What are Car Insurance Premiums?
July 25, 2016
South Africa is one country where you seriously need car insurance. With car insurance premiums, the company charges you a certain sum of money in exchange for certain services.
The amount you pay depends on several factors such as your age, salary and where you live.
When you don’t pay your car insurance premiums, cover ends, and the company will no longer honour your claims.
Car insurance premiums cover damages to the policyholder’s vehicle. With more comprehensive cover the other vehicles are also covered.
You need Protection – You need Car Insurance Premiums
In South Africa, you will always be sharing the road with unlicensed cars and, drivers.
The idea is to find car insurance that will give you the protection you need, without you having to pay significant premiums each month for it.
You need a good insurance company who don’t withhold the payment of claims and who handle everything honestly and equitably. There are certain factors to take into account before you invest in auto insurance. Personal liability coverage is essential when looking for an insurance package.
Choose car insurance premiums for the Worst case
Always think of the worst-case scenario when selecting insurance. Think of the other driver not being insured and you not being at fault; this is when you want to rely on your car insurance to pull you through.
In a country like South Africa where crime is rampant, getting stranded along the road could be equal to signing your death certificate. Make sure that the car insurance you choose offers services such as roadside assistance and that they will tow your vehicle away.
A new car isn’t likely to break down, so your towing coverage could be minimal. If you own an old car, you will certainly need more extensive towing coverage.
Car or no Car – Life Goes On
Another important aspect is rental coverage. If your vehicle is severely damaged, how are you going to get to work? Life has to go on, and this is when rental coverage becomes necessary, because if you don’t have a second vehicle, this vehicle will tide you over while repairing your car.
There are so many aspects that come into play when paying car insurance premiums. Each is a statistically based risk, and the higher the risk connected to a drive, the more they will pay.
Some factors that you can’t change and which will affect your car insurance premiums are –
- Age and gender – drivers under the age are more prone to accidents than older drivers, and statistically, women are safer drivers than men.
- Region – where you live makes a difference as well as the car you drive. Some areas have a higher crime rate than others where your car is more likely to be stolen.
- Make of car – some cars are more attractive to thieves than others. A 4X4 is more in demand than a 1962 VW Beetle.
- Your driving history – a history which reveals some traffic offences will put you at higher risk, and this will mean a higher premium
- Other factors – that can determine your car insurance premium include your mileage each day and what security devices you have installed on your car such as tracking devices, alarms, and immobilisers
Compare – then you’ll be Certain
Shop around and compare quotes from different insurers. They base their premiums on their claims experiences. Car insurance comparison sites allow you quickly to see many different insurance companies and their rates.
You can receive quotes from these insurance companies and purchase your insurance instantly online.
To get a FREE car insurance quote complete and send the form on this page
All info was correct at time of publishing