Shop Around for Affordable Car Insurance

You can’t think of owning a car without sparing a thought or two towards insurance. With the rise in cases of car theft in South Africa, getting cover for your vehicle is almost mandatory. That’s if you value your investment. So start to shop around for cover right away.

Besides, if you are paying for your car through a car loan, the law requires you to have insurance. Seeing as motor insurance is an inextricable part of owning a vehicle in South Africa, you would think that car owners take the time to perform exhaustive due diligence before settling on a policy. Sadly, this is not often the case.

Shop Around – Choosing the right provider

We tend to go for any insurance policy with light premiums or the first plan recommended by their financier. We mostly don’t bother ourselves with the fine print of the policies. We’re mostly just happy to sign up for insurance we can afford and be on our way. But it is wise to do a bit more digging around. Firstly, you should find out the range of car insurance providers. Do not just go with the ones recommended to you or which feature in the media.

By doing this, you increase the chances of you getting value for your money. As you sift through these providers, keep an eye out for reviews from previous customers. And as you read these reviews look out for how the customers rate the vendor’s customer service and their claims process. How quickly and easily is the payout released when you make a claim?

 

Shop Around – Choosing the right product

Price is not the only factor you should consider when selecting a car insurance product. You shouldn’t jump at the policy with the lowest premiums. There is a direct correlation between the premium you pay and the amount of risk the policy covers as well as the benefits it offers. Chances are also that when you’re paying low premiums, you will be required to pay a higher than usual excess when making a claim. You will also want a policy that caters for economic inflation, meaning that you will have to bump up your contributions slightly every year. But you had rather do this and be sure that you have full cover in the event the risk in question happens.

 

Shop Around – Use available tools

There are many tools available to help you make the right decision. There are sites and forums online where you can read reviews of car insurance products given directly by policyholders. This will help you discover details in the fine print that may not arise when the policy is being sold to you. You will then have a list of questions to ask the provider. The answers will help you determine if their product is worthwhile or not. There are also several comparison sites which help you easily find the right policy for you based on details you provide them with. They do the legwork of sifting through the oodles of products for you and hand you quotes all for free.

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All info was correct at time of publishing October 17, 2018