A car accident can be devastating in a number of ways: the cost of replacing a vehicle damaged beyond repair, huge medical bills, the death of loved ones, and the psychological trauma as a result. To minimise the impact you need to plan appropriately and educate yourself.
Two financial solutions are applicable – vehicle insurance and the Road Accident Fund (RAF) – and it is useful to understand what protection each of these offers.
In South Africa, many cars on the road are, in fact, uninsured. According to the Automobile Association, “at any time, there are over a million uninsured drivers on the roads with legal vehicles and about 800 000 unregistered, illegal vehicles (on South African roads).
That means about 70% of people on the road don’t have…