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Car-Insurance

SA drivers love their cars

A national client survey by Santam revealed interesting and surprising attitudes of drivers towards their vehicles, including emotional attachment and feelings of despondency if dispossessed of their much-loved cars.

  • 64% “very or extremely attached’” to their vehicle
  • 4 in 10 have named their ‘wheels’
  • 37% “unable to function” without their car
  • However, 45% do not know the current monetary value of their vehicle

The survey further showed that when asked whether they knew the current monetary value of their vehicle, nearly half (45%) did not know this amount, even though the majority (58%) of the participants had read their insurance policy in the last six months. An impressive 81% of respondents were aware of what their insurance covers.

However, when it came to the settlement car owners would be willing to receive if their vehicle was stolen, nearly half (48%) expected the full amount for which the vehicle was insured. Other settlement amounts that drivers would be willing to receive were “the market value the car was insured for (29%) and “a similar ‘replacement vehicle’” (23%).

Click here to download the full Santam media release on the survey.

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