Who is Absa?
Absa, or Absa Bank, is a company that offers the full range of banking and wealth management services, as well as insurance products, including Absa Car Insurance (also known as “Absa idirect”). Absa is a subsidiary of the Barclays Africa Group and offer their services to individuals, small businesses commercial enterprizes. According to their website, Absa ‘feels’ that the way that they provide their services is of equal importance to the actual services themselves. The executive directors of Absa are David Hodnett and Maria Ramos.
According to recent online news, Absa officially opened an exclusive entrepreneurship centre in Johannesburg in November, 2013, as part of its plans to allocated a large sum of money to the small business sector in the hopes of helping to develop small businesses.
Where is Absa located?
Absa’s corporate office is located at 7th Floor, Barclays Towers West 15 Troye Street, Johannesburg, 2001. Their postal address is P.O. Box 7735, Johannesburg, 2000.
What services does Absa offer?
Absa offers banking, finance and insurance services. For the individual, Absa’s insurance options include life, travel, Absa car insurance and home insurance to name a few.
Absa Car Insurance – via Absa idirect
When looking into the Absa Car Insurance service, it is important to know you have two choices. One is to obtain car insurance directly through Absa idirect, and the other is to obtain the insurance through one of the Absa Insurance Advisors who is supposed to create a more specific plan to fit your needs.
As to the first option, insuring your car through Absa Car Insurance, known as Absa idirect, there are three insurance options similar to those offered by other insurance companies in South-Africa: comprehensive car insurance, third party, fire and theft car insurance, and third party.
Comprehensive car insurance: This covers your vehicle for accidental damage, fire, theft, hijacking and damage to third party property. It includes personal liability insurance of R2.5 million.
Third party, fire and theft: This would be your choice if you are looking for coverage for your vehicle for damage due to fire, theft, hijacking and accidental damage you cause to a third party. Accidental damage to your own vehicle is not covered.
Third party alone: This option might make the most sense if your vehicle is older and doesn’t have much value. Third party will cover any damage you cause to a third party’s property. Once again accidental damage to your own vehicle is not covered.
What are the benefits of Absa Car Insurance (Absa idirect)?
The following optional benefits are available if you opt for the Absa Car Insurance through Absa idirect:
- Car hire – this provides a replacement vehicle while your car is in the shop for repairs;
- Sound equipment – this will provide coverage for the replacement of a non-factory fitted sound equipment should you need to;
- Extended personal liability cover – this allows you to increase the standard R2.5 million liability coverage to R5 or R10 million;
- Accessories cover – this provides cover for your accessories, including tow bars, alloy wheels, body kits, etc.
How user-friendly is the Absa Car Insurance website?
When entering Absa’s main webpage, our first reaction was that it was a bit ‘busy’ – as in too much information. We had to slowly look at all of the words/menu options to figure out where to find the information we were interested in. In doing so, it was not clear which are links to other pages and which are titles of the menu. Although the colors of the website are red and white, some red words were links, while other links were in white with red background. So all and all it was a bit confusing and took some getting used to. Once you figure out their ‘system’, and get to where you want to, their information regarding the many services they offer, including the idirect car insurance, is organized and clear – so one should be able to find the information that he needs.
Submitting a Claim to Absa idirect:
This clarity of information also applies to how one would submit a claim to Absa idirect through the Absa Car Insurance webpage. To do so, all you need to do is contact their claims number at 0860 100 876.
What are the customer reviews of the Absa Car Insurance service?
Over the past 12 months, Absa received 6680 reports of feedback through hellopeter.com. Of those reports, only 11% were compliments, while 89% were complaints. That’s almost 8 times more complaints than compliments which in any standard is high! In looking at the nature of the complaints, they received a high percentage of complaints relating to “billing/accounts.” This indicates their billing and accounting department definitely needs improving (a bit surprising seeing how they are a bank isn’t it?) While Absa typically provided a response to feedback reports, the last few days of reports have seen no response from them. This could imply lack of response or that they are taking the time to look into the feedback.
Absa is a large company that provides a full range of services to a number of audiences. Based on the number of articles that have recently been published online regarding Absa, they clearly are a presence in the banking and finance world. Utilizing such a large company for providing car insurance has its benefits, but also its disadvantages. On the up side, they are more likely to know their business and perhaps have a wider range of products and a stronger financial backing. But on the down side, they may have less time and may pay less attention to detail and to you the customer seeing how they have so many others and seeing how this isn’t their main service (unlike some other insurance companies that only offer insurance). Another downside is the fact they are so big, like any other big company, makes it harder for them to adapt and launch “gorilla” marketing campaigns and changes. Ultimately when thinking about Absa’s Car Insurance services, it is hard to ignore the significantly higher number of complaints than compliments (even if some of these might not have been 100% accurate)! Either way, and as we like to always end our reviews, do yourself a favor and take the time to research by talking with others and getting at least a few quotes.
If you want up to 9 free insurance quotes, click here. If you want just one quote, click here and fill in the form and an agent will get back to you – either way, you will Save Hundreds of Rands on your insurance. .
Main subject: Absa Car Insurance – Absa idirect
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