Had Rajiv Singh of Durban not insured his Polo Vivo when he bought it new two years ago, he would be in a better financial position a year and three months after writing off the car in an accident. "I didn't spend R800 a month on an insurance policy to end up not getting a cent from that car," he said. "But that's exactly what happened ... Had I not been insured, I would at least have got some salvage money." Last April, Singh's broker switched his policy from another insurer to SaXum, saying it was in his best interests. Singh's accident happened just four months later, in August last year. Two months after that - while he was still frantically trying to find out why his claim wasn't being settled - the registrar for short-term insurance applied to the High Court in Johannesburg to have an insolvent SaXum liquidated. "I am left to pay R2 437 a month for that car until November 2021," he said. By then Singh would have paid more than R151000 to Nedbank - after the car was written off...
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