SA's largest vehicle finance provider. Their insurance is bundled in at the dealership — and you have the legal right not to take it. Here's what the numbers look like if you do.
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Finance-bundled insurance is almost always more expensive than a standalone comparison quote
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Cancellation can be complicated if bundled with a vehicle finance agreement
WesBank finances more vehicles in South Africa than any other lender — millions of SA drivers have WesBank paperwork in their glovebox. At almost every dealership, WesBank finance comes with an insurance offer attached. It's presented as part of the deal. Packaged into the monthly instalment. Approved alongside the finance in the same sitting.
It is not compulsory. Under the National Credit Act and the FAIS Act, WesBank cannot make your finance approval conditional on taking their insurance product. You have the legal right to insure your financed vehicle with any licensed SA insurer that provides comprehensive cover. WesBank must accept it.
Finance-bundled insurance is consistently priced above what a comparison-sourced standalone insurer would quote for the same vehicle. The typical premium gap is R200–R500/month. Over a five-year finance term — which is standard for most SA vehicle purchases — that adds up to R12,000–R30,000 in excess premiums paid by drivers who didn't know they could choose differently.
This gap often goes unnoticed because the insurance premium gets rolled into the monthly instalment figure at the dealership. The R5,500/month instalment feels like one number — but R500 of it may be avoidable insurance premium.
Six licensed SA insurers. Live competing quotes. Two minutes to complete. Most WesBank insurance customers who compare find savings of R200–R500/month within the first comparison.
Compare now — no obligation →One month's written notice to WesBank. No penalty, no exit fee — SA law prohibits these for insurance cancellation. Get a better quote, activate the new policy, send WesBank written notice of cancellation, and provide them with your new insurer's details and proof of cover. WesBank will update their records. The saving starts the following month.
This happens regularly at SA dealerships. Finance managers present the insurance as a condition of the deal, or imply that approval depends on taking the attached product. This is incorrect and in many cases unlawful. You cannot be refused finance because you chose a different insurer — provided you can show comprehensive cover from a licensed SA provider.