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These costs have been extrapolated on assumptions relating to the
following:
- Vehicle value
- Excess
- Replacement vehicle costs
- Window for payout
- Loss in productivity
Impact on personal valuables such as:
- Golf clubs
- Cell phone
- Sound systems
- Jewelry
- Samples
Indirect costs:
- Assessors fees
- Compilation of claim forms
- Obtaining of license cancellation forms
- Phone calls
These assumptions have been arrived at after consultation with
the South African Police, with companies as well as insurance brokers
and are, for the purposes of this presentation purely estimates.
__________ Direct costs __________
Based on a vehicle value of R50 000 with the driver deemed to be
in possession of accessories as well as a cell phone, the cost may
average out at R27 000 and escalate to figures in excess of R100
000.
Factors such as the job profile and individual status being critical
factors.
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