How Your Premium Works and Why It Matters
Your premium is the heartbeat of your motor insurance policy. It’s what keeps your cover active when you need it most. Knowing how your monthly premium is calculated, paid, and adjusted can help you avoid gaps in coverage (and the stress that comes with them).
Monthly Premiums — Your Commitment to Continuous Cover
Pineapple runs on a monthly premium system.
Your policy lasts for one month at a time, and you pay in advance for the next month’s cover.
Your Debit Date is the day we collect your premium from your bank account. Just make sure there’s enough in there so the payment goes through.
We use bank-approved debit order processes, including authenticated debit orders (you confirm details with your bank) and EFT Debit Order Services. This helps ensure collections happen smoothly and on time.
If a Payment is Missed
Re-attempt: If we can’t collect on your Debit Date, we’ll try again after 15 days.
No Cover: If that fails, you won’t have cover for that month’s Period of Insurance.
Cancellation: If we can’t collect for three months in a row, your policy is cancelled from the first missed Debit Date, meaning you will not have cover for those months.
Recollection Fee: A non-refundable R50 fee is charged for every failed collection (insufficient funds, cancelled authorisation, or incorrect bank details).
Important:
The 15-day grace period only applies from month two onwards.
If your first premium doesn’t go through, your policy is cancelled from the Cover Start Date.
If you intentionally stop payment, we will cancel immediately from that Debit Date.
Disputing Premiums & Refunds
If you dispute a premium with your bank and request a refund without our written consent, you’re still liable for that payment, and we may recollect it. Always speak to us first if there’s an issue.
Annual Premium Adjustments for Motor Vehicles
Your Compensation Limit (Retail or Specified Value) doesn’t change after a claim, but your premium can be adjusted annually.
We automatically review and adjust your motor premium on your Anniversary Date (12 months after your Cover Start Date).
This keeps it aligned with your car’s current value, considering its age, condition, and market price.
The goal? Keep your premium fair and your cover accurate.
Bottom line: Staying on top of your payments and knowing how adjustments work means uninterrupted coverage and no surprises when you need Pineapple’s protection the most.
*The information provided here is for informational purposes only. For the full terms and conditions, please consult your policy wording.