How to maximise cash backs and also earn from insurance

It’s hard to get excited about car insurance but it’s the one grudge purchase you’ll be very glad you made if you are involved in an accident, or if your car is damaged or stolen. It’s a financial safety net that can save you considerable financial loss – and headache – in such unfortunate circumstances.

Car insurance cashbacks also bring some good to the grudge – and it’s a great way to save money while encouraging you to drive better and less. These are rewards from your insurer that you get for driving safely and responsibly, and they can reduce your monthly premiums significantly. Cash backs are calculated using various factors, including driving behaviour, kilometres driven and your claims history. Drivers who smartly manage these factors can expect to get even more cash back.

Maximising your cash back is easy for MiWay Blink customers. Here’s how you put more money back in your pocket:

Drive less

The less you drive, the less risk you pose to the insurer and the more cash back you qualify for. Consider using public transport, carpooling, cycling, or walking whenever possible. Plan your trips ahead and avoid unnecessary journeys. Not only will this earn you more cashback, but it will also save you petrol and lessen the wear and tear on your car while also benefiting the environment.

Head of MiWay Blink, Keletso Mpisane says, “By design, our product encourages users to drive less so we incentivise accordingly. The cash back benefit that comes with our digitally-based products actually takes money out of our pockets and puts it in yours, if you are an insured customer who drives less than 2 500 km a month. The cash back is a refund of part of the premium paid that month. For example, if someone doesn’t drive at all in a month, a refund of up to 50% of that month’s premium is paid back to them.”

Refer friends and family

MiWay Blink recently launched an initiative to put back money in the pockets of the customer and give them earning opportunities for merely conversing with loved ones and friends about their products by rewarding customers with R500 for each referral made. Clients will receive the cashback after people they refer make their first full premium payment.

Mpisane says, “Consumers are generally grappling with the rocketing cost of living. Being that insurance is a necessary purchase, we’ve put this initiative in place to motivate them to not drop it altogether but find earning opportunities through it in this tough economy.”

With the rising cost of living, any money you can save helps and these tips help you put more money in your pocket while driving less and more responsibly, which is safer.