Q: Tell us about the services Finsef offers as an insurance broker?
A: Finsef is an independent insurance broker that offers a wide range of insurance services like all a major insurance companies. In the short-term (up to 12 months), we offer insurance for cars, property, personal effects, business risks and long-term insurances respectively, as well as funeral and group life schemes.
Q: You have FinCar, which covers grey imports. When did you start offering insurance cover for imports?
A: In June 2021, seeing that many imported cars weren’t insured, we crafted a simple, affordable and inclusive scheme for first-time insurers. This scheme, however, is open to all excluding already insured vehicles.
Q: Which cars fall under the FinCar?
A: All cars, imported or local, valued below P500,000
Q: How much should I insure my car for?
A: Your car should be insured at its market value. We have assessors available to provide valuations.
Q: Do I have the option to pay a monthly premium if I cannot afford once for entire year?
A: Yes, we offer payment options to suit our clients. You can opt to pay monthly, quarterly or annually.
Q: What does this insurance cover include?
A: FinCar is a comprehensive motor insurance and covers the following: Accidental damages to your vehicle, third-party liability, natural disasters, fire, theft/hijacking, windscreen damages, as well as towing charges from the accident scene to the nearest garage subject to terms, exceptions and conditions.
Q: What is a policyholder and can someone else pay for insurance for a vehicle under my name if I am unable to?
A: A policy holder is the principal/ owner in whose name the policy is taken or issued. Yes, someone else can pay the premium on behalf of the policyholder.
Q: Is there a waiting period after I become insured?
A: Most insurance policies become active upon payment of a premium. However, there may be a waiting period for certain life covers.
Q: What is the process when I need to make a claim for my vehicle?
A: Do not accept liability following an accident, notify your insurer of the accident, have a police report, complete an insurance claim form, and have two repair quotations.
Q: How long after putting in a claim will I get assistance with my vehicle?
A: Immediately, in most cases. Depending on the severity and on documentation provided, repairs can be authorised within 72 hours.
Q: What other aspects affect my insurance premium?
A: The sum insured (the value of what is being insured), demographic factors, claims experience, amounts of deductibles or excess contribution.
Q: Will my annual premium change each year for my vehicle?
A: Annual premiums are subject to change, depending on such factors as claims experience/claims history, market trends, and economic facts like VAT and inflation.
Q: What is excess and will I be required to pay excess after putting in a claim?
A: Excess is a contribution made by a client towards every claim lodged and is generally set as a percentage of the claim amount. It is currently 5 percent of claim minimum of P3500 for FinCar
Q: How do I apply for Fincar cover?
A: We are in Unit 5, Plot 75783, Setlhoa Office Park, Gaborone. Our contact details are as follows: Office +267 3164650 and Whatsapp: +267 74106564