If you own a car, you probably already know a little about car insurance. You may know the words deductible or premium. Zimbabwean Laws requires that you have at least some kind of car insurance, to protect you in the event of an accident.
Zimbabwe’s leading mobile network operator ,Econet Wireless, reckons it’s spotted a gap in the market by offering mobile car insurance sold through the EcoCash platform.Econet is set to launch a novel and potentially disruptive new type of car insurance designed for Zimbabwean drivers. The new Insurance package will be called iDriveSure, according to a source close to the developments.
Fake motor vehicle insurance policies have flooded the country with millions of dollars being lost to fraudsters. Since dollarization in 2009, about $59 million could have been lost due to non-remittance of the levies to Traffic Safety Council of Zimbabwe (TSCZ).
Econet’s new product, which opens its doors before May, wants to end the status quo that sees drivers pay for expensive insurance and pay extra for car tracking, Roadside assistance and Airtime.
Before purchasing car insurance, one must consider a variety of factors including what kind of car one has, driving record and the amount of money one is willing to pay. Understanding the simple basics of auto insurance will make you confident that the car insurance policy you choose will take care of your needs in the event of an accident.
Here’s how iDriveSure will work:
iDriveSure will let you buy insurance via a monthly subscription of between $1 to $50, depending on the car. Once you have subscribed iDriveSure will throw in FREE Car Tracking, Roadside assistance and Airtime.
iDriveSure will be the second insurance product from Econet wireless. In 2014 Econet launched Ecosure a funeral assurance scheme. According to the latest numbers EcoSure now has more than 600 000 subscribers, making it the biggest insurer in Zimbabwe.
