R500 Challenge Terms and Conditions

Terms and Conditions

The terms, conditions and limits as set out below apply. Homegrown Brokers understands how important your privacy is and will protect your personal information.

By providing your email or mobile phone details you are agreeing that we may contact you regarding this quote. Please note that some of our advisors work under supervision.

Our R500 Offer

How does the R500 quote comparison offer work?

Homegrown Brokers will pay you R500 in cash when:

• You complete an insurance quote with us on your car, building or contents and our quote, based on a like-for-like comparison between your current insurance product and the iWYZE product, is more expensive than the premium you are paying for your insurance with your current insurer.
• The review of your submitted documentation confirms that our premium is higher.
• You do not accept any of our cover quoted.
• You obtain a quote for all items on a policy schedule, and all items quoted must be supported by a policy schedule.

Qualifying Criteria

To qualify for the R500 offer:

• You must be an active policyholder with another short-term insurer other than Old Mutual Insure.
• The policyholder must have had uninterrupted insurance cover without any claims with the same insurer in the last 12 months.

How to Participate

1. Complete a personal insurance quote if your car, home or contents is currently insured by an insurer, other than Old Mutual Insure, that sells insurance to the public.
2. We will request you to share your current short-term insurance policy schedule with us when:
   • We quote a higher premium than what you are currently paying.
   • You are currently insured for the last 12 months, without a break in cover, by the same insurer.
   • You have had no claims during this period.
3. Submit your current policy schedule, not older than 3 months, in its original PDF format within 30 days of receiving the quote from us.
4. Email the document to: schedules@homegrown.network
5. Allow five to seven working days for the review of your supporting documentation and the outcome on our decision.

General

What does a like-for-like comparison mean?

It means the following are the same:

• Material underwriting information, including policyholder and/or regular driver’s personal information.
• Vehicle make and model.
• Incident or claims history for the last 5 years.
• Insured value type.
• Sum insured.
• Security features, including vehicle tracking details and home security features.
• Risk address.
• Use of vehicle.

We will further try to better the following elements of the cover you have with your current insurer, subject to the product and underwriting specifications of the iWYZE product:

• Claim excess amount or amounts.
• Cover selected, including additional and/or optional cover such as car hire, credit shortfall, specified accessories and SASRIA, but excluding cashback benefits.

Our comparison will include all payments made to brokers.

Who Does Not Qualify for These Pay-outs?

• Any existing iWYZE customer who already holds a short-term insurance policy underwritten by Old Mutual Insure group, including iWYZE and its affiliated brands.
• Any person who requests a car insurance quote for business use or business insurance.
• Any person who has already received a payment for a R500 challenge in the last 12 months.
• Any policyholder of a policy where the regular driver of the car being quoted has had a vehicle claim since his or her last renewal.
• Any person who has had a policy cancelled by iWYZE in the last 12 months.
• Any person who is deemed an unacceptable risk as determined by our underwriting criteria.
• Homegrown Brokers will not make more than one payment to any person who completes multiple individual quotes on the same or separate cars for which our premium is more expensive than the current insurance premium.
• Homegrown Brokers will try to better your premium based on a like-for-like comparison against our product, however, we reserve the right to decline payment if the product offering is materially different.

What Happens If My Premium Cannot Be Bettered?

We will compare your insurance premium as per your current policy schedule on a like-for-like basis, as defined under the General section of these Terms and Conditions, against the iWYZE product and its underwriting specifications to try and better your premium.

If the iWYZE quote is more expensive, we will request your banking details and make payment to your bank account within five to seven working days from the date of the final decision made.