Are recovery warranties worth it?

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StuckInTheMudd
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Wed Nov 29, 2017 11:43 am

The recovery warranties that tracking companies such as Tracker, CarTrack and Netstar; are they worth it?

I have CarTrack's and there's a log of fine print. Do they actually pay out what they claim they do?

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dalkill
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Thu Nov 30, 2017 7:18 am

I think i was with Cartrack before... then i asked about payouts...
Since i also had insurance on the vehicle... so does Cartrack and insurance pay me out...
Nope apparently the CarTrack payout goes to the insurance company...

So you pay the heavy excess, and they still get the money from the tracking company??? WTH??
2007 d4d 3.0 D/C 4x4 (Mar 2016 - current) (Buraaq V)
2003 Isuzu KB300 tdi LX D/C 4x4 (May 2015 - Feb 2016) aka Buraaq IV
2000 hilux DC 2.7 4x4 (Jul 2011 - Sep 2012) aka Buraaq III
1999 RXI 20v (Nov 2009 - Jul 2011) aka Quicksilver
1990 hilux DC 2.2 4x4 (Jun 2008 - Jul 2011) aka Buraaq II
1997 corolla 160i GLE (Feb 2007 - Sep 2009) aka Green Goblin
1990 GLI twincam (still my fav rolla) (Oct 2005 - Mar 2007) aka Wit Blitz
Golf GTI 2.0 (temp insanity for 2months) (Jun 2005 - Aug 2005) aka A mistake
1993 hilux SC 2.2 4x4 (April 2003 - Sept 2005) aka Buraaq

TOYOTA IS MY LEWE

StuckInTheMudd
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Thu Nov 30, 2017 8:08 am


dalkill wrote: the CarTrack payout goes to the insurance company...
Yes. This.

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Haboob
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Tue Dec 05, 2017 8:20 am

Put same monthly cash in a separate bank account. The longer you keep this up the bigger the amount will grow. Eventually you will no longer need your original insurance, then you can also include that amount into your separate bank account. You then eventually include the "plat kar" insurance money and the house insurance money, then you see it grow. It quickly builds up into a size-able nest egg. When or if you need it, it WILL pay out...
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StuckInTheMudd
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Tue Dec 05, 2017 8:50 am

Haboob wrote:Put same monthly cash in a separate bank account. The longer you keep this up the bigger the amount will grow. Eventually you will no longer need your original insurance, then you can also include that amount into your separate bank account. You then eventually include the "plat kar" insurance money and the house insurance money, then you see it grow. It quickly builds up into a size-able nest egg. When or if you need it, it WILL pay out...
That's an interesting option.

One thing I'm cautious of though is the 3rd party cover. If I'm responsible for a pile up I wouldn't have saved enough to cover all those costs.

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StuckInTheMudd
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Tue Dec 05, 2017 8:50 am


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Mud Dog
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Real Name: Andy

Wed Dec 06, 2017 6:59 am

You could just take out a cheap "Ballance of 3rd Party" insurance that covers 3rd party damages and injuries. However, Edge's suggestion has a name - it's called 'self insurance' and it's a really risky business, even for a gambling man. Let's assume that you're a very careful and conservative driver - your risk level will be better than the average of all other drivers, but it's exactly these that you have to be wary of. What happens one of them rams into you causing damage and medical expenses, and that person has no insurance (or is self insured but cannot afford the compensation costs)? Sadly, the majority in SA don't have any form of insurance.

So the risk you take is enormous and IMO not worth it. :winkx:
When your road comes to an end ...... you need a HILUX!.

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Life is like a jar of Jalapeño peppers ... what you do today, might burn your ass tomorrow.
Don't take life too seriously ..... no-one gets out alive.
It's not about waiting for storms to pass. It's about learning to dance in the rain.
And be yourself ..... everyone else is taken!

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Haboob
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Wed Dec 06, 2017 3:06 pm

The medical expenses is called 3rd Party Insurance...
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HABOOB means "Dust Storm"

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Mud Dog
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Vehicle: '90 SFA Hilux DC 4X4, Full OME, 110mm lift. Brospeed branch, 50mm ss freeflow exhaust. 30 x 9.5 Discoverer S/T's on Viper mags. L/R tank. (AWOL) '98 LTD 2.4 SFA, dual battery system. Dobinson suspension, LR tanks, 31" BF mud's.
Real Name: Andy

Wed Dec 06, 2017 6:03 pm

Which used to be compulsory and no vehicle licence or licence renewal was granted without it. Used to be two discs on the windshield - one was licence and the other MVA (Motor Vehicle Assurance or in simpler terms, 3rd party insurance). That was done away with and replaced by a fuel levy that went into the RAF (Road Accident Fund). Of course the RAF has been bled dry in the last 15 to 20 yrs, so you battle to get paid out, but legally they are still responsible.

But you're right, 3rd party was there to cover personal injury medical and disability. Now defunct. :winkx:
When your road comes to an end ...... you need a HILUX!.

Image
Image

Life is like a jar of Jalapeño peppers ... what you do today, might burn your ass tomorrow.
Don't take life too seriously ..... no-one gets out alive.
It's not about waiting for storms to pass. It's about learning to dance in the rain.
And be yourself ..... everyone else is taken!

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dalkill
LR4WD, Lockers, Crawler Gears
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Posts: 1428
Joined: Wed Feb 13, 2008 8:34 am
Town: Cape TOwn
Vehicle: 2007 3.0 d4d DC 4x4
Real Name: Shaakir

Thu Dec 07, 2017 7:48 am

But the main question still remains... why does the payout from the tracking company go to the insurance.
I pay these two companies seperately.
Is that even legal?
2007 d4d 3.0 D/C 4x4 (Mar 2016 - current) (Buraaq V)
2003 Isuzu KB300 tdi LX D/C 4x4 (May 2015 - Feb 2016) aka Buraaq IV
2000 hilux DC 2.7 4x4 (Jul 2011 - Sep 2012) aka Buraaq III
1999 RXI 20v (Nov 2009 - Jul 2011) aka Quicksilver
1990 hilux DC 2.2 4x4 (Jun 2008 - Jul 2011) aka Buraaq II
1997 corolla 160i GLE (Feb 2007 - Sep 2009) aka Green Goblin
1990 GLI twincam (still my fav rolla) (Oct 2005 - Mar 2007) aka Wit Blitz
Golf GTI 2.0 (temp insanity for 2months) (Jun 2005 - Aug 2005) aka A mistake
1993 hilux SC 2.2 4x4 (April 2003 - Sept 2005) aka Buraaq

TOYOTA IS MY LEWE

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