From life insurance to motor insurance, many people try to avoid them for as long as possible to save money, often only acquiring the cover they need later in life.You may think that you’re saving money each month by not having to pay premiums, but a single incident can undo a decade of saving in that manner – and any more than that could put you back years in financial development.
Car and life insurance work completely the opposite way around when it comes to age related premiums. The older you are (up till around the age of 60) the lighter your motor insurance premiums. One fact that is relatively well known in South Africa is that the insurance premiums for under 25’s are pretty steep but there is light at the end of the tunnel. After the age of 25 you’ve gotten some experience on the road and most companies decrease your premiums substantially.
If you’re recently passed the 25 year mark then you can already get an excellent deal by simply taking a few other things into account, such as:
∙ the safety stats of your vehicle
∙ the colour of your vehicle
∙ Additional security features (immobilizer, alarms and gear locks)
∙ Ensure your car sleeps in a garage at night
∙ Your incident track record
If you do your homework or chat to a consultant and let them do it for you, you can get a reasonable rate which will protect you from major loss for decades.
Before you make a concrete decision, weigh up your options by looking at different quotes. Contact us at AB Brokers for any assistance you may need or if your require the cheapest insurance quotes