The new offering, Yabotlhe Motor Lite Cover, is designed specifically for older and imported cars with the aim of providing accessible, cost-effective protection for a significant amount of the country’s motorists, many of whom rely on these vehicles for daily transport and livelihood. Minet’s Head of Mass Markets and Distribution, Itumeleng Ntalabgwe, said at the launch last week that the cover is readily available to the market.
He added that the Motor Lite Cover offers key protection to policyholders at a significantly reduced cost, giving them peace of mind. Officials added that under the new product, clients can enjoy coverage starting at just P125 per month, which includes a contribution of up to 40% towards car repairs and protection up to P100,000 against total write-offs. Additionally, coverage of up to P1 million in third-party liability coverage can be extended, and quick cash reimbursements as opposed to drawn-out approval procedures for repairs. Minet CEO, Michaelson Chonyera, explained that the name “Yabotlhe”, meaning “for us all,” reflects the company’s intention to bring financial security within reach of everyday citizens. He emphasised the importance of insurance in protecting valuable assets and praised the partnership with HI for enabling such a timely solution. "Anything that has value has to be insured," Chonyera added.
