I am curruntly with SA Warranties. Great Service.
I pay R340 per month for 24 months, you could pay it all in one go or go the monthly repayment route.
I have the Prestige Package (R250) along with the Step Up (R90) add on.
They cover almost all the components (mechanical and electrical) on the car, excluding wear and tear items (like brake pads and discs, but there are certain limitations on wear and tear items like the clutch).
They have different bands that a specific vehicle may fall into, i.e. New models, vehicles under 7 years old with less than 160 000km, all other vehicles.
Each band has different maximum values to which they will cover a specific component. This is fair, based on age of the vehicle.
The Step up add on adds a fair amount extra to certain coverage values. e.g. R5k extra on the engine, no matter which band your car falls into, or 6k extra on the gearbox. (dont quote my figures as they might not be accurate).
Theyve been fairly quick with the claims (usually within 2 / 3 days to approve / disapprove / add limitation). Generally good service.
Ive noticed recently that theyve asked that you take your car to the manufacturer for services. They ask for this, but if you argue like I did, that the workshop working on my car only uses the manufacturer approved methods for repair (not a chancer), then they will ask for a letter from the workshop stating this, and all will be cool.
This was done because these chancer workshops reset the service indicator, showing that a service was actually done, however in some cases nothing was done to the car.
Do the Maths R340 x 24 = R8160. I think that this will be money well spent.
My advice. Take it, dont take it.