Car Insurance Warning – Cheaper Premiums Could Cost you More

It makes sense in tough economic times to look for cheaper car insurance. Everyone is always looking out for a bargain, and with car insurance cheaper premiums are no different.

Getting  car insurance with cheaper premiums can, after all, save you big bucks and also provide protection at the same time. There’s quite a bit you can do to ensure you get cheaper premiums but that is it also  the right cover? Saving money on car insurance isn’t simply a case of finding the lowest premium.

You get these insurers who do have lower premiums. They don’t  tell you that the cheapness of these premiums can end up costing you far more because the cover is so much less. You believe youhave cover, but the cover may be just for minor incidents and you may find yourself with a massive bill if you’ve been in an accident.

Cheap Car Insurance can Cost You Your Life

Cheaper Premiums for Car InsuranceAlso, higher premiums ensure you get some great extras that in South Africa are imperative. Look athour assistance breakdown cover for instance. In South Africa, having a broken down car can be a death sentence and cost you your very life. Cheaper car insurance premiums don’t include these critically important extras.

Also, some cheap insurance policies keep their costs low by making unreasonable demands. They insist you make use of their repair centres and in the end, you become the victim of shoddy repair job that sees you having to pay more to fix the useless work.

Eliminate Unnecessary Clauses

South Africans tend to think that they can only negotiate car insurance rates when actually buying the policy. But each year you can to negotiate lower car insurance rates for a better deal. There isn’t only one type of car insurance. Car owners are inclined to just go with the first type of insurance that the financial institution recommends but being clued up on car insurance and how you can eliminate unnecessary clauses can reduce your insurance premiums.

Pay a Higher Excess for Cheaper Premiums

You can also reduce your monthly car premiums by choosing a higher excess. When taking out an insurance policy, you may well find that the excess payable is stated on your policy. Most insurance providers have a compulsory excess that you must pay when claiming.

Make sure therefore that you understand your policy documents and what the compulsory excess amount is. You can opt to increase your basic excess, and in doing so lower your monthly premium. Make certain you can afford the higher excess payment when you have to make a claim.

Boring Fine Print MUST be Read

You’ve got to do your research thoroughly if you want to make the right car insurance choices. The reason for this is that you’ll notice plenty of new insurers popping up these days. They offer you these exceptionally low monthly premiums, and cash-strapped South Africans snatch them up thinking its a good deal until the time comes to claim.

Boring though it is, read the small print so you know the actual value of the insurance package you’re investing in. You don’t want to have the so-called benefit of low premiums with essentially no other benefits to talk about.


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All info was correct at time of publishing September 5, 2018