We have compiled a list of frequently asked questions that we are asked on a regular basis.
General FAQ's:
-
What happens to my No-Claim Reward if I claim?
Your No-Claim Reward is forfeited should any claim be settled, except if the claim relates to a vehicle windscreen repair (but not replacement), benefits claimed under your Retrenchment Premium Waiver policy or use of the iWYZE iALERT emergency assistance service. The 3-year cycle, however, starts again immediately, and your No-Claim Reward will be paid once the next 3-year claim-free cycle is completed.
-
Can I take a loan against my No-Claim Reward?
The No-Claim Reward is only payable after a 3-year claim-free period and does not accumulate any loan value and also cannot be used as security for any loan.
-
If I can't my premiums this month, will I still have cover?
Your policy must be paid monthly in advance on the agreed date as stated in your Policy Schedule. It is your responsibility to ensure that there are sufficient funds in your bank account so that the debit order can be processed. If no premium is received on the agreed date, iWYZE will make a further payment request within 15 days. If no payment is received within this 15-day period, your policy will be cancelled and you will have no cover for the period for which you did not pay. You will also lose your No-Claim Reward.
This 15-day grace period does not apply for the first month after your policy has begun, and non-payment during the first month will result in the policy being automatically cancelled. If you cancel or reverse your debit order, this will mean you have cancelled your policy and your will not have cover, with immediate effect.
-
What if my policy information changes?
Should any of the information contained in your Policy Schedule change, this could affect your cover; the conditions of cover and your premium. You must immediately inform iWYZE of these changes.
Examples of information changes:
- Moving to a new residence (temporary or permanent).
- Changing the regular driver of your insured motor vehicle (temporary or permanent).
- Convictions for offences relating to dishonesty, against you or any person covered under this policy.
- Getting tenants to rent your property.
-
What if I need to submit a claim?
If an event happens that is likely to result in a claim, you must notify iWYZE as soon as possible. (You have 30 days from the date of the loss.) Notification can take place either telephonically or in writing.
-
What is Consequential Loss?
This refers to insured loss or damage that results in further indirect losses.
Example: A burst water pipe will result in water being lost and an unusually high water account. (This would be the indirect result of a burst water pipe.)
-
Where else in Africa am I covered?
Your iWYZE policy only covers loss or damage that arises within the Republic of South Africa, Botswana, Lesotho, Mozambique, Malawi, Namibia, Swaziland and Zimbabwe, unless otherwise specifically stated. Refer to your policy documentation for more information.
View FAQ's relating to the following:
iWYZE is underwritten by Mutual & Federal Insurance Company Limited, a member of the Old Mutual group. Mutual & Federal and Old Mutual are Licensed Financial Services Providers.