It's not impossible for even those in South Africa to find the right car insurance if you understand your cover options and the techniques needed to save on car insurance premiums.
You can choose from three basic types of car insurance cover: Third Party, Third Party Fire and Theft and Comprehensive. Third Party is the minimum cover and pays for damage to other people's property caused by an accident that is your fault. Third Party Fire and Theft adds to the minimum by including cover for damage caused by theft, attempted theft and fire. Comprehensive Cover includes all of this and pays to cover damage to your own vehicle in an accident that is your fault.
Comprehensive Cover is the most expensive, but it provides the most benefits, and is really the type of insurance most South Africans should have to completely cover their risks. Now that you know what you can buy, let's examine ways to get that cover at the best price. Here are ten ways you can reduce your insurance premiums. They may not all work for you, but everyone can find something that will work.
First, shop around and compare quotes. You can find substantial savings just by taking this step to educate yourself about your options. It's easy to do this research online or through a broker. You can also get a discount if you purchase your policy online. Check with individual companies for this option.
Each policy comes with a deductible, which is the amount you have to pay if you file a claim. People save money by selecting a higher deductible. Make sure if you ever file a claim you a sure to pay the deductible.
Safe drivers benefit in the form of lower premiums. Each claim-free year may qualify you for a discount with your current insurer or earn a better rate with another company.
Whenever you are looking at insurance companies always consider the different prices. Higher performance and expensive cars always are a higher cost due to their risk profile and expensive parts. When you are shopping for a car, include the insurance premium in your budget.
Living in high crime areas will increase your rates due to there being a greater possibility of your vehicle being stolen or hijacked. You should greatly consider moving to a better neighborhood, not only to save money on premiums, but for greater personal safety.
You could get a discount if you park your car in a locked garage or behind locked gates overnight. Keeping your vehicle off the street at night reduces the risk that it will be stolen or damaged, therefore reducing your premium.
You can add security devices such as gearlocks or global tracking devices that exceed the minimum requirements and receive a discount.Most insurance companies will have minimum security requirements for the vehicles it insures.
The number of people that are allowed to drive your car will effect your premiums. So when shopping for insurance, it is best to keep the people on the policy as low as possible. The reasoning for this is that the less people that drive the car will make it a lower risk for accidents or things happening.
Do not be timid about bargaining. Several insurance carriers have negotiable rates and will work closely with a potential customer in order to obtain new business.
You can choose from three basic types of car insurance cover: Third Party, Third Party Fire and Theft and Comprehensive. Third Party is the minimum cover and pays for damage to other people's property caused by an accident that is your fault. Third Party Fire and Theft adds to the minimum by including cover for damage caused by theft, attempted theft and fire. Comprehensive Cover includes all of this and pays to cover damage to your own vehicle in an accident that is your fault.
Comprehensive Cover is the most expensive, but it provides the most benefits, and is really the type of insurance most South Africans should have to completely cover their risks. Now that you know what you can buy, let's examine ways to get that cover at the best price. Here are ten ways you can reduce your insurance premiums. They may not all work for you, but everyone can find something that will work.
First, shop around and compare quotes. You can find substantial savings just by taking this step to educate yourself about your options. It's easy to do this research online or through a broker. You can also get a discount if you purchase your policy online. Check with individual companies for this option.
Each policy comes with a deductible, which is the amount you have to pay if you file a claim. People save money by selecting a higher deductible. Make sure if you ever file a claim you a sure to pay the deductible.
Safe drivers benefit in the form of lower premiums. Each claim-free year may qualify you for a discount with your current insurer or earn a better rate with another company.
Whenever you are looking at insurance companies always consider the different prices. Higher performance and expensive cars always are a higher cost due to their risk profile and expensive parts. When you are shopping for a car, include the insurance premium in your budget.
Living in high crime areas will increase your rates due to there being a greater possibility of your vehicle being stolen or hijacked. You should greatly consider moving to a better neighborhood, not only to save money on premiums, but for greater personal safety.
You could get a discount if you park your car in a locked garage or behind locked gates overnight. Keeping your vehicle off the street at night reduces the risk that it will be stolen or damaged, therefore reducing your premium.
You can add security devices such as gearlocks or global tracking devices that exceed the minimum requirements and receive a discount.Most insurance companies will have minimum security requirements for the vehicles it insures.
The number of people that are allowed to drive your car will effect your premiums. So when shopping for insurance, it is best to keep the people on the policy as low as possible. The reasoning for this is that the less people that drive the car will make it a lower risk for accidents or things happening.
Do not be timid about bargaining. Several insurance carriers have negotiable rates and will work closely with a potential customer in order to obtain new business.
About the Author:
Tom Martens is the syndication coordinator for Carinsurancesa.co.za. South Arica's leading car insurance portal.
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