By getting car insurance, you are charged a premium by the insurance company. In exchange for the premium you have financial protection in the event of an accident or your car is lost due to hijacking or theft.

It covers lawsuits, including legal fees brought against you as the result of an accident. It covers the bills of vehicle repairs due to damage caused in an accident.

It covers damage caused by other factors than an accident, such as theft or fire.

What are you gaining from car insurance?

You may benefit from additional discounts – such as having multi-policies with the same insurer.

You may get a No-Claims Bonus.

It covers your expenses in the event of vehicle damage or injuries to other drivers, passengers or pedestrians.

If something happens to the car you may not have enough cash available to cover the cost of repair to your car, or to replace the car if it has been stolen or written off. You can save time and you get the benefit of convenience when accidents happen.

If you borrow money to buy a car, then the bank insists that you insure that car for comprehensive cover. This way you can rest assured knowing that you are covered while you are paying the car off.

In South Africa, there are approximately more than 10 million cars on the roads and only about 35% of these cars are insured. Take into consideration the poor infrastructure of South African roads, with numerous potholes as well as high levels of crimes, particularly theft and hijacking and you have more than enough reason to get car insurance. You get peace of mind while travelling on the roads.

There may be additional benefits, such as roadside assistance and medical emergency assistance.

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