With vehicle insurance not being compulsory in South Africa, experts estimate that only 30% to 40% of vehicles on the road are covered, making all drivers on the road vulnerable to the costly after-effects of an accident. According to Chris Barry, MD of HCV Insurance, it’s time for the South African government to set up a state-run compulsory third-party insurance vehicle, run along the same lines as SASRIA insurance to protect citizens from the consequences of an accident with an uninsured vehicle, in particular to cover the costly aftermath of an accident not covered by the Road Accident Fund (RAF). (more…)
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