Company Announcement - When it comes to unforeseen damages to vehicles such as those caused by accidents or bad weather conditions, vehicle insurance usually covers the repair costs. Other damages such as mechanical failure or electrical failures are however not covered by insurance. For these damages, one would need a motor warranty plan. “Vehicle owners are familiar with vehicle warranties, but which warranty is best suited to your needs and pocket? Now you can compare them on our site.” says Derek Wilson, Head of the free online comparison site, hippo.co.za

When considering extended and pre-owned warranty options, motorists should look out for the following:
Extended Warranty:

If you want to extend your current manufacturer’s warranty cover this warranty is for you. You get the benefit of an unlimited repair/replacement value on the components covered. The warranty term payment is based on a two-year warranty value, paid monthly over a 24-month period. The prerequisites for this waranty is that your vehicle must have a full service history in place, as per the manufacturer's specification and it must currently be under a manufacturer’s warranty cover or maintenance plan.

Cover commences on the date/mileage that your manufacturer's warranty or maintenance plan expires and provides warranty cover for a further 24 months or until a total of a certain km's is recorded on the odometer from the date of first registration.The vehicle must be serviced and maintained as per manufacturer's specifications, by the manufacturers franchised outlets. Premium is payable in 24 months installments, the option of a pre-owned warranty is then available.

Pre-owned Warranty:
If your vehicle manufacturer’s warranty has already expired you can take out this warranty to cover your vehicle. Your policy will cover you for the repair and/or replacement of components, specifically listed under the respective policy’s specifications, arising from a mechanical and/or electrical failure during the cover period of your policy. This is a true monthly warranty, not fixed to a set period, but influenced by the maximum term/mileage as is applicable. The prerequisite for the pre-owned warranty is that your vehicle must have an established service history through regular service intervals.The vehicle must be serviced and maintained as per manufacturer's specifications, by the manufacturers franchised outlets.

Cover will commence 30 days after the first successful premium collection, and continues on a monthly basis until your policy is cancelled by you or the vehicle reaches the age of 15 years from date of first registration or the vehicles odometer reaches a certain amount of km’s. The premiums are paid monthly in advance, until the vehicle is 15 years old or reaches a certain amount of km’s, whichever comes first. You are obliged to advise the Administrator once the odometer reading on your vehicle reaches 300 000 km’s.

Established in 2007, hippo.co.za is South Africa’s leading comparison website that helps consumers save money by comparing a range of SA providers across financial products such as car insurance, home insurance, life insurance, medical and more. Hippo is free to use and saves consumers the time and hassle of shopping around for the best deal since the Hippo.co.za website instantly retrieves real-time quotes from the different providers using the latest Internet technology. At least 8 out of 10 people could save an average of R427* per month on their car insurance.