WesBank Insurance is a division of FirstRand Bank Limited, South Africa's most innovative Bank and the second largest listed banking group (by market capitalisation) on the Johannesburg Stock Exchange (JSE). WesBank focuses on financial and management solutions, offering their services to a variety of audiences. WesBank Insurance offers asset financing solutions, specialising in insurance for the motor sector.
WesBank Insurance offers both personal insurance and vehicle insurance. With regards to personal insurance, a number of products are offered including a customer protection plan (known as Credit Life), a health credit policy, and a retrenchment policy. These affordable products are available to all customers with asset-based WesBank finance.
When it comes to WesBank vehicle insurance, WesBank Insurance only offers comprehensive car insurance – and no third party insurance, fire and theft insurance or third party only options. WesBank’s Comprehensive vehicle insurance covers any damage or total loss caused to your car by accident, fire, theft or third party liability. This cover is arranged over the phone, with no paperwork involved.
Other types of coverage offered by WesBank Insurance are CoverPlus, Return to Invoice, and SMART. The Cover Plus option means that if your vehicle is written-off or stolen, The CoverPlus policy pays the shortfall for you. This policy also extends to cover your vehicle if it gets minor scratches and dents. Another benefit of the CoverPlus policy is that if you unintentionally fail to comply with the underlying insurance policy conditions and the insurer repudiates your claim, CoverPlus will kick in.
With the Return to Invoice policy from WesBank Insurance, you will be protected from the effect of vehicle depreciation. If your vehicle is stolen or written-off, the policy covers the difference between the original purchase price of your vehicle and its insured value. The main benefit of this policy is that it protects the client from significant financial loss.
Finally, the SMART policy from WesBank Insurance covers the repair of minor dents, chips and scratches on your vehicle, helping you keep your vehicle in showroom condition. It allows you to maintain the condition of your vehicle's exterior, meaning you also save money at trade-in without compromising the no-claim bonus on your motor insurance. Mobile repairs are also done where possible. The claims process for SMART is user-friendly and you're able to keep your vehicle in mint condition, increasing your chances of receiving an excellent trade-in valuation. You have cover for 36 months.