Get peace of mind with cheaper car insurance

Jul 30, 2021 | General Category, General Information

With increasing financial pressure in South Africa right now, finding ways to save money has become such a priority for most people.

One of the best ways in finding the cheapest insurance cover for your vehicle, home and business.

1. Comparing quotes

With a broker at your disposal, you can compare insurer’s quotes, options & excesses easily and make sure you aren’t paying more than you need to.

2. Higher Excess = Lower premium

Excess is the amount of money you will need to pay from your own pocket when you make a claim. Many insurers will allow you to raise your excess in order to reduce your premiums.

3. Insure for the correct value

Retail value, the trade-in value, and the market value, which is an average of the retail and trade-in values. All of these values can be adjusted based on your car’s condition and mileage. Just bear in mind that, should your car be written-off or stolen and not recovered, if you’ve insured it for a lower value, your pay-out will be lower.

4. Reduce risk factors

If you’re at a higher risk for theft or accidents, your premiums will be higher. You can’t change factors like your age or how long you’ve had your driver’s licence for, but here are a few things you can try to do to lower your risk:

– Park in a locked garage.
– Move to a low-crime area.
– Drive a car with extra safety and anti-theft measures.
– Drive carefully and conscientiously to build an excellent driver safety history.
– Be honest with your insurer.
– Take an advanced driving course.
– Move closer to work. Less time in the car means less risk of an accident.

5. Combine home and building policies

It’s a lot easier to manage all your plans with one insurer rather than managing multiple plans with different providers.

6. Compare insurance options yearly

This may seem like a waste of time, but comparing your insurance with other options out there at least once a year can save you a lot of money. Remember your credit score, claims history & vehicle value changes every year, this can most likely help in getting you a lower premium.