Your Questions

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.

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.

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.

An excess is a specified amount of money that you are liable to pay in the event of any claim being settled. For example, if your property is damaged by a storm and the damage amounts to N$10 000, you will pay the amount as stated on your schedule to the contractor once it is repaired.  OUTsurance then pays the difference to the contractor.

A fixed excess means that no matter what the value or nature of the claim, you only pay the agreed excess amount.  OUTsurance offers you a fixed vehicle excess from as low as N$1 000 which means that whether your car is damaged in an accident, written-off, stolen or hijacked you will only pay the N$1 000 excess.  There are no hidden "shocks" when you find that you are liable for any higher excesses.  Most insurers charge you a percentage of the claim, so if your stolen vehicle's replacement value is R100 000, and the excess is 7.5% of the value, then you will be liable for the first N$7 500.

This will give you the benefit of a reduced premium.

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.

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.

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.

No, it will not since your premium is guaranteed for a year.  Your cover is reviewed annually and the premium is adjusted on your portfolio as a whole taking into account the claims experience.

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.

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.

The OUTbonus is only payable after a 3 year claim free period and does not build up any loan value.

NO. This is so that we can ensure that your premiums are allocated on time and to avoid a delay in assisting you on any incidents.

You can leave the money in your account and we will re-submit for you.

Our billing is in advance.  We can resubmit for you on a day within that month, but not double debit you.  If your premium is not paid for that month, you do not enjoy cover.

We cover the buildings on a new for old basis.  This means that we replace old, damaged items with new ones following a claim (e.g. replacing a burst geyser with a new one).
In calculating the replacement value of your property we take into account the costs to demolish damaged structures, remove the debris, payment to professionals and municipal services and, other similar charges before any new construction can start.
Coupled with these costs are the actual costs for materials and labour.  These costs, like many others, are determined by the building industry.  We update these values on a regular basis for your convenience.  We also update the replacement costs of the buildings annually as part of the review of your facility.

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.

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.

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).

No damages, unless the truck has been in an accident.

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.

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.