Road Safety and Motor Insurance
March 26, 2016
The more you know about road safety and protecting your car, the more prepared you’ll be to invest in the best motor insurance which specifically caters for South Africa’s treacherous roads.
Hijackings, vandalism and theft are rife in South Africa, and when you add in road accident statistics, you dare not be without motor vehicle insurance in a country where road safety is negligible. The cost of repairs has also increased enormously.
Good Insurance is Part of Road Safety
Motor insurance includes plans for cars, motorcycles, vans, caravans and scooters. Without motor insurance in South Africa, if you are responsible for an accident where someone is seriously injured, your entire life will be turned upside down. Massive payments and legalities can turn your life into a living hell.
There are different kinds of motor insurance that cater for various needs
- Third party and theft
- Third party only
Comprehensive covers just about all eventualities. Third party and theft covers your vehicle for damages brought about by theft, fire and hijackings as well as injury to other people. And Third party only a no frills cover for low valued, old cars. This kind of insurance allows you to actually choose the amount of cover you can afford.
Consumer education is an ongoing challenge with the insurance industry, and it is to be noted that most of the complaints to the Ombudsman for Short Term Insurance are from those consumers unfamiliar with insurance products and those unfamiliar with the financial services industry.
The Arrive Alive website provides advice to vehicle owners on car insurance and road safety.
There are Many Factors Involved when Working Out What Premiums You will Pay
An insurance company looks at certain factors to arrive at the amount they quote you –
- the make,model, age and condition of your car
- your gender, age and driving record
- some insurers will offer lower premiums if you have attended an advanced driving course because they know you have better driving skills
- the area you live in – some areas are crime hot-spots. Does your car park in the street or is it safely locked at up night?
- reduce your car insurance premiums by installing security equipment such as vehicle tracking, alarms or immobilisers
- what is your car used for? Using your car for business purposes will mean a higher premium
- if you insure your car for its retail value, you’ll also pay a higher premium. All vehicles that are financed are insured at retail value.
There are many insurance companies, so don’t just select the first one, do research and compare quotes from a few different insurance companies. Don’t just go for the cheapest one – check out whats all involved, what hidden costs there are and additional excesses.
Also you want to make sure that you won’t be paying more than you should be paying for car insurance, and this is why it is important to access the value of your car each year.
Know What You’re Paying For
Unless otherwise instructed, some insurance companies just carry on charging the same premiums for the original value of your car – even though it is older.
Make 100% sure that the insurance company you choose is a registered financial services provider and make sure that you get your questions answered by an experienced insurer or broker before you sign on any dotted line.
To get a FREE car insurance quote complete and send the form on this page
All info was correct at time of publishing