The automotive insurance market in South Africa is one of the more difficult ones in which to operate. Since the government does not mandate that all drivers carry car insurance, most drivers end up going without it. Also, drivers there are some of the worst around. In fact, South Africa has often had the dubious honor of being ranked number one in both traffic injuries and fatalities.
This combination of a risky driving environment and the alarming number of uninsured drivers has led to high insurance premiums for responsible drivers looking for auto cover.
Although it is the most costly form of insurance cover, Comprehensive Cover provides the highest form of protection of all the other insurance covers. The cover includes protection not provided by the other two other forms of cover, Third Party and Third Party Fire and Theft. Third Party covers you in case there is damage another persons property in an accident or a person is injured in a mishap that you are responsible for. Third Party Fire and Theft covers you when your vehicle is destroyed by fire or is stolen. Comprehensive Cover on the other hand is an all inclusive cover. It covers damage to your car, medical expenses and replacement of broken glass
For the moment this may not mean a lot to you. But when you understand that each time you drive without a proper insurance cover, you put at risk your car, yourself, cargo and other road users. Can you afford to replace or get your vehicle repaired without insurance? In case you are involved in a car crash and you are at fault, can you meet the expenses to repair or replace somebody elses car or property? What if your own motor vehicle gets stolen, hijacked or smashed up? If you cannot afford to meet these kinds of expenses from your own pocket, you definitely require insurance.
Since you are informed that insurance is needed, learning about lowering your premiums will take some time.
Your driving record is a major factor. Any violations that appear on your record will be a red flag to the insurance company, suggesting that you are a higher risk; therefore your premiums will be higher. In subsequent years, your premiums may decline if your driving record improves. Drivers with clean driving records may receive a discount for each year in which they do not file a claim.
When insuring a car, the a major factor is the type of vehicle. Higher risks are assigned to high performance vehicles. Also, insurance for luxury cars will cost more because they are more expensive to repair or replace.
Some insurances allow for lesser rates if you make your car more safe. Consider putting in a GPX or extra locks to hold down insurance costs.
As you begin to research your insurance options, youll find comparing quotes and policies easiest online. You can even get a discount for buying your policy online. Keep in mind as youre shopping that the cheapest insurance is not always the best choice. Your goal is to find the insurance that meets your needs at a price you can afford.
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