Beware unseen costs of theft or hijacking

SOUTH African motorists should be aware of the unseen costs that can be involved when they are victims of car theft or hijacking, multinational insurance brokerage firm AON cautioned.

According to the South African Police Service’s latest crime statistics report, there were 4 794 car hijackings in the country from October to December 2020, translating to about 52 cars being hijacked every day.

One hundred and nine cars were stolen daily during the same period, the report also said.

While car insurance is a useful safety net when a vehicle has been hijacked or stolen, there are still many unseen costs that can arise, AON South Africa’s Mandy Barrett said.

“The best advice is to mitigate your risk as far as possible with correctly scoped insurance and advice, deploying security measures to deter would-be criminals, strictly adhere to road safety rules and to drive defensively,” she said.

“Your ultimate goal is to mitigate your risk as far as possible and have appropriate insurance in place for those mishaps that cannot be avoided, putting you back in the same position – financially – as you were before the loss.”

Barrett urged motorists to have an expert broker read through their policies for a clear understanding and to identify gaps that may leave them financially compromised.

Some additional costs to consider when taking vehicle theft into account include the excess charge, which is usually five percent of the loss.

Barrett also warned motorists against leaving valuables in their vehicles. Personal items not listed under “All risks cover” would not be covered in the event of theft, she added. | African News Agency (ANA)