The global automotive industry is currently facing several challenges, including supply chain disruptions and high inflation of new and used vehicle prices, which are impacting every vehicle owner. As a result, people are keeping their vehicles for longer.

This is the view of Lizo Mnguni, spokesperson for Old Mutual Insure, who says that South African vehicle owners have had a bumpy ride.

“We understand the challenges that our policyholders are facing, and we want to help them navigate the current economic climate,” says Mnguni.

Old Mutual Insure has launched its new Value4U Motor value added products (VAPS), in partnership with M-Sure Financial Services, a subsidiary of Motus South Africa, to help policyholders.

“The new Value4U Motor VAPS is designed to provide our customers with the additional cover they need when the vehicle’s original manufacturer warranty expired and to keep their vehicles in top condition, without breaking the bank,” says Mnguni.

The Value4U Motor VAPS offers a wide range of cover options, plans, and limits for customers to choose from, depending on their car's current life stage, individual circumstances, financial needs, and budget. An added bonus for policyholders is that there is no excess payable on claims on these products.

In addition, there is a strong broker proposition.

"Our user-friendly Value4U portal makes it easy for brokers to get quick quotes with indicative premiums, request full quotes, convert quotes to policies, submit adjustments, have instant access to documentation and reports, renew policies, and log claims, all on one platform.”

The Value4U Motor VAPS includes Extended Warranty, Scratch & Dent, and Tyre & Rim cover for the personal lines market.

The Extended Warranty solution covers a range of components and can help to offset unexpected costs of fixing or replacing parts in the event of sudden and unforeseen mechanical breakdown or electrical failure.

The Scratch & Dent covers minor day-to-day accidental damages to the exterior and interior of the vehicle that are not likely to be claimed for on the comprehensive policy, helping to keep the car in showroom condition.

The Tyre & Rim cover takes care of those road hazard damages not usually covered by comprehensive car insurance and ensures the client will not need to break the bank with unforeseen expenses.

"We believe that the new Value4U Motor VAPS will provide our policyholders with greater peace of mind," says Mnguni.

Below he shares his top tips for brokers to share with their clients, to help keep their cars in showroom condition.

• Keep your car clean: Regular washing and waxing can help to keep your car looking new. Clean the interior of your car frequently, and vacuum the carpets and upholstery to remove dirt and debris.

• Protect the paint: Apply a protective coat of wax or sealant to the paint to help protect it from damage. Avoid parking your car in direct sunlight for extended periods, as this can fade the paint and cause it to oxidize.

• Keep up with regular maintenance: Regular oil changes, tire inspections and rotations, and other routine maintenance tasks can help to keep your car running smoothly and prevent costly repairs down the line.

• Address issues promptly: If you notice any issues with your car, such as strange noises or warning lights, address them promptly. Ignoring problems can lead to further damage and higher repair costs.

• Use high-quality products: Use high-quality products when cleaning and maintaining your car. This includes car wash soap, wax, and other detailing products.

• Avoid harsh chemicals: Avoid using harsh chemicals, such as bleach or ammonia, on your car. These can damage the paint and other surfaces.

• Store your car properly: When not in use, store your car in a garage or carport to protect it from the elements. If you must park outside, use a car cover to protect the paint from UV rays, rain, and debris.