<\/p>\n
Most insurers only pay out when something goes wrong. OUTsurance is one of the few that also pays out when nothing else does \u2013 a cash reward, called the OUTbonus, for policyholders who go without making a claim.<\/p>\n
The OUTbonus pays back 10% of your premiums after three consecutive claim-free years, 10% after another two claim-free years, with further payouts every year you continue not to claim.<\/p>\n
For most South Africans, that\u2019s a fundamentally different way of thinking about insurance.<\/p>\n
Car insurance is usually treated as money that leaves your account every month, with nothing to show for it unless something goes wrong. The OUTbonus reverses that logic: it pays you back in cash for staying claim-free.<\/p>\n
It\u2019s not a discount \u2013 it\u2019s cash back<\/p>\n
The OUTbonus isn\u2019t a points system or a marketing add-on. It\u2019s a real cash payment, based on your claims history and paid premiums. It applies to OUTsurance\u2019s short-term products \u2013 car, home, pet and business insurance.<\/p>\n
Here\u2019s how it works:<\/p>\n
Go three years without claiming, and OUTsurance pays you 10% of the premiums you paid over those three years.
\nStay claim-free for another two years, and you get a second payout.
\nAfter that, every extra claim-free year earns you another payout.<\/p>\n
OUTsurance has paid out more than R8.4 billion in OUTbonuses so far.<\/p>\n
The OUTbonus is not an empty promise \u2013 it\u2019s a real, ongoing part of how the company operates.<\/p>\n
How much can you get back from the OUTbonus?<\/p>\n
Consider a policyholder paying R1 500 a month for car insurance \u2013 that\u2019s R18 000 a year.<\/p>\n
If they don\u2019t claim, here\u2019s what they could get back:<\/p>\n
When
\nWhat it\u2019s based on
\nThey (or you) get<\/p>\n
After three years
\n10% of 3 years\u2019 premiums
\nR5 400<\/p>\n
After five years
\n10% of the next 2 years\u2019 premiums
\nR3 600<\/p>\n
Every year after that
\n10% of that year\u2019s premium
\nR1 800 a year<\/p>\n
These figures \u00a0are for illustrative purposes only and do not take annual premium increases into account.<\/p>\n
Tallied over a decade, that could be R18 000 back \u2013 a full year\u2019s premium, in cash.<\/p>\n
Your exact premium and cash back will depend on things like changes to your policy, car, where you live and your driving history, as well as the annual rerate, but the 10% rule and the payout timeline stay the same no matter what you pay.<\/p>\n
A higher premium simply means a bigger rand amount coming back at each milestone; a lower one means a smaller amount, but the same proportional return.<\/p>\n
That distinction is worth noting: this isn\u2019t money from the stock market or an interest rate. It\u2019s money you can get back simply for managing your risk and not claiming. It doesn\u2019t require you to invest anything extra, or take on more risk to earn it.<\/p>\n
The impact of claims<\/p>\n
The OUTbonus is a benefit that rewards you for being claim-free. But things happen. Every time a claim is submitted against your policy, it can reset or delay your claim-free streak, which means it can delay your next OUTbonus payout too.<\/p>\n
That doesn\u2019t mean you should avoid claiming altogether.<\/p>\n
Insurance is there to cover your losses \u2013 especially a write-off, a serious accident, or theft that could have a significant financial impact on you and your loved ones.<\/p>\n
Does the OUTbonus work the same way for business insurance?<\/p>\n
Not quite. If you\u2019re insuring a business with OUTsurance, the rules differ.<\/p>\n
Instead of needing zero claims before you get a cash OUTbonus reward, your business cover is judged on its claims ratio \u2013 the relationship between what you\u2019ve claimed and what you\u2019ve paid in premiums over a rolling three-year period. Keep that ratio healthy, and you still qualify for an OUTbonus, even if you\u2019ve claimed once or twice.<\/p>\n
This reflects commercial risk more realistically than a strict zero-claims rule would \u2013 a business with more assets and more moving parts to insure is far more likely to need to claim at some point than an individual driver.<\/p>\n
How do you track your OUTbonus?<\/p>\n
You don\u2019t need to calculate this manually. The OUTsurance App lets you track your claim-free years and see your OUTbonus building up in real time.<\/p>\n
The bottom line<\/p>\n
Your premium doesn\u2019t change. Your cover doesn\u2019t change. What changes is the mindset: instead of insurance being something you only benefit from when things go wrong, it becomes something that rewards you for things going right.<\/p>\n
If you\u2019re insured with OUTsurance \u2013 or thinking about switching to it \u2013 it\u2019s worth running your own numbers.<\/p>\n
OUTsurance is a licensed insurer and FSP. The OUTbonus is a standard product feature, only paid after three claim-free years and is premium dependent. Internal data since 1998.<\/p>\n
Brought to you by OUTsurance.\u00a0<\/p>\n
Moneyweb does not endorse any product or service being advertised in sponsored articles on our platform.<\/p>\n
#OUTsurance #OUTbonus #work<\/p>\n","protected":false},"excerpt":{"rendered":"
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