FNB Insurance Brokers is a branch of First National Bank (FNB). According to FNB’s website, they are the oldest bank in South Africa with roots back to 1838. Today, FNB is a division of FirstRand Bank Limited and provides personal, private, business, commercial and corporate banking services across South Africa.
This insurance branch was created to offer more direct short-term insurance specifically to FNB’s clients with hope that it could offer lower premiums based on their data about their customers. Several months ago, Johan Nagel was appointed the new CEO of FNB Insurance Brokers. RMB Structured Insurance Limited underwrites the insurance, while Auto & General take care of the issuing, brokering and administering.
How do I contact FNB Insurance Brokers and where are they located?
FNB’s physical location is on the 6th floor at 1 First Place, Bank City, Cnr Simmonds and Pritchard Streets, Johannesburg, Gauteng South Africa 2001. Their postal address is: P.O.Box 1153, Johannesburg, South-Africa, 2000.
What Services Do FNB Insurance Brokers Offer?
FNB Insurance Brokers offer a range of insurance policies which include:
- Car insurance
- Home insurance
- Personal goods insurance
- Device insurance
- Funeral cover
- Life and health insurance
- Legal protection insurance
- Comprehensive global travel insurance
- Business insurance
Let’s take a closer look at the details of FNB Insurance Brokers’ car insurance coverage: You can insure your cars, motorbikes, boats and watercrafts, and trailers and caravans.
FNB Insurance Brokers offer 3 coverage options with their car insurance*:
1. The comprehensive plan provides coverage for your car if the damage is a result of an accident, fire or theft. You also have coverage against claims by others if you were the cause of their damages.
2. The third party, fire and theft plan covers your car if the damage results from fire or theft, and damage to others’ property (if caused by you). This option does not include coverage for your car if you were the cause of an accident.
3. Third party only is the final option and only covers damages to others’ property if you are liable. It provides no coverage for your car under any circumstances.
* If you don’t understand the various insurance terms and definitions, don’t worry, just read our “Car Insurance Terms and Definitions” article.
What benefits am I eligible for through FNB Insurance Brokers?
- You can choose a fixed excess (the amount you pay in the event of a claim), allowing you to pay that amount in case of a claim, regardless of how high your claim is.
- An excess waiver which means that you will not need to pay an excess on your first claim after three claim-free years (available to customers who choose the lowest excess option).
- A retrenchment premium waiver is available should you become financially strapped and unable to pay your regular premium.
- You have access to free roadside and home emergency services.
What Optional Benefits Can I Add with FNB Insurance Brokers?
FNB allows you to add several optional benefits to your car insurance policy. These are as follows:
- Car Hire Benefit.
- Specified (Named) Driver Benefit.
- Keys and Locks Benefit.
- Credit Shortfall Benefit.
- Trauma Benefit.
- Emergency Hotel Expenses Benefit.
Unfortunately, the FNB Insurance website does not offer any explanation for what these benefits cover or include, making it difficult to know which benefits may be useful when thinking about adding to your policy.
How user-friendly is the FNB Insurance Brokers’ website?
FNB Insurance Brokers does not have its own website, but rather has links on the FNB homepage. Once in the insurance section of the FNB website, you can gain basic information about each of their insurance policies. Unfortunately, based on their website, it seems there is no way to file a claim online. Also, after reviewing the website for more than half an hour, we found it difficult, and somewhat annoying to navigate, and not much information was available. In an era when websites are popping up like mushrooms, one would expect a bank the size of FNB to spring a few thousand Rand and set up a dedicated and easy to use website, focused on the insurance service they provide.
How are the FNB Insurance Brokers Reviews?
In reviewing FNB Insurance Brokers ratings on hello peter, the company received six times more complaints than compliments in the past 12 months out of the total of 246 reports that were filed (33% compliments and 87% complaints). While many insurance companies receive more complaints than compliments, six times more seems a bit excessive. The highest percentage of complaints related to poor feedback/response and other customer service frustrations. Although a number of complaints received a response from a representative at FNB Insurance Brokers, some of them were left unanswered.
Summary
FNB Insurance Brokers is a branch of FNB, created with the realization that they could offer their clients more competitive pricing on insurance premiums based on their knowledge of their client’s needs. In addition, they also offer a variety of benefits and rewards. Because this insurance company is not open to the public, you must be an FNB consumer to take advantage of their offers – something which makes them less “convenient”. We found their website a bit difficult to navigate and it wasn’t as easy as it should be to find the basic information one would need. Although our many efforts and us being Internet savvy, we were unable to find the page through which insurance claims are made – something that seems very basic, though there is a phone number listed. As is true with many other insurance companies, we suggest taking the time to research multiple aspects of a company before making a final decision. Looking for car insurance? Why not get an online insurance quote and compare prices, making sure that you get the best offer? To do this, just fill in your details in our online form, or click on the car insurance banner here above.
FNB Insurance Brokers
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