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SMART IDEAS FOR. Switch your cover on – only when you need it!. A s much as 60% of the hired car expenditure is insurance expenditure. Insurance rates charged by car companies are in the region of 82% over a year with substantial profits.
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SMART IDEAS FOR Switch your cover on – only when you need it! As much as 60% of the hired car expenditure is insurance expenditure. Insurance rates charged by car companies are in the region of 82% over a year with substantial profits. However, with Ghost Car you can put those savings into your pocket. SMART COMPANIES Resolution Park President Fouché Avenue Bromhof 2154 For more information call: 086 11 22 333 It is as easy as this… Underwritten by Safcam (Pty) Ltd on behalf of Constantia Insurance Company Limited
086 11 22 333 Operating Procedure for your Ghost Car • Buy your policy in advance • Identify how many times you will need a rental car in the next year by adding 10% to the previous years usage • Pick an average, maximum value, say R 100 000 • Multiply R 100 000 by 20% and Divide the answer by 52 weeks • Multiply the result with your estimated weeks usage (say 3 weeks) • Add 10% Contingency Reserve for a sleep easy, and make a cheque payable to Constantia Insurance Company to the amount of R 1 269.25 – includes 12.5% broker commission • Safcam will then issue a policy covering you for three weeks, and a bit, to cover your virtual vehicle against theft, loss or damage. • For the remainder of the next twelve months you have three weeks, and a bit worth of sleep easy, understandable cover, affordable excesses and the nice folk at Safcam to bail you out in the event of an accident or theft.
Typical Example Insured Amount R 100 000 x Rate 20 % Annual Premium = R 20 000 / 52 Weeks = R 384.62 Utilisation 3 weeks * R 1 153.86 + 10% Contingency Reserve = R 115.39 Shareblock Premium = R 1 269.25 * Unutilised weeks get carried over to the next year. A 15% inflation escalation is applied to insured amounts. How much cover do you really need?
F.A.Q Q: Switch it on? A:Yes, when you rent a car at a rental agency, say that you do not need the insurance cover they provide. When you walk to your rental vehicle and phone the Ghost Car call centre on 086 11 22 333, give your policy number (Tel no) and give the car you are about to rent, the registration number, the make and the type. Walk around the vehicle to make sure you are getting an undamaged car. We will then, as we say, “switch on” or activate the policy. As you get into the car, confirmation of cover will be faxed, e-mailed or sms’ed to you or your office. It’s as simple as that. Q: But how does it work? A: Well, like a car, if you want to use the policy, then you switch it on, and when you are done, switch it off, thereby you do not pay for cover you do not need. Switch your cover off – when you return the vehicle!
F.A.Q Q: Who may drive the Ghost Car? A:If the master policyholder is a company, then any one in the fulltime employment of the company. If you have taken out the policy in your personal name, then any bona fide friend or relative. Q: Switch it off? A: When you return the car, phone us and we will switch off the policy, subtract your usage from your balance and let the policy go to sleep until the next time you need it. In the meant time, we will e-mail you the status report of your “Ghost Car Time-share Programme” directly to you Q: What if you have an accident/the vehicle is damaged or stolen? A:Take the particulars of the other party including their insurer & witnesses. Report it to the policy and take down the police report number. Phone Safcam (Pty) Ltd or your broker and report the incident. Contact the rental agency as per your contractual obligation to them Q: Carry forward? A: At the end of the year, we will carry the unused full weeks forward for your next book year.
