Telematics Device
/tɛlɪˈmatɪks dɪˈvʌɪs/
The device installed in a vehicle that monitors and records data like driving behaviour, speed, and distance is called a telematics device. Insurers might use this data to provide personalised premiums or offer rewards based on safe driving.
Terms and Conditions
/təːmz (ə)n(d) kənˈdɪʃnz/
Also referred to as T’s and C’s (T&C’s) for short, or Terms of Service (ToS), these are the detailed rules and guidelines an insurer sets regarding the coverage, exclusions, and conditions under which they will provide insurance services. Terms and Conditions can also be a general disclaimer, especially in mobile apps and online websites.
Theft is the loss or damage of unlawfully taking someone’s property. Policies like comprehensive coverage or third-party fire and theft cover and compensate for this peril should the policyholder's car be stolen.
Third-party Accidental Loss
/ˌθəːd ˈpɑːti ˌaksɪˈdɛntl lɒs/
The unintentional damage or loss you cause to a third party’s property with your insured vehicle.
Third-party Liability Cover
/ˌθəːd ˈpɑːti ˌlʌɪəˈbɪlɪti kʌvə/
This policy protects you by providing coverage for damages or injuries caused to a third party or their property by your driving. However, it does not cover damages to your vehicle, meaning you’d have to pay for these costs from your own pocket
A list of tasks or actions that need to be completed, mainly in the context of the steps required during an insurance claim or policy renewal process. For example, most car insurance providers will require you to provide them with a pre-inspection to prove what condition the vehicle is in before your coverage begins.
A total loss happens when an insured item is damaged to the point of total ruin and can neither be repaired nor replaced. This is because the repair cost is higher than its insured value or when it's stolen and not recovered. In car insurance, a total loss can also be referred to as a ‘write-off’; when this happens, insurers usually pay out the car's retail or agreed value.
Unlike a telematics device, a tracker/tracking device is installed in a vehicle and uses GPS technology to locate and track the car. It helps recover a stolen vehicle and is sometimes required by insurance companies for high-risk vehicles.
Trade-in Value
/ˈtreɪdɪn ˈvaljuː/
The trade-in value is when you sell an item at a reduced price by giving your old/used one, plus money, as a form of payment. In the case of cars, the amount a car dealer agrees to pay out towards purchasing a new vehicle in exchange for the old one is its trade-in value.
TransUnion
/tranzˈjuːnɪən/
TransUnion is one of the major credit reporting agencies that collects and aggregates information on over one billion individual consumers in over thirty countries, including "credit scores. They serve consumers and businesses through several operating divisions, namely: Credit Bureau, Analytic and Decisioning Services, and Auto Information Solutions, as well as its network of local subsidiaries throughout the African continent.
Transparency
/tranˈsparənsi/
We use clear and plain language, making your purchasing process a breeze. Additionally, most people have no idea where their premium goes and what it is used for – we’ve changed that! We share the activity from our community in a way that’s easy to understand but still sensitive to personal information!
Underinsurance
/ˌʌndərɪnˈʃʊərəns/
Underinsurance is when a policy has insufficient insurance coverage. This is when coverage is lower than the item(s) value or potential loss. If a claim is made and approved, the payout might not cover the full extent of the damage or loss due to the insurance gap.
Underwritten/ Underwriting
/ˌʌndəˈrɪtɪn or ˌʌndəˈrɪtɪŋ/
Underwriting assesses the risk that you, a business, or an item poses. Using this assessment, insurance providers decide the terms and cost of the coverage. So, when a policy is said to be "underwritten," it means it has gone through such an evaluation process
A person, item, or risk that doesn't have insurance coverage is considered as being uninsured. In the context of motor insurance, "uninsured" relates to drivers who operate vehicles without mandatory liability insurance, often putting others at financial risk in the event of an accident.
In car insurance, "use" refers to how a vehicle is primarily operated or for what purpose. It can range from personal use, commuting, business use, or commercial use, and the type of use can affect insurance rates.
Validation is confirming whether the information provided for insurance coverage is accurate and complete; this could be for a claim you’ve submitted on your policy, for example. A validation process can also include checking driving records or the vehicle's condition.
Vandalism is the deliberate destruction or defacement of a person’s property, including vehicles, by another individual without their consent. This peril is almost always covered by most insurance providers offering comprehensive coverage.
Vehicle Accessories
/ˈviːɪkl kˈsɛs(ə)riez/
Most cars come with standard features from manufacturers, so any additional parts or equipment not included in the standard vehicle package are considered accessories. They’re typically fitted to enhance comfort, appearance or performance, e.g. high-end sound systems and custom mag wheels. Vehicle accessories often require separate coverage or declaration to be included in a policy.
Void means no longer legal, without legal effect or unenforceable. A policy is considered void if cancelled, invalidated, or nullified. Common grounds for a policy to be void are if the policyholder is found to have committed fraud, if the terms are violated, or if premiums are not paid, among other reasons.
In car insurance, a warranty is a guarantee by the manufacturer or dealer, promising to repair or replace defective vehicle components if they break or fail within a specified period. Most insurance policies don’t cover this peril, as it’s considered normal wear and tear, but some insurance products might offer warranty-like coverage for mechanical breakdowns.
Wear and Tear
/wɛː (ə)n(d) tɛː/
The gradual damage a vehicle experiences over time due to regular use rather than sudden and accidental damage is known as wear and tear. It’s commonly excluded from most policies because it's considered a part of routine vehicle maintenance and not an unforeseen event.
Window and Windscreen Repair
/ˈwɪndəʊ (ə)n(d) ˈwɪn(d)skriːn rɪˈpɛː/
This forms part of the insurance policy; you can recoup the cost of replacing the glass or repairing what's damaged at a lower excess amount. Some policies offer coverage specifically for repairing minor chips and cracks in the car's windows and windscreen without affecting your no-claims bonus
Windscreen and Window
/ˈwɪn(d)skriːn (ə)n(d) ˈwɪndəʊ/
The windscreen and window are the glass components of a motor vehicle; the windscreen (or windshield) is the front glass panel that protects the driver and passengers from wind, debris, and other external factors, while the window refers to the side and back glass panels. Damage to these parts is usually covered under comprehensive policies, but specifics can vary based on the insurer.
Write off/Written off
/rʌɪt ɒf or rʌɪtɪn ɒf/
The term write off, or to have something written off, refers to when an insurer determines that the cost to repair a car after an accident is greater than the vehicle's actual value. So, the insurance company will pay you the vehicle's determined value instead of paying for repairs.
Hear that? That’s the sound of someone sleeping peacefully, something all Pineapple members do after taking out an insurance policy with us. And with comprehensive coverage starting from as little as *R19 per day, it’s no wonder thousands of South Africans sleep soundly knowing the fairest insurance provider in the country protects them.
