MiWay Business Insurance

Updated on Jun 25, 2021

Introduction

MiWay is a licensed short-term insurer and financial services provider that offers customers a range of non-life insurance products including motor, household, homeowners, business insurance and liability cover.

MiWay doesn’t believe in a one-size-fits-all approach. They offer a variety of customisable business insurance options to cover business-specific risks. Their comprehensive coverage options and commitment to customer service empower you to focus on what matters most – running and growing your successful business.

Main Features

  • Motor traders cover – Insurance for motor trade companies such as a dealership, a car wash, a vehicle repair shop or a service centre. 
  • Business property cover – Covers your building, all office equipment, electronics and special equipment in the business.  
  • Business vehicle cover – Insurance cover for all your business vehicle needs, including cars, bakkies, trucks, goods in transit and more.  
  • Business interruption cover – For any interruptions that may affect the business negatively.  
  • MiBusiness assist – Business support service that aims to reduce unnecessary costs. 

Pricing

The cost of your business insurance cover will depend on the type of cover that you choose. Here are four factors that affect the price; type of business, business size, number of employees, location and claim history. 

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Pros

  • Competitive rates

  • Wide range of coverage

Cons

  • Limited availability

FAQs

You can file a claim online through your MiWay account, by calling their claims hotline, or by emailing their claims department. The specific contact details will be provided in your policy documents.

The documents you’ll need will depend on the specific type of claim. Generally, you’ll need items like police reports, repair estimates, receipts for damaged goods, and medical records (if applicable). MiWay will provide a full list of required documents when you initiate your claim.

The processing time for claims can vary depending on the complexity of the situation. Straightforward claims may be settled within a few days, while more complex claims involving investigations or legal issues may take longer. MiWay will keep you updated on the progress of your claim throughout the process.

Yes, in most cases you can contact MiWay to discuss modifying your coverage options during your policy period. There may be additional costs associated with adding coverage, and any removals might require a recalculation of your premium.

Some MiWay Business Insurance policies may offer optional add-on coverage for business interruption. This type of coverage can help you recoup lost income if your business is forced to close due to a covered event.