Who is Nedbank Insurance?
Nedbank Insurance, which includes Nedbank Car Insurance, is part of the larger Nedbank Group. Originating in the 1830s, the Nedbank Group has grown and expanded to become one of the largest banking groups in South Africa. Nedbank has partnering companies with Old Mutual and Mutual and Federal. Old Mutual, the majority shareholder, owns 52% of the Nedbank Group. The Nedbank Group offers banking services, insurance services, asset management and wealth management. According to their website, they service over six million clients.
Michael William Thomas Brown has been the CEO of Nedbank Group since March, 2010, and Graham Wayne Dempster was appointed COO in August, 2009.
Where is Nedbank Insurance located?
The head office for Nedbank Insurance is the Nedbank Group Limited Johannesburg, located at Nedbank Sandton, 135 Rivonia Road, Sandown, 2196.
What services does Nedbank Insurance offer?
Nedbank offers a range of insurance services, from business/corporate insurance to personal insurance, including travel insurance, individual insurance, car insurance and home insurance. Let’s look more closely at their car insurance coverage.
Nedbank Car Insurance
The Nedbank website does not offer a detailed explanation of the company’s car insurance options, unfortunately. However, they do offer an overview of the options and features that are available to you. These include:
- A choice of policy options including comprehensive, fire and theft, third party only and third party coverage;
- The ability to cover the costs of keys and locks, breakdowns and emergency repairs;
- Access to telephone assistance 24 hours a day for home, road and medical services;
- Car hire options should you be unable to use your personal vehicle due to an accident;
- A Prestige option that offers double coverage;
- An extended warranty option that will cover your vehicle for an additional two years or 200,000 km once your original vehicle warranty has expired;
- A preowned vehicle warranty option that covers a second hand car for up to twelve years or up to 250,000 km;
- A tire and rim warranty option that covers both tires and rims against accidental or deliberate damage for up to R10,000;
- A credit shortfall and top up option that ensures that a bank loan to finance a vehicle is paid off even if the vehicle is insured for a value less than that owing to the bank.
How user-friendly is the Nedbank and Nedbank Car Insurance website?
Initially, the Nedbank website is a little confusing. The home page is crowded with information, and finding the direction we needed to go in was tough. Once we found the insurance pages though, navigation became far easier. There’s a floating menu which enables you to easily skip between insurance pages, which is always nice. However, whilst there was an overview of Nedbank vehicle insurance options, there was not a clear and detailed explanation of policies. For casual shoppers the Nedbank website gives a neat introduction to the company’s options. But for those who prefer getting more details before they buy Nedbank should offer a more comprehensive look at the options available, since most of us like to know what we’re getting before we make commitments.
Filing a claim with Nedbank Car Insurance
One of the benefits listed on their website is 24-hour claim service availability. In order to file a claim or inquire about a claim, they provide the following number: 0800 600 055. We didn’t try it, so let us know in the comments here below how fast they answered. If you happen to give them a call.
What are the customer reviews of Nedbank Car Insurance?
Over the past 12 months, Nedbank Insurance received 4092 reports of feedback through hellopeter – this is a fair amount of reports compared to other companies. Of those reports, 13% were compliments, while 87% were complaints – so that’s almost 9 times more complaints than compliments! Now that’s a lot of complaints! Looking at the breakdown of the complaints, the largest category (by a long shot) was billing/accounts. Clearly they would improve customer experience and satisfaction if they improved in this area. To see how Nedbank car insurance customer service compares to other companies, read our survey on “which is the best insurance company in SA?
So, what’s the bottom line?
Nedbank Car Insurance is just one of the many services offered by the larger Nedbank Group and this might be the reason why they have 9 times more complaints than compliments which is very high, no matter how you look at it. Meaning, perhaps if they chose to specialize in car insurance, as opposed to it just being one of their many services, their customer satisfaction rate would be higher. In addition, the company website could give shoppers a better detailed explanation of car insurance options . In the information age, not giving information, is in itself a statement. Based on the above, we personally would be somewhat hesitant to use their insurance services.
Nevertheless, if you are reading this, it means you probably need car insurance, right? Well then we suggest the following:
1. Read 2-3 reviews about other insurance companies that you are considering and then;
2. get a few Free online car insurance quotes.
Main subject: Nedbank Car Insurance
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