Quick Facts About Naked Insurance

• Get insurance quotes in 90 seconds through the app
• Car insurance from R70/month, comprehensive from R700+/month
• No call centres – everything done through the Naked app
• Backed by Hollard Insurance (FSP 48822)
• Recently raised R700 million in funding (January 2025)
• Surplus premiums donated to charities you choose

What is Naked Insurance?

Naked Insurance is a fully digital insurance company in South Africa. They started in 2018 with a mission to make insurance simple and honest.

Everything happens through their smartphone app. You get quotes in 90 seconds. You buy insurance instantly. You make claims through the app. No phone calls needed.

Who runs Naked Insurance?

The company was founded by three experienced actuaries: Alex Thomson, Sumarié Greybe, and Ernest North. Your policies are underwritten by Hollard Insurance Company, a well-established South African insurer.

Is Naked Insurance legal and safe?

Yes. Naked is a registered Financial Services Provider (FSP 48822). They are regulated by the Financial Sector Conduct Authority (FSCA). Hollard Insurance, which backs Naked, is a licensed Non-Life insurer (FSP 25511).

How is Naked different from traditional insurers?

• No call centres – use the app or email for everything
• AI bots (Rose and Jade) help with quotes and claims
• Instant quotes and approvals
• Lower premiums because of technology savings
• Surplus premiums donated to charity (not taken as profit)

✅ Insurance Products Offered by Naked

Naked offers four types of personal insurance in South Africa:

1. Car Insurance

Comprehensive Cover

• Accident damage to your car
• Theft and hijacking
• Fire damage
• Natural disasters (hail, storms, floods)
• Third-party liability (damage you cause to others)
• 24/7 roadside assistance included
• Optional extras: car hire, credit shortfall cover

Third-Party Only Cover

• Covers damage you cause to other people’s cars or property
• Up to R5 million liability cover
• Does NOT cover damage to your own car
• Cheapest option – from R70/month

Special Feature: CoverPause®

You can pause your accident cover when not using your car. You pay only 50% of your premium. You still get theft and weather damage cover. This is perfect for people working from home or occasional drivers.

2. Home Contents Insurance

Covers your belongings inside your home:

• Furniture, electronics, clothes
• Coverage in South Africa and worldwide
• International cover up to 6 months
• Up to R5 million liability cover
• Lock and key replacement
• Emergency security guard after an incident

3. Building Insurance

Covers the physical structure of your home:

• Walls, roof, and fixtures
• Outbuildings and boundary walls
• Swimming pool, jungle gym, gate motors
• Theft, fire, and natural disaster damage
• Geyser and pipe coverage
• Choose your own excess amount

4. Single Item Insurance

Cover for individual valuable items:

• Smartphones
• Laptops and tablets
• Cameras
• Other gadgets you can’t live without

💰 How Much Does Naked Insurance Cost?

Naked Insurance is known for affordable premiums. Here are typical costs as of December 2025:

Car Insurance Costs

Cover Type	Monthly Cost Range	What’s Included
Third-Party Only	R70 – R150	Basic liability only
Comprehensive (Small Car)	R700 – R1,000	Full cover, small vehicle
Comprehensive (Average Car)	R800 – R1,400	Most common range
Comprehensive (Expensive Car)	R1,500 – R2,500+	High-value vehicles

What Affects Your Car Insurance Cost?

• Your car’s value: Expensive cars cost more to insure
• Your age: Drivers under 25 pay higher premiums
• Your claims history: No previous claims = lower cost
• Where you live: High-crime areas cost more
• Your excess amount: Higher excess = lower monthly premium
• Optional extras: Car hire and credit shortfall increase cost

No Hidden Fees

Naked Insurance has no joining fees, no administration fees, and no cancellation fees. The quote you get is the final price you pay. Everything is transparent.

How to Get Your Exact Price:

Download the Naked app or visit www.naked.insure. Answer a few questions. Rose (the AI bot) gives you a final quote in 90 seconds. This is your real price – no estimates.

How to Sign Up for Naked Insurance

Getting Naked Insurance is fast and simple. Everything happens on your phone or computer. No paperwork. No phone calls.

Step-by-Step Sign-Up Process

What Information You’ll Need

For Car Insurance:

• Your ID number
• Car registration number
• Car make, model, and year
• Current car value
• Driver’s licence number
• Your address and contact details

For Home Insurance:

• Your ID number
• Property address
• Building value (for building insurance)
• Contents value (for contents insurance)
• Security features (alarm, burglar bars)

How Long Does Sign-Up Take?

Most people complete sign-up in 5-10 minutes. The quote itself takes 90 seconds. The selfie verification adds a few more minutes.

✅ The Naked Difference: How Their Business Model Works

Naked Insurance operates differently from traditional insurers. This unique model is called “The Naked Difference.”

How Traditional Insurance Works

Traditional insurers make more profit when they pay fewer claims. This creates a conflict of interest. They benefit from delaying or rejecting your claims.

How Naked Insurance Works

Naked takes a flat 20% fee from your premium. This covers their operating costs and profit. The remaining 80% goes into a communal pot for paying claims.

What happens if claims are lower than expected?

At the end of the year, any leftover money is donated to charities. You choose which causes to support. Naked does NOT take surplus money as extra profit.

Why This Matters for You

• Naked has no incentive to reject valid claims
• They don’t benefit from delaying payments
• Claims are processed fairly and quickly
• You help support good causes at no extra cost

Referral Programme

Share your referral link with friends. If they sign up and stay for 3 months, you earn up to R1,000 per friend. Naked has paid out R2.4 million in referral fees so far.

How to Make a Claim with Naked Insurance

Naked Insurance is known for fast claims processing. Some claims are approved in minutes. All claims happen through the app.

Step-by-Step Claims Process

What You Need to Claim

For Car Accidents:

• Photos of damage
• Details of what happened
• Other driver’s details (if applicable)
• Police case number for serious accidents

For Theft:

• Police case number (mandatory)
• Photos of damaged locks or windows
• List of stolen items

For Natural Disasters (Hail, Storm):

• Photos of damage
• Date and time of incident

Claims Approval Times

Windscreen claims: Often approved within 35 minutes. Simple claims: 1-3 hours. Complex claims: 1-3 business days. This is much faster than traditional insurers.

Your Excess Payment

You pay your chosen excess for most claims. Glass claims often have no excess. The excess is deducted from your claim payout.

Requirements and Who Can Get Naked Insurance

Basic Requirements

• Must be a South African resident
• Must have a valid South African ID number
• Must be 18 years or older
• Need a smartphone or computer with internet
• Need a debit or credit card for payments
• Must provide accurate information

Car Insurance Requirements

• Car must be registered in South Africa
• Driver must have valid driver’s licence
• Car must be in good condition
• Must not have been written off (Code 3) previously (or only 70% payout applies)
• Must complete selfie video of car

Home Insurance Requirements

• Must own or legally occupy the property
• Property must be in South Africa
• Must provide accurate building or contents value
• Must complete photos/videos of property

What Naked Does NOT Cover

Car Insurance Exclusions:

• Driving under influence of alcohol or drugs
• Using car for business purposes (without disclosure)
• Illegal activities
• Wear and tear
• Mechanical or electrical breakdown
• Damage when driver has no valid licence

Home Insurance Exclusions:

• Gradual deterioration
• Poor maintenance
• Intentional damage
• War or invasion
• Nuclear incidents

Cooling-Off Period

You have 30 days to cancel your policy with full refund. This applies if you haven’t made any claims. Cancel instantly through the app.

🚨 Scam Warnings & Safety Tips

Insurance scams are increasing in South Africa. Protect yourself from criminals pretending to be from Naked Insurance or other insurers.

How to Identify Legitimate Naked Insurance

Common Insurance Scams in South Africa (2025)

1. Fake Insurance Companies

Scammers create fake websites that look like real insurers. They take your payment but never provide coverage. Always verify FSP registration with FSCA.

2. Phishing SMS and Email

You receive messages claiming to be from your insurer. They ask you to click links or provide personal information. Real insurers never request passwords via SMS.

3. Claims Fraud by Criminals

Criminals impersonate policyholders to get copies of policy documents. They then submit false claims to steal payouts. Never share your policy number publicly.

4. SIM Swap Fraud

Criminals swap your SIM card to access your accounts. They change your insurance details and redirect payouts. Protect your ID and phone number.

5. Deepfake Voice Scams

New in 2025: Scammers use AI to copy voices. They pretend to be family members or officials requesting urgent action. Always verify through official channels.

How to Protect Yourself

Threat	How to Protect Yourself
Fake websites	Check FSP number on www.fsca.co.za
Phishing SMS	Never click links in unexpected messages
Phone scams	Hang up and call official number back
SIM swap	Contact your network if phone stops working
Data theft	Never share passwords or OTPs

Where to Report Scams

• Insurance Crime Bureau: 0860 002 526 or SMS 32269
• SABRIC (Banking fraud): Visit www.sabric.co.za
• FSCA (Unlicensed providers): 0800 110 443
• SAPS (Police): 10111 or visit nearest station

Comparing Naked to Other South African Insurers

Naked Insurance competes with both traditional insurers and other digital platforms. Here’s how they compare in December 2025.

Insurer	Key Feature	Typical Cost
Naked	App-only, CoverPause®, charity donations	R70-R2,500/month
King Price	Premiums decrease monthly	R800-R2,000/month
OUTsurance	Fixed premiums, cashback after 3 years	R900-R2,200/month
MiWay Blink	Pay-per-km, cashback up to 50%	R600-R1,800/month
Discovery Insure	Vitality rewards, safe driving discounts	R1,000-R2,500/month
Santam	Traditional, established, wide network	R1,200-R2,800/month

When to Choose Naked Insurance

• You want the lowest possible premiums
• You’re comfortable using apps (no call centres)
• You drive less and want CoverPause® savings
• You value transparency and ethical business models
• You want fast digital claims processing

When to Consider Alternatives

• You prefer speaking to people rather than using apps
• You want specialist car insurance (classic cars, performance vehicles)
• You need business vehicle insurance (Naked is personal only)
• You want bundled rewards programs (like Discovery Vitality)
• You need more specialized coverage options

How to Complain and Your Consumer Rights

If you have a problem with Naked Insurance, follow these steps to get it resolved.

Step 1: Contact Naked Insurance Directly

First try:

• Message through the app
• Call: 0860 995 125
• Email: help@naked.insure
• Ask to speak to a manager if needed

Naked aims to acknowledge complaints within 1 working day. They try to resolve issues within 7 working days.

Step 2: Escalate to Internal Dispute Resolution

If not resolved, write to:

Email: complaints@naked.insure

Include all details and documents. Someone with authority will investigate.

Step 3: Contact Hollard’s Internal Adjudicator

If still unhappy, escalate to Hollard (the underwriter):

Email: oia@hollard.co.za

Step 4: External Ombudsman

If still not resolved, contact the relevant ombudsman within 6 months:

Your Consumer Rights

• Clear information about your policy
• Fair treatment and quick responses
• Valid claims paid promptly
• 30-day cooling-off period
• Complaints handled fairly
• Access to ombudsman if needed

Other Useful Contacts

Organization	Contact
Financial Sector Conduct Authority (FSCA)	0800 110 443 / www.fsca.co.za
National Consumer Commission	0860 003 600
Insurance Crime Bureau	0860 002 526

Naked Insurance: Pros and Cons

Customer Reviews Summary

As of December 2025, Naked Insurance has strong customer ratings:

• Hellopeter: 4.37/5 stars (over 3,000 reviews)
• Google Play: Positive ratings for app functionality
• Common praise: Fast claims, low prices, easy to use
• Common complaints: Occasional app glitches, preference for human contact

✅ Our Final Recommendations

Naked Insurance is Excellent For:

• Young professionals comfortable with technology
• Budget-conscious consumers seeking affordable cover
• Occasional drivers who can benefit from CoverPause®
• People who value transparency and ethical business
• Those who prefer quick, digital-first service
• Consumers wanting to support charitable causes

Consider Alternatives If:

• You need business vehicle insurance
• You prefer traditional call centre support
• You don’t have a smartphone or reliable internet
• You want rewards programs like Discovery Vitality
• You need specialized coverage for classic or modified vehicles

Key Safety Tips

1. Verify Naked’s FSP number (48822) on FSCA website
2. Only use official website www.naked.insure or app
3. Never share passwords or OTPs with anyone
4. Complete the selfie video accurately and honestly
5. Provide truthful information when applying
6. Read your policy document in the app
7. Report any suspicious communications immediately

Getting Started

Remember: Insurance protects your financial future. Choose cover that suits your needs and budget. Always compare multiple quotes. Never drive without insurance.

Naked Insurance offers some of South Africa’s most affordable and transparent insurance. Their digital-first approach, fast claims processing, and unique charitable model make them stand out. With R700 million raised in January 2025, they have strong financial backing.

Best for tech-savvy consumers who want low premiums and quick service. Not ideal if you need business insurance or prefer traditional call centres.

Starting cost: From R70/month for third-party only. Comprehensive cover typically R700-R1,400/month for average vehicles.

Our verdict: Excellent value for money. Legitimate and regulated (FSP 48822). Worth comparing with other insurers for your specific situation.