Can You Go Without Car Insurance in South Africa?
February 28, 2018
Insurance, especially car insurance, is one of those real grudge purchases, isn’t it? Especially when you have had your car for a long time and have never had an accident. But can you really afford to be without car insurance in South Africa?
Even if you have never caused an accident, there is no guarantee that you will never be involved in one. And what happens, if like around 11.4 million other vehicles neither you not the other driver has vehicle cover?
Car repairs are not cheap. Even a minor fender-bender can set you back a few thousand Rand. And, yes, if the other person is at fault, they are supposed to pay to get your car fixed.
Don’t Be Without Car Insurance
What they are supposed to do, and what they will do might be very different things. Getting the money out of them can be difficult, and what do you do in the meantime?
Then, of course, there are the cases when you are at fault. What if someone suddenly slams on brakes in front of you and you cannot stop in time or swerve? No matter why they stopped, you are automatically held accountable.
That means paying to get your car repaired, and theirs as well. And, if it is extensive repair work that is required, that could mean you sitting without a car for a few weeks, what do you do in the meantime? What happens if your car is stolen, or written off?
Do you have the money to replace it?
Basic Car Insurance is Essential
There are different options when it comes to car insurance. If your budget doesn’t quite stretch to comprehensive cover, you can at least insure it for third party, fire and theft. That way, if you cause an accident, the other person’s car is fixed.
If the car is stolen or destroyed, you also receive a payment.
Is your car financed? If you are still paying it off, the terms of your financing agreement could state that you have to have it comprehensively insured. If you don’t, and something happens to the car, you are still on the hook for the payments and have to find a new car.
It Can Be Handy
Comprehensive car insurance is pricey but you can pare it down to the benefits that you really need to keep it affordable. Can you increase your excess to reduce your premiums?
Don’t forget that the added extras that are really useful, like car hire if your car is undrivable also add value to your policy. The company will usually also ensure that the car is towed from the scene and offer other roadside assistance as well.
Driving your car without insurance is like playing the red at roulette every single time. Sometimes you’ll win, but eventually the ball is going to land on black.
Considering the state of the roads, the crime situation and the cavalier attitude of many of the drivers in South Africa, basic car insurance is not a “nice to have” anymore, it is essential.
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All info was correct at time of publishing