under my Contents Cover? |
| Yes, as long as the sum OUTsured under contents includes the value of the computer, and a clear note must be made of the computer details. |
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| What is the difference between the retail and the market value of my vehicle? |
| The retail value is the higher of the two. The retail value is the average price a dealer would sell the vehicle for taking its age, condition and mileage into account. If your vehicle is covered for its retail value, and it is either written-off, stolen or hijacked without being recovered, the settlement amount will be based on its retail value less the applicable excess. This will enable you to replace the vehicle with a similar model. The market value is a lesser value for which a discounted premium is charged. |
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| Why do I need to install extra security devices in my vehicle? |
| Although vehicle theft is not a common occurrence in Namibia, such incidents are on the increase. We take a preventative approach to the problem by requesting the installation of quality anti-theft devices in order to minimize or prevent vehicle thefts and hijacks. The initial few hundred Namibian dollars outlay is worth the investment ... ask anyone who has had a vehicle stolen. |
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| Why do I need to fit an immobiliser when I have a gearlock? |
| An OUTsurance approved immobiliser is self-activating so you cannot forget to activate it as is the case with a gearlock. It is also far more complicated for the average car thief to override. |
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| Why do I need to take my vehicle for inspection? |
| We need to see if there is any existing damage to the vehicle, confirm if the immobiliser is adequate and obtain the details of any non-standard accessories and sound equipment. |
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| Does my premium decrease in line with the value of my vehicle? |
The annual review takes into account the depreciated value of the vehicle. However this is not the only factor which determines the premium. The majority of claims paid are for accidents and not write-offs or stolen vehicles. The cost of repairs and parts constantly increase with inflation. We thus need to increase our premiums as it costs more to repair vehicles. |
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| Is there a benefit if I select a higher voluntary excess? |
| This will give you the benefit of a reduced premium. |
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| If I am not at fault in an accident why must I pay an excess? |
| You are always liable for the excess since we do not place blame as criteria in order to determine whether you need to pay an excess or not. We do however immediately initiate the excess recovery process from the guilty party and will refund your excess if we are successful with the recovery. |
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| Can I have my vehicle repaired at a panel beater of my own choice? |
| Strictly speaking, the choice of any panel beater rests with us and we have established a selected panel of repairers whose work is guaranteed for 12 months. However you can elect to choose your own repairer with the understanding that OUTsurance cannot guarantee the quality of workmanship. |
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| If my stolen car is recovered one day, do I have the right to buy it back from OUTsurance? |
| OUTsurance has a salvage contract with an external company which sells all recovered vehicles on auction. You would need to deal directly with the salvage company. |
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| Click here to view all FAQ's. |