Car Insurance In Review
Car insurers are constantly designing products for South Africa’s unique driving environments. All drivers, from the urban to the off-road, can find suitable insurance coverage to meet their specific needs.
Most South Africans should have Comprehensive Cover. In reality, 65 percent of auto owners in South Africa do not have any coverage. This is a shocking number especially in light of the rising rates of fatalities and injuries on South Africa’s roads. If you don’t have insurance, take stock of your situation. Can you afford to repair or replace your car in the event of an accident? Can you afford to repair or replace someone else’s car or property in the event of an accident that is your fault? What if your car is stolen, hijacked or vandalized? Owning and driving a car is risky business - that’s why you need car insurance.
Third Party Only covers you if you are responsible for damage to someone else’s property in an auto accident. Other options include Third Party Fire and Theft Cover, which pays to replace or repair your vehicle as a result of fire, theft or attempted theft.
Motorcycling is a widely accepted form of both transportation and sport. From America, to South Africa, communities of avid motorcyclists can be found. And just as in the operation of a car, a motorcyclist needs insurance to protect themselves against loss or damage as well. Thankfully there are policies designed specifically for this growing need.
South Africans love to spend time outdoors, and insurance companies have developed policies that specifically deal with the hazards of traveling around the countryside. Off-Road Comprehensive cover deals with the risks of off-road driving.
If you’re considering car insurance for the fist time, you may be surprised by how expensive premiums can be . Several factors drive these rates, and you have a certain amount of control on how they affect your premium.
Younger drivers are considered a higher risk, and therefore pay higher premiums. If you have no driving history, or if your history includes accidents or dangerous driving habits, your premiums will be higher. But, as you age and build a better driving history, your premiums will reflect the lower risk.The first factor, one you can’t really do anything about, is your age and driving record. Fortunately, the passage of time has a great effect on this factor.
The value of your vehicle is another important consideration. Expensive vehicles are more expensive to insure, as are high performance vehicles.
Some companies have minimum safety requirements, but will discount your premiums if you exceed these minimums. Also consider where you keep your vehicle. If your car is parked in a high-crime area or even on the street overnight, you’ll pay for that risk.Another way to reduce your premiums is to increase your safety measures.
Be sure to research different kinds of insurance and how they relate to your situation. Just because something is cheap doesn’t mean it is right for you. Be sure to select the policy that meets your needs and is at a price you can afford.
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Arica’s leading car insurance portal.
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