Having a car insurance cover is absolutely essential if you own a vehicle. Fortunately, South Africa’s insurance industry has a lot to offer as far as auto-insurance is concerned. However, car insurance can be quite expensive, and often times, people end up paying a lot of money. The good news is that you can probably save a significant amount of money annually by paying less than what you have been paying while still getting high-quality protection.
Many motor vehicle owners in South Africa are in need of cheaper car insurance covers. There are quite a number of ways in which you can get cheaper car insurance. Here are some tips that can help you achieve that.
1. Conduct some research to identify the best car insurance
Many car owners in South Africa go to an insurer, receive a quote, and sign up for their preferred car insurance package. The mistake in this approach is the failure to conduct a comparison to see whether you can get a better and cheaper deal for less cash. Fortunately, there are comparison websites where you can compare prices. You should also compare the renewal quote offered by your existing insurer compared to what other insurance companies are willing to offer.
2. Make annual payments rather than monthly ones
Paying your car insurance payments on a monthly basis will almost always end up costing you more than it would cost if you make a one-off annual payment. The latter may also come with some discounts as insurers in South Africa aim to provide incentives for customers to continue using their insurance services.
3. Take advantage of the no-claim bonus
Most automotive insurance companies provide a no-claim bonus where the insurance amount that customers who have not made any claim are supposed to pay reduces over time. One of the best ways you can ensure that you take advantage of the no-claim bonus is to maintain a clean driving record. In other words, you need to be extra careful about your driving habits so that you can avoid accidents. Note that you can be involved in an accident, and your bonus will not be affected if the accident was not your fault.
4. Reduce the number of drivers on your policy
The fewer individuals listed on your car insurance, the easier it is for you to achieve lower car insurance payments. Make sure that the only individuals listed on your insurance are those that regularly drive the same car. However, note that you should have the ability to temporarily add another driver, such as for a few days.
5. Tailor your insurance to your car usage
Note that people who commute a lot for example from home to work and back every day will likely pay more in insurance than those who use their vehicles for the groceries run every once in a while. This is because higher usage translates to more probability for accidents. If you do not use your vehicle regularly or your commute is short, then you can get a cheaper car insurance package.
6. Consider switching to a different car insurance provider
If you pay a certain amount for your car insurance, consider researching whether you can get a cheaper deal from a different insurer. Chances are that you will find a different insurance company that is willing to charge a cheaper insurance premium than your current insurer.
7. Keep an eye out for unnecessary extras
Review the car insurance offering that your insurance company is willing to provide. Insurance companies will almost always try to upsell their offering by including additional stuff, some of which you do not need. Get your insurer to remove some of those unnecessary extras so that that you can strike a cheaper car insurance deal.