Where Do I Get Car Insurance in South Africa?
You’ve just bought your first car, and while you’re happy about the convenience it has brought you, you’re also worried. You’re concerned about the rising cases of carjacking and car theft in South Africa. So you ask yourself, where do I get car insurance in South Africa?
Also of concern to you is the money you’ll have to pay for repairs in case you’re in an accident. Or what happens if some calamity strikes which reduces your car to a pile of ashes.
At the back of your mind you know there is a way to ease your worries; car insurance, now only, where do I get car insurance?
Where Do I Get Car Insurance?
With car insurance, you know that you won’t have to pay for repairs from your pocket in the event of an accident.
You will also be able to replace your car if it is stolen.
But you also have the idea that insurance is expensive and not an immediate necessity. It is enough that you have to think about fuel, parking fees, and regular service.
To some extent, it is true that auto insurance in South Africa is on the pricey side. Part of the reason for this is that insurance firms have to deal with a barrage of claims every so often.
It’s a result of how dangerous South African roads have become due to reckless driving. It is a commonplace for people to disobey traffic rules, over speed or skip red lights and still escape punishment.
Motorists driving under the influence of drugs or alcohol often also get away with. Small wonder South Africa records close to 20,000 road accidents that lead to death every year.
The result is that insurance firms have inflated their premiums to nearly unaffordable heights. Two-thirds of South Africa’s population have been priced out of motor insurance.
Naturally one would ask if insurance firms should be there to pay out claims if the incident they arise from is as a result of driver negligence. In the ideal scenario, they would not.
It would reduce the number of claims drastically, and car insurance premiums would tumble in tandem. More South African motorists would then be able to afford to insure their vehicles.
There would even be a drop in road accidents as drivers would not want to risk catering for the resulting damage from their own pockets.
Who is to blame?
Blaming insurers for the rise in premium rates would be easy. They appear to be dishing out claims without properly investigating the cause of an incident.
However, these insurance firms would say they have been backed into a tight corner by their customers and consumer protection bodies.
To reduce complaints of unprocessed claims and the resulting backlash from the National Treasury, the Financial Services Board and consumer rights groups, insurers will try to expedite claims.
Insurance firms like Prime Meridian are however making bold moves to come up with car insurance products with more stringent claims conditions.
It may be inconvenient to motorists in the short term but result in cheaper insurance in the long run.
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