How Do I Save on Car Insurance Premiums?
February 3, 2019
Here we will give you some tips to save on car insurance premiums:
- You have to do comparison shopping as prices differ from insurer to insurer
- Get at least 3 quotes – by doing it online you’re spared having to phone around
- Get recommendations from friends and family – you want affordability but it must be quality too
- Low mileage discounts for driving less than the usual mileage
- Take an advanced driving course Keeping Insurance Costs Down
Car insurance, like any other insurance, is expensive.
If you’re a young person looking to buy a car for the first time, did you know that the more expensive the car you buy, the more insurance you’ll pay. Some young people get handed a brand new car by their parents, but if you’re striking out on your own, there are things you can do to keep your car insurance costs down.
If the bank helps you to buy a brand new car, you have to buy comprehensive insurance. Once people have paid off the loan, many opt to get rid of this ‘financial burden’ and go without car insurance. They reckon there are far better ways to use the money.
The truth is, many South Africans can’t afford adequate vehicle insurance anymore. Many drive far less as technology allows them to work from home. Certainly, those who work from home, don’t feel the need to have insurance. Of course, there is a sense in this, but we all know that nobody can predict the future and what will happen.
Start saving by simply driving more responsibly. It’s true that higher insurance prices are issued to younger drivers, particularly those under the age of 25. Make a point of ensuring you build up an excellent driving record over the years and you’ll pay less. Drivers with poor driving records pay more for insurance than people who are accident-free.
Your Old Jalopy is Irreplaceable – Save on Car Insurance Premiums
If you are uninsured and involved in a car accident that was your fault, the financial consequences could be too nightmarish to contemplate. If you’re in a one-car-a-family scenario, not having a car if yours was written off, or not having the means to buy a new car, can put life on hold.
Even if your car was what you’d describe as a jalopy, it still got you from A to B. The cost to replace such a car might be beyond your financial means, and what then? With so many unlicensed cars and drivers on South Africa’s roads, you need some kind of insurance.
Even the Most Basic Insurance is Better than Nothing
You don’t have to go for the most expensive car insurance, which happens to be Comprehensive Car Insurance.
The balance of Third Party, Fire and Theft Insurance is a cheaper option but what about Balance of Third Party – the cheapest option? Yes, it’s got the least benefits but at least it will cover you if you damage somebody else’s car. Imagine crashing into somebody else’s brand new Lexus LX and having to pay damages that could be easily in the region of R100 000 or more? How on earth will you ever pay it back?
Be Informed – Save on Car Insurance Premiums
South African motorists need affordable, customised car insurance. With a bit of research, you’ll discover ways to cut back on car insurance. Thinking consumers know how beneficial it is for them to be informed, to keep up-to-date with changing industry trends and in so doing, save on car insurance premiums.
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All info was correct at time of publishing