If a car is involved in a hijacking and was then recovered, but was found with damages due to it being involved in an accident – does the client have the option of requesting that they be paid out for the vehicle, because generally one does not want to drive the same vehicle after a traumatic hijacking or does Miway have the final say as to what happens to the vehicle?
Your insurer will determine what is the most economically viable way to place you back in the same position you were in, before you suffered the loss you are claiming for. If it is more economical to repair the vehicle you car insurance company will repair the car rather than replace it.
The basic principle of insurance is that an insurer should place you back in the same position you were in, before you suffered the loss you are claiming for. The idea behind a car insurance cover is to financially prepare you for a possible future loss.
Car Insurance Additional Information
MiWay offers flexible car insurance to cover losses primarily due to an accident or theft.
In addition to accident or theft, comprehensive car insurance in South Africa covers losses due to fire and explosion, natural disasters like hail and floods and damage to the vehicle’s glass.
Additional options such as car hire and cover for non-standard sound systems and car accessories can also be added to your car insurance policy.
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