Car Insurance Rates – How to Compare Effectively

Car Insurance Rates – How to Compare Effectively

Get at least 3 quotes

You should take advantage of the increased competition in the insurance industry. In South Africa, competition in the insurance industry is quite tight, so consumers should take advantage of the fact that these companies are all trying to get their attention and are often willing to provide consumers with personalised insurance solutions.

Make sure that you compare at least three quotes.

Look at each quote and thoroughly compare them side by side. Look at the benefits of each insurance policy. You should also look at the type of cover and make sure that it covers your needs sufficiently. Don’t for get to take into account various exclusions.

Compare excess amounts

A policy with a higher excess amount and will have lower premiums. You should make sure that the policies you are comparing have the same excess amounts. This will give you an accurate comparison.

Find out if you’re eligible for discounts

Insurance policies offer certain discounts. Take these into account when comparing car insurance rates. If you are a good driver and haven’t had any accidents, you should find out if this could get you a discount. If you have a good credit rating, find out how this could have an effect on your car insurance rates.

Compare insurance types

Make sure that the cover you have is suitable to your needs. Remember that when it comes to insurance cover there isn’t a “one-size-fits-all” approach. Each individual has their own unique needs.

You need to decide in a specific insurance type that will be best for your needs.

  • Comprehensive cover– this is the most extensive type of insurance so it will have a considerable effect on your car insurance rates.
  • Third Party, Fire and Theft– this cover is often slightly less expensive than Comprehensive cover.
  • Third Party Only – this insurance is the cheapest type and is the most basic form of insurance you get.
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