Make sure you Review your Car Insurance regularly
July 22, 2016
People don’t like car insurance to the point they never review car insurance from one year to the next.
Their motor vehicle premiums continue to increase, and they think of how better they could be spending the money.
One could say that the premiums continue to rise because of the costs of repairs from the motor vehicle industry. While car insurance is essential in South Africa, it isn’t mandatory.
Car insurance is necessary while you are paying back the loan. If you’ve got car insurance, however, you will need to review it regularly.
Having an excellent Driving record means Lower premiums
Driving on South African roads is hair-raising as you’re driving with loads of unlicensed drivers or drivers who only bought their license.
They haven’t got a clue how to drive and are a danger to everyone.
Your driving skills are sharp by having to navigate such treacherous roads, which means your driving habits have changed – you’re sharper than ever and may have an exceptional driving record.
To review car insurance regularly is the Key
Review your car insurance regularly. Price is a motivational factor. Some insurance companies are offering a discount of as much as 25% if you buy a policy from them online.
Another reason to review your car insurance regularly is that you may just be able to find more comprehensive car insurance cover that has a lower premium than the one you’re paying now.
There are always new insurance providers on the market, with so many insurance companies competing for your business, they’re ready to tailor insurance to hold onto clients.
Check the current value of your car because your claim is paid out according to the book value. You can inform your insurance company of changes so they can draw up a new quote according to your book value.
Gender plays a part too. Statistically, women are safer drivers than men. Car insurance companies calculate their risk when determining premiums. They make use of historical data to make an educated estimate of the person being in an accident.
As a transgender, you may have been male once, but are now female. Statistics show that women are less likely to be involved in a car accident. Review your car insurance because as a woman; you may be able to pay lower premiums.
You’re ageing all the time, if you’re under the age of 25, you’re considered more likely to get into an accident. As you age and have a good driving record, you’re less of a risk. Review your car insurance and check if you’re not due for a lower premium.
Where you live influences your premium rates. More densely populated neighborhoods and areas where crime is rife will mean your car is at a higher risk of accidents and theft. If you move into a different, safer area, it will be time to let your insurers know as this can influence your premium.
Life is Constantly Changing – Review car insurance
Life isn’t static; it is forever changing. Who knows what the next few days will bring or the next year, we need to be regularly reviewing out set-up and adjusting our insurance to suit.
This way we make sure we’re not paying for things that may have applied once, but which are no longer applicable.
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All info was correct at time of publishing