Car Insurance In South Africa

Car insurance is a vital part of protecting yourself against potential financial loss if your car is stolen, damaged or if you are in an accident that involves a third party. Not all car insurance is the same though, so it is important to ensure that you have the right level of cover to suit your needs and budget.

Below, well look at some of the ways you can save money on your car insurance premiums, and some of the different options for car insurance in South Africa.

Choose the right level of cover

The best way to ensure that you arent paying too much for your car insurance cover is to ensure that you have selected the right level of cover for your needs. There are several different types of car insurance in South Africa

1.Fully Comprehensive Car Insurance

This is the most expensive type of car insurance, but as the name suggests, fully comprehensive car insurance covers just about every risk your car is exposed to whether it is on the road or parked in your driveway. These risks include losses through theft or hijacking, accidental damage to your car, as well as damage to other vehicles or property caused by your car.

2.Third Party, Fire and Theft

Third Party, Fire and Theft insurance covers you for damage you may cause to another persons car and for liability for injuries or death to third parties in an accident. With this type of insurance you are also covered for loss of your vehicle due to theft or hijacking and damage caused by fire. Your car is not covered for accidental damage, and this is the main difference between this type of insurance and fully comprehensive insurance.

3.Third Party Only Car Insurance

Third Party Only car insurance is the cheapest insurance option, but it also offers the most limited cover. With this type of insurance, you have no cover for your own car. You are only covered for liabilities to a third party for their damages in an accident.

Pay As You Drive Car Insurance

A great option for motorists who dont drive much, or who only travel short distances, is Pay As You Drive insurance. With this type of car insurance, you get comprehensive car cover but your premiums are determined based on the number of kilometres you drive. This can be significantly cheaper than regular comprehensive insurance cover.

Increase your excess

If you opt for a higher excess, you can save money on your car insurance premiums. However, this does mean that if you are involved in an accident, you will have a higher bill to foot. This is a risky option, and you need to ensure that you will be able to afford to pay the excess should the need arise.

Upgrade the security in your car

By installing immobilisers, gear-locks, anti-hijack and tracking devices and car alarms, you can also save on your monthly premiums. Most insurance companies will give you a discount on your monthly premium if your vehicle is more secure than they require it to be.

Park in a garage overnight

If you routinely park your car on the street overnight, it is at a higher risk. Parking in a locked garage or in a gated area reduces the risk of theft. Some insurers will offer you cheaper premiums on your car insurance if your car is parked in a secure area overnight.

Speak to a reputable car insurance broker to ensure that you get the best insurance for your car at the right price.