These are the car insurers cutting premiums – or not –during lockdown
See which firms are passing their lower risk on to clients – and which new product is a clear winner
The death toll over the Easter weekend traditionally makes for agonising reading. Last year, for example, 162 people lost their lives on SA’s roads over those four days.
This Easter, there was a dramatic 82% reduction in the number of fatalities — to 28. And no wonder — there was 70% less traffic on the country’s roads, thanks to our Covid-19-related legal lockdown.
It doesn’t take a genius to work out that if there are fewer car accidents happening during lockdown, fewer people are making accident and hijacking claims, and the insurers’ claims ratios — premium income vs amount paid out in claims — has got a whole lot rosier for them...