Do you understand what you are reading in your car insurance policy? If you do not fully comprehend the contents of the policy – who is at fault?
It is true that the average car insurance policyholder does not have much financial skills and expertise – and he will only understand the most basic of financial concepts. Much of the terms and conditions in the policy will be foreign to him – and if not provided in his home language – might be especially difficult to understand.
This reminds me of the well known former chairman of Anglo American, Clem Sunter who revealed that he received a rather interesting comment when delivering a speech in the Free State Platteland. In this