In our guide today, we will discuss the Absa warranty insurance in South Africa.
A warranty is a promise by the insured party that the statements affecting the validity of the insurance contract are accurate.
Absa may cancel out a policy and refuse to cover claims if the warranty you made turns out to be untrue.
We will show you the types of warranty insurance covers.
Absa warranty Insurance
An affirmative warranty takes a statement regarding the time a contract was made.
A promissory warranty is a statement about the future facts or recurrent factors throughout the policy term.
For example, suppose you warrant that property covered by a fire insurance policy will never be used to mix explosives. In that case, Absa will cancel out the policy If they discover that you have started mixing explosives in the property.
These are the types of Absa warranty insurance in South Africa.
What Is The Extended Warranty Insurance
We will look at the extended warranty insurance that protects your vehicle against mechanical or electrical breakdown.
This insurance covers new or used cars and lasts one to two years.
Only light-duty vehicles not exceeding 3500kgs are covered.
Now that you understand the extended warranty, we will look at the pre-owned warranty insurance.
What Is A Pre-owned Warranty
This covers you when your vehicle manufacturer warranty has expired.
You are covered against the mechanical or electrical breakdown of your vehicle.
The cover is provided immediately after the inception of the insurance.
The covers s for light-duty vehicles not exceeding 3500kg and also cover used cars.
The cover lasts for one to two years.
This is what is covered by the pre-owned Absa warranty insurance in South Africa.
Requirements For Absa Warranty Insurance
We will now show you the requirements for warranty insurance in South Africa.
The vehicle should be a subject of a finance agreement.
The age (in years) and mileage (in kilometers) covered by the vehicle at the time of the policy initiations will determine the category your car will be covered.
The car should be a 4×4 or light commercial vehicle with a gross vehicle mass of not more than 3500kgs.
The vehicle should have a full-service history according to the manufacturer’s specifications.
The vehicle should be in good mechanical condition and have a roadworthy certificate from the national transport department.
Vehicles not covered include taxis, rental cars, exotic vehicles, rebuilds, modified vehicles, and vehicles used in motoring or sports competition.
These are the requirements for an Absa extended warranty insurance in South Africa.