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Make Sense of Car and Home Insurance

By Ctrl 7 April 2022 3min read

From tricky puzzles and codes to clever conundrums, we love a brainteaser as much as the next guy. But just like the next guy, our curiosity fizzles and our eyes glaze over when we have to hunt for answers in the pages of a contract.

We get it. Car and home insurance, otherwise known as short-term insurance, can seem complicated. That’s one of the reasons why we’ve developed Ctrl. Our app takes the hassle out of getting and comparing different quotes from SA’s top insurers, and our friendly advisors are on call to clear up any confusion along the way.

Empowering yourself with a little foundational knowledge will make your insurance journey easier, too. And it might help you avoid some crucial mistakes. Let’s get deciphering!

Quotes vs Rates

The big difference between insurance quotes and rates is accuracy. A rate is usually nothing more than an estimate based on limited information. A quote, however, is calculated after you’ve submitted all your required underwriting information, which makes it accurate. This is an important distinction, and one to look out for. Sometimes aggregators wrongly refer to the rates they provide as quotes, which means there could be a vast difference between what you think you’re being quoted for, and what you actually end up paying.

We promote transparency at Ctrl. We also love saving time. That’s why we ask for all your information up front. This allows us to give you an accurate real-time quote from the get-go, and not an estimate that needs to be refined at a later stage. Our quotes are instantly binding, so should you choose to accept, you’ll be covered immediately, too. Yup, that’s peace of mind!

Personal vs Commercial

If your car and home are being used for everyday things like driving to work and back, going to client meetings, or just blissful living, a personal insurance policy is required. As soon as you generate an income from these assets, you need a commercial insurance policy.

What do we mean? If you use your car as an Uber or delivery vehicle, Airbnb your home, or somehow use these assets directly to make money, they’re viewed as part of your business and require commercial insurance cover.

Premium vs Excess

Premiums are fixed amounts that you pay towards your insurance. Most insurers require premiums to be paid monthly via debit order. By doing so, you ensure that your insured items are covered in case of a claim.

Excess is an agreed-upon amount that you’ll have to pay if your claim exceeds the insured amount. It is very important that this is considered during the quoting process when deciding on a premium. Higher excess could reduce your monthly premium and could therefore be seen as some form of ‘self-insurance’.

Essential vs Convenience Cover

Essential cover, as its name suggests, is must-have cover; the bare minimum. For instance, insurance that covers the repairs of your vehicle in case of an accident.

Convenience cover makes life a little more – you guessed it – convenient by giving you that little extra. Like accommodation, if your car breaks down when you’re travelling.

Your cover is as unique as your needs. Luckily our algorithm takes all your preferences into account before recommending a quote. Connect with a digital insurance assistant that helps you make sense of your car and home insurance and get stuff done right now.