Roughly 65 percent of South African motorists don't have car insurance. That is extremely worrying for the minority who do. What is preventing all these people from assuming responsibility and buying at least the basic cover?
We will start with a look at the different types of insurance. There are three basic types of insurance in South Africa.
The minimum cover is Third Party. This covers your liability (costs) if you damage someone elses personal property in an car accident. This includes other cars or structural property that may also be damaged.
You can add to the minimum by purchasing Third Party Fire and Theft. This will cover you in the event that your vehicle is damaged by fire, theft or attempted theft.
Comprehensive cover is the one that is recommended for most South Africans. And the aAdvantage of comprehensive motor insurance is that it is unique as it covers the most South Africans including Third Party Fire and Theft. It also extends to cover the damages to your own or someone else's car when you are driving it.
Other insurnce schemes mainly consider the drivers in South Africa.they may be comprehensive covers,bike or caravan also.
Because South Africa is a high risk insurance environment, premiums can be high. But you can take some steps to lower your premiums.South Africa is often a world leader in traffic injuries and fatalities and the roads are becoming increasingly dangerous. Car theft and hijackings are also all too common.
Start by shopping around and comparing quotes. It is easiest to research your options online, and you may also get a discount if you purchase your policy online depending on the company you decide to work with.
Safe drivers pay lower premiums. If your current carrier will not reward you for claim-free years, check for better rates with another company.
Examine your excess amount. The higher the excess, the lower the premium because you are responsible to pay the excess in the event of a claim. If you can afford it, raising your excess amount will help you save in the long run.
Are you an owner of an expensive or high performance vehicle, if so you will end up paying more for premiums. These luxury vehicles attract high rates to insure as it is expensive to replace or repair. Keep in mind when buying a car that insurance premiums adds to the value of owning it.
Insurance companies often have minimum security requirements for the vehicles it secures, so if you add security devices that exceed the minimums, you could receive a discounted premium.
Living in high crime areas leaves you at risk for a car theft or high jacking. Considering a possible relocation could bring your premiums down a substantial amount.Parking your car in a safer enviroment such as a locked garage or behind locked gates could also give you a discount.
Don't be afraid to negoiate a deal with your insurance company, because they are very interested in keeping your business and willing to work out a deal with you.
We will start with a look at the different types of insurance. There are three basic types of insurance in South Africa.
The minimum cover is Third Party. This covers your liability (costs) if you damage someone elses personal property in an car accident. This includes other cars or structural property that may also be damaged.
You can add to the minimum by purchasing Third Party Fire and Theft. This will cover you in the event that your vehicle is damaged by fire, theft or attempted theft.
Comprehensive cover is the one that is recommended for most South Africans. And the aAdvantage of comprehensive motor insurance is that it is unique as it covers the most South Africans including Third Party Fire and Theft. It also extends to cover the damages to your own or someone else's car when you are driving it.
Other insurnce schemes mainly consider the drivers in South Africa.they may be comprehensive covers,bike or caravan also.
Because South Africa is a high risk insurance environment, premiums can be high. But you can take some steps to lower your premiums.South Africa is often a world leader in traffic injuries and fatalities and the roads are becoming increasingly dangerous. Car theft and hijackings are also all too common.
Start by shopping around and comparing quotes. It is easiest to research your options online, and you may also get a discount if you purchase your policy online depending on the company you decide to work with.
Safe drivers pay lower premiums. If your current carrier will not reward you for claim-free years, check for better rates with another company.
Examine your excess amount. The higher the excess, the lower the premium because you are responsible to pay the excess in the event of a claim. If you can afford it, raising your excess amount will help you save in the long run.
Are you an owner of an expensive or high performance vehicle, if so you will end up paying more for premiums. These luxury vehicles attract high rates to insure as it is expensive to replace or repair. Keep in mind when buying a car that insurance premiums adds to the value of owning it.
Insurance companies often have minimum security requirements for the vehicles it secures, so if you add security devices that exceed the minimums, you could receive a discounted premium.
Living in high crime areas leaves you at risk for a car theft or high jacking. Considering a possible relocation could bring your premiums down a substantial amount.Parking your car in a safer enviroment such as a locked garage or behind locked gates could also give you a discount.
Don't be afraid to negoiate a deal with your insurance company, because they are very interested in keeping your business and willing to work out a deal with you.
About the Author:
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Aricas leading car insurance portal.
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