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SMARTPARK™– THE DISTANCE-BASED INSURANCE BENEFIT FROM SANTAM

“If you’re driving less than 15 000km a year, you can save up to 20% on your insurance premium with SmartPark™.
Because if your car is spending more time at home, you should be spending less on your premium.”

Dear Intermediary

Santam launched an additional benefit to its Personal Lines Product value proposition, called distance-based rating.

With this feature, clients who work from home and travel less than they would normally can benefit from a discount on their motor-premium.
This will be achieved by offering distance-based rating categories for vehicles, which will be based on the kilometers predicted to be travelled
per renewal period, in the following kilometer bands:

0-5000 km
5001-10000 km
10001 to 15000 km

A percentage discount will be granted within a kilometer band. In order to qualify for a distance-based rating, clients must supply their odometer reading which will be captured, along with the kilometer band that the client has indicated.

Excess Structure
An additional excess of R2500-00 will apply at claims stage if this optional cover is taken and the distance limited selected by the insured was exceeded at the time of the claim.

For more information, please follow the link: https://www.santam.co.za/media/2686024/broker-smartpark-one-pager-eng.pdf