Cars that attract lower insurance premiums
December 7, 2017
Many motorists are totally unaware of the fact that the type of vehicle they drive plays a significant role when it comes to determining the cost of insurance. Lower insurance premiums are possible!
Apart from a risk profiling assessment such as the age and gender of the driver, as well as the area in which they live, insurance companies are more likely to offer competitive premium rates based on certain criteria. These include:
Vehicles fitted with safety features will get the nod of approval from an insurance company. These include electronic stability programmes (ESP), forward-collision warning (FCW) systems, and autonomous emergency braking (AEB).
Lower insurance premiums for less expensive and/or older models
Insurance on older models is generally substantially lower. Among the vehicles that attract the lower insurance premiums are the Volkswagen Golf range and the 2009 Polo; Toyota Yaris and Tazz; and the 2009 Corsa Lite. Comprehensive insurance on these vehicles costs only R200 to R400 a month.
Low theft risk models
Pay less for insurance by opting for a vehicle that has a low risk of being stolen. These include Peugeot 308, Subaru Outback, Volvo V40, Citroen C4 Picasso, Honda Civic, Alfa Romeo Giulietta, Nissan Infiniti Q50, Mitsubishi Outlander, Toyota Lexus IS, and Mazda BT50.
Don’t think for one minute that insurance is cheaper for smaller cars. Many insurance companies regard small cars as high-risk compared with larger vehicles because they will be more extensively damaged and cost more to repair. Also, some smaller cars also do not have good safety features.
Cars manufactured locally
A motorist seeking insurance for a vehicle manufactured locally will pay far lower premiums than a client with an imported car. Spares and replacement parts are easier to source and cost substantially less than imported models.
There are several factors to take into consideration when buying a vehicle but at the end of the day, money is always the main concern.
To avoid crippling vehicle insurance payments every month consider:
- Purchasing a car with good safety features such as the Citroen C1 VTi or the Renault Sandero
- Purchasing a car with a high safety rating such as the Honda Civic or Volvo XC90
- Downloading a good driver behaviour app that will earn bonus points and lower premium rates
- Opt for a cheaper or older model car to avoid expensive premium price tags attached to luxury vehicles
- Steer clear of vehicles that are popular targets for car thieves. These include the Toyota Hilux, Venture and Corolla, Nissan 1400, Fortuner, and HiAce
- Purchase a vehicle that is easy to source replacement parts such as Toyota, Tata, Nissan and Peugeot
- Research and compare quotes before selecting an insurance company
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All info was correct at time of publishing