Finding The Right Car Insurance

It’s not impossible for even those in South Africa to find the right car insurance if you understand your cover options and the techniques needed to save on car insurance premiums.

You can choose from three basic types of car insurance cover: Third Party, Third Party Fire and Theft and Comprehensive. Third Party is the minimum cover and pays for damage to other people’s property caused by an accident that is your fault. Third Party Fire and Theft adds to the minimum by including cover for damage caused by theft, attempted theft and fire. Comprehensive Cover includes all of this and pays to cover damage to your own vehicle in an accident that is your fault.

While Comprehensive Cover costs the most, it also provides the greatest amount of coverage. Most South Africans should probably get this kind of insurance to cover all of the risks that they face. Now how do you get this insurance at the best price? These are ten tips that can reduce the cost of your insurance. Not all of them will work for you, but at least some of them will be effective for everyone.

First, shop around and compare quotes. You can find substantial savings just by taking this step to educate yourself about your options. It’s easy to do this research online or through a broker. You can also get a discount if you purchase your policy online. Check with individual companies for this option.

If you can afford it, raise your excess amounts to save money in the long run. Just be sure you can pay the excess when you file a claim.Each policy comes with an minimum excess amount. This is the amount you will be responsible to pay in the event you file a claim.

There are benefits to being a safe driver and having a good driving record. If you are safe driver and go a year without claims many insurance companies offer discounts on your premium. If your insurance company does not offer this you might want to look for one that does.

Whenever you are looking at insurance companies always consider the different prices. Higher performance and expensive cars always are a higher cost due to their risk profile and expensive parts. When you are shopping for a car, include the insurance premium in your budget.

If you live in a high crime area, your premiums will reflect that due to the increased risk of your car being stolen or hijacked. Consider moving, not only for better premiums, but for your own personal safety.

Keeping your vehicle off the street at night reduces the risk that it will be stolen or damaged, therefore reducing your premium.You could get a discount if you park your car in a locked garage or behind locked gates overnight.

Most insurance companies will have minimum security requirements for the vehicles it insures. You can add security devices such as gearlocks or global tracking devices that exceed the minimum requirements and receive a discount.

The number of people that are allowed to drive your car will effect your premiums. So when shopping for insurance, it is best to keep the people on the policy as low as possible. The reasoning for this is that the less people that drive the car will make it a lower risk for accidents or things happening.

Don’t be afraid to negotiate. Many insurance companies are flexible about their premiums and will be willing to work with you in order to earn your business.

Tom Martens is the syndication coordinator for Carinsurancesa.co.za. South Arica’s leading car insurance portal.