Naked Insurance, like many other local service providers, is tailoring its offerings to help customers during the national lockdown and effects of COVID-19.
To that end the insurance firm has announced that it is reducing the cost of its CoverPause premiums for clients, planning to return them to normal from 1st July onwards, depending on the lockdown and status of COVID-19 in South Africa of course.
As such Naked Insurance clients who make use of the platform, can activate CoverPause if it has not been activated already, and expect to pay an estimated 10 percent of their normal premiums while this offer is being made available.
“This should help ease the financial burden for many of us while our cars are not being driven,” explained Naked in a press release sent to Hypertext.
“We can do this because our actuaries have been taking a close look at how the severe restrictions placed on mobility affect a car’s exposure to theft and Mother Nature. They have concluded that the risk is considerably lower, and that during this period we can significantly reduce premiums on CoverPause,” it adds.
Naked also points out that when clients are on CoverPause, their car will be fully covered for things that could go wrong while it is parked. That said, there’s no cover if it’s being driven. They add that if your accident cover is paused, you should not drive at all.
“If you need to drive to get supplies just pop back onto the app and unpause your cover for that day,” the firms advises.
As such, those wanting to take advantage of the offer, will need to keep a close eye on their app in order to qualify throughout the nine weeks it is being made available.