What to keep in mind when buying car insurance in South Africa

Buying a cheap policy from the first car insurer you find would be unwise. It’s always a good idea to research various car insurance companies. Don’t rush into a decision without exploring different insurance companies, policy options, and premiums. Take advantage of online resources, customer reviews, and recommendations. Gather as much information as possible so that you can find the best cover at a competitive price that suits you. ¹

When submitting information to the insurer, make sure it’s always truthful. This will help to avoid any potential issues at claim time. An accident can prove costly should the insurer refuse to pay out. If you are unsure about some information you need to submit, ask the insurer for further clarity. ¹

It may seem time consuming for some, but reading and understanding your policy’s fine print is essential. There may be exclusions that tell you what the policy does not cover. If you don’t know that, it may cost you dearly when you try and claim. Be aware of your excess amount, which is your self-insured portion that you must either pay to the insurer or repairer after an accident. Does your policy provide a 24-hour roadside and towing service in case your car breaks down on the road? Remember to ask the insurer to explain anything on the policy you may not know or don’t understand. ¹

Car insurance is all about risk, and as soon as your car’s risk status changes, you must inform the car insurance company. For instance, if you have recently relocated to a safer suburb or you now park your car in a property with increased security, such as a lock-up garage, beams, dogs, and an electric fence, let the insurer know. The same applies if you’ve also recently installed a car tracker. All these security improvements could lower the premium. ¹

The article explains what to avoid when buying car insurance. ¹

We can all get overwhelmed when buying car insurance, but the biggest oversight is not buying any cover. Without car insurance, you could expose yourself to serious financial challenges. We at Prime South Africa pride ourselves in world-class client service, while you learn more about our affordable car insurance products. They are comprehensive and customised car insurance with fixed premiums* and reducing excess*. Comprehensive or customised car insurance is available for cars not older than 15 years, but there’s no age limit for our third-party PLUS car insurance plans. Ts and Cs apply.