OUTsurance Namibia announces a 15% discount on vehicle insurance premiums

As the COVID-19 pandemic continues to affect the livelihoods of many Namibians, OUTsurance has implemented a 15% premium discount on all existing vehicle insurance policies for the month of May 2020. This premium reduction recognises the reduced kilometres travelled and claims frequency, during the lockdown period.

Nangula Kauluma, OUTsurance CEO, says, “We understand the financial pressure that many of our clients are facing and we’re constantly looking for a way to assist, staying true to our brand promise that ‘you always get something out’.”

The 15% discount will be an automatic premium reduction on motor insurance premiums, without any action being required from clients.

The key aspects of our support for customers, service providers and staff to date are noted below:

Customers:

• 15% reduction on motor insurance premiums, for the month of May 2020 – this applies to commercial and personal lines vehicles.
• 15% premium reduction on all Goods in Transit cover for commercial clients.
• Clients within six months of their OUTbonus vesting date may use their OUTbonus balance for the payment of future premiums.
• Reduced excesses for any clients who claim between April and June 2020. Business OUTsurance customers will have a 50% reduction and Personal OUTsurance customers a 30% reduction in the excesses during this period.
• Amending cover without any impact to terms when changing it back.
• Extended the period on non-payments before cancellation is effected, with an additional period of two months. For cover to be unaffected premiums have to be paid up in full.

Service providers:

• Assisting our service providers with early payments for work still to be completed. This will assist them with cash flow to enable the survival of their business and payment of salaries to their staff.

Staff and Management:

• Providing work from home capabilities for many employees to help flatten the curve.
• Social distancing and safety measures taken in our offices for those that are unable to work from home.
• Full payment of salaries to staff in the period of the lockdown.

“The situation is constantly evolving and we will continue to monitor it over the coming months. We applaud the general sense of unity we’ve seen throughout Namibia so far and would like to assure clients, staff and suppliers that we will continue to assist wherever we can. We would like to encourage our clients to contact us if they are facing severe financial difficulties, rather than letting their policies lapse – we are happy to discuss the options available to them,” added Kauluma.