MiWay vs Naked Car Insurance: An Unbiased South African Comparison

Choosing the right car insurance in South Africa can be a complex decision. Among the popular choices, MiWay and Naked Insurance stand out, each appealing to different segments of the market. MiWay offers a traditional yet technologically integrated experience, while Naked represents a newer, purely digital model.

MiWay vs Naked Car Insurance: At a Glance

Feature | MiWay Car Insurance | Naked Car Insurance
Model | Established, multi-channel (online, phone, brokers) | Fully digital (app-first), AI-driven
Core Offering | Comprehensive, Third Party, Fire & Theft, Third Party Only | Comprehensive (customisable add-ons), CoverPause
Pricing | Risk-based, personalised, MiWayPlus rewards | Risk-based, AI-driven, fixed fee, CoverPause savings
Claims | Online, app, or phone. Traditional assessment. | App-based, instant reporting, AI-powered assessment.
Customer Interaction | Call centre, online portal, app, brokers | Primarily app and chat
Rewards/Loyalty | MiWayPlus cash back for claim-free periods | CoverPause premium reduction for non-use
Target Market | Broad market, traditional service with digital | Tech-savvy, cost-conscious digital self-service

Who is MiWay Car Insurance For?

Drivers seeking established, well-rounded cover with a strong reputation.

Individuals who appreciate loyalty rewards and cash back.

Customers who prefer a choice of communication channels.

Drivers in urban and peri-urban areas.

Who is Naked Car Insurance For?

Tech-savvy individuals comfortable with smartphone app management.

Drivers looking for transparent fixed-fee pricing.

Those with fluctuating car usage who can benefit from CoverPause.

Younger generations and early adopters.

Customers who prefer quick, automated claim processes.

Deep Dive into Cover and Plan Structures

MiWay Car Insurance Cover

Comprehensive Cover: Accidental damage, theft, fire, third-party liability, hail, hijacking.

Third Party, Fire, and Theft: Damage to others' property plus fire/theft of your vehicle.

Third Party Only: Basic cover for damage you cause to others.

Optional add-ons: car hire, excess waiver, scratch and dent, roadside assistance.

Naked Car Insurance Cover

Comprehensive Base: Accidental damage, theft, fire, third-party liability.

Customisable Add-ons: Car hire, roadside assistance, scratch & dent — selected individually.

CoverPause: Pause accident cover for up to 30 days/year when your car is safely parked, with pro-rata premium reduction.

Pricing Approach and Premiums

MiWay's Pricing Structure

Premiums are individually calculated based on vehicle, profile, address, mileage, and security. MiWayPlus offers cash back and rewards for claim-free periods.

Naked's Pricing Structure

Heavily reliant on AI for transparent pricing. A fixed fee covers operational costs; the remaining premium pools for claims, removing conflicts of interest. CoverPause provides direct savings for periods of non-use.

Claims & Service Reputation

Both insurers are FSCA-regulated. MiWay offers traditional claims through online, app, or phone with structured assessment. Naked's app-based, AI-powered approach enables instant reporting and faster resolution for minor claims.

Switching Considerations

Notice period as specified in your policy.

No-Claim Bonus transfer — confirm with both insurers.

No gap in cover between old and new policies.

Compare like-for-like cover levels and excesses.

Verdict: Which is Right for You?

Choose MiWay if you want established cover with the option of human interaction and loyalty rewards.

Choose Naked if you prefer a fully digital experience with transparent pricing and CoverPause savings.

Get a personalised side-by-side comparison on InsuranceQuotes.co.za.