LuckyStriker
Bachelor Dog
Some of you may have heard the rumours that our government is planning to introduce mandatory insurance similar to the UK and USA (to name but two).
One of the reasons behind it is that it will ensure everyone is paid in an accident.
At the moment if a uninsured minibus taxi ploughs into you, you'd better hope you have insurance and even if you do, the excess payment is your own responsibility.
You're welcome to submit a claim against the Road Accident Fund but everyone knows it could take years before you see a penny.
With mandatory insurance the government hopes to ensure that the financial aches caused by traffic incidents are a thing of the past.
My concern is:
Why are we paying for a RAF if we are going to be forced to carry insurance?
What if I can't afford insurance? Am I then banned from driving a vehicle to earn an already meagre income?
What if I choose to create a personal fund in case of emergency rather than pay whatever a insurance company demands?
In some respects I like the idea but to be honest I was rather looking forward to cancelling my bike insurance once the vehicle finance was settled. There seems little point in paying R1000 a month for a 5year old motorcycle with almost no resale value (which is what the situation will be once my bike is finally paid off).
One of the reasons behind it is that it will ensure everyone is paid in an accident.
At the moment if a uninsured minibus taxi ploughs into you, you'd better hope you have insurance and even if you do, the excess payment is your own responsibility.
You're welcome to submit a claim against the Road Accident Fund but everyone knows it could take years before you see a penny.
With mandatory insurance the government hopes to ensure that the financial aches caused by traffic incidents are a thing of the past.
My concern is:
Why are we paying for a RAF if we are going to be forced to carry insurance?
What if I can't afford insurance? Am I then banned from driving a vehicle to earn an already meagre income?
What if I choose to create a personal fund in case of emergency rather than pay whatever a insurance company demands?
In some respects I like the idea but to be honest I was rather looking forward to cancelling my bike insurance once the vehicle finance was settled. There seems little point in paying R1000 a month for a 5year old motorcycle with almost no resale value (which is what the situation will be once my bike is finally paid off).
