Okay, here’s the coup de grace…the number one reason why you should consider car and home insurance with Discovery Insure!
Without further ado (and the end of my overdramatising too! 🙄 ) here it is:
The VitalityDrive Excess Funder Account!
Let’s face it…paying excesses can be a pain in the ‘you know what’. Although Discovery Insure has done away with excesses on theft or hijacking, there is still an excess applicable for vehicle damage.
Discovery Insure decided to offer you the option of paying that 40% fuel saving we discussed in our previous article – The Second Best Reason For Insuring With Discovery – into an Excess Funder Account.
Here’s what’s unique about the VitalityDrive Excess Funder Account!
The VitalityDrive excess funder account will then be used to pay any excesses you might have going forward.
Of course, this Excess Funder Account will eventually match your excess Rand for Rand.
At that point you could decide to increase your excesses in exchange for your monthly car and home insurance contributions being lowered (Who likes paying for car insurance anyway?).
Imagine your insurance getting cheaper and cheaper every month while your Excess Funder Account keeps on growing with, let’s say for example, R400 per month (R400 per month assumes you spend R1, 000 a month on fuel, earn 1000 DQ points a month, and pay with your DiscoveryCard at BP)?
That’s R4800 a year invested on your behalf. What better incentive never to claim (by driving carefully and watching your money grow 😆 )?
But what happens when I’ve built up R20, 000 in my Excess Funder Account…Discovery will score all the way, won’t they?
Nope they won’t…
You can withdraw up to 50% of your Excess Funder Account balance after three years even if you have never claimed.
Lawrence you’re wrong – I’d prefer having the 40% in my back pocket today than in Discovery’s pocket for the next three years!
Whoa, hold your horses…give me a chance to finish.
Here’s why the VitalityDrive Excess Funder Account makes sense:
Discovery Insure is going to match you Rand for Rand!
Yes, you read that right – You invest 40% in your Excess Funder Account and Discovery Insure will invest a further 40%.
Now imagine spending R1, 000 a month on fuel at BP and getting R800 of that back?
Are you still going to give it some ‘gas’ when you accelerate away from the robots?…No, I don’t think so, especially when 750 points are at stake!
Are you going to make the effort to have your vehicle checked every year at Tiger Wheel & Tyre?…Yes
Are you going to bother with the online quiz every quarter if it means the difference between having 75 points for that month or none? Heck yes, of course you are!
I could wax lyrical about the concept, but I’m starting to sound like a second hand car salesman (My apologies to any second hand car salesmen reading this, but you know what I mean! 😆 ), so I think it’s time to end off now.
In the next article we discuss how SmartService takes the hassle out of claiming if you’re ever involved in a motor vehicle accident (SmartClaims).
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Until next time.
The InsuranceFundi Team