Why do you need to get car insurance?

There is a high accident and car theft rate in South Africa. As a car owner, it’s important for you to protect yourself from financial ruin in the event of your car getting ruined in a car accident or if it gets damaged by hail or fire. Theft and hijacking cover is also included in certain types of car insurance types.

Factors that can contribute to the cheapest car insurance:

The type of cover that you get

The more extensive the cover, the higher the costs

Safety features

Having airbags in your car could increase the premiums. This is because the cost of replacing them is high. Conversely, having an alarm system or fitting a vehicle tracker can drive the costs of car insurance down significantly.

The age of the vehicle

Older vehicles may cost less to replace

Vehicle type

Sporty vehicles will cost more due to their power and speed

Where you live

The neighbourhood in which you live will affect your insurance costs. This is in addition to whether or not your car is kept in a locked garage at night

Human factors such as the age of the driver, gender, driving experience and driving record have an effect on car insurance. If you are above the age of 25 though, you may qualify for a slight discount. First-time drivers with no history on South African roads will have higher premiums.

It costs more to insure your car in a separate “stand-alone” policy. It may be helpful to consider having a multi-policy.

You may qualify for a No-Claims Bonus.

The person who takes out the insurance policy must pay an excess which is the first amount payable on any claim. You can negotiate your excess amount.