September 26, 2022
Car insurance is an absolute necessity for all South African motorists, especially because 70% of the 11 million motorists had no cover in 2021.1 However, the availability of cheap car insurance has become even more crucial because of the devastating effect of the pandemic on household budgets. But cheap car insurance is not necessarily of good quality. Your car insurance should be reliable. This article provides you with a summary of the current economic climate, how to reduce insurance costs and an appealing perspective of affordable car insurance products, as provided by PMD.2,3,4,5,6,7
We all need car insurance, but what if we can't afford it? Fortunately, there are several ways to reduce its cost.5
Despite the many aggressive drivers on South African roads, you can choose to drive carefully and defensively.5 Not only will this reduce your risk of having an accident, but it will also positively influence your driver profile or the way you consistently drive.5 Good, accident-free driving poses less risk to an insurer, resulting in lower premiums.5
Why not take advantage of discounted premiums by insuring all your vehicles with one insurance company?5 In this win-win situation, you pay less, while the insurer enjoys more business.5
This is one way to minimise the daily use of your car for going to work.5 Perhaps you can arrange with your employer to work from home a few days a week, thus saving further transport costs.5
Go online and compare quotes from reputable car insurance companies.5 Find out from an online consumer platform such as Hellopeter how well a company satisfies client needs.5
The higher the excess, the lower your premium will be. Ensure you have sufficient cash available should you have an accident.5
Your situation may have changed, with children having left home.5 So, instead of keeping a large family car, buy a smaller one, which uses less fuel and costs less to insure.5
If you live in a high-crime suburb and have no protection for your house, such as electric fencing, the risk to the car insurer of parking your car there may be quite high.5 Negotiate with your insurer what protective measures you can undertake to reduce the premium.5
Fortunately, most modern cars already have such devices.5 Ask your insurer what discount he will give you for installing a tracking device.5
It is essential to connect with your insurer and work out a solution for the best car insurance deal to suit your financial and car insurance needs.5
PMD is a financial services provider, specialising in providing affordable car insurance products.6 As early as 2009, PMD concluded that there is a dire need in South Africa for affordable car insurance, which can help millions of uninsured motorists.6After re-examining their product range in 2018, PMD developed their successful Prime Motor range with different products to cater for every budget.6
This comprehensive car insurance cover has fixed premiums* and reduce to zero excess* T’s and C’s apply.6 It protects you from theft, hijacking, natural fire and disaster, write-off, and accident cover.6 Other benefits are third-party vehicle liability protection for up to R1 million per incident, car cover up to 100% of its retail value, R10 000 free accidental death cover, 24-hour roadside assistance and towing, and hail damage and glass cover.6 Finally, the policy covers vehicles up to 15 years old.6
This policy provides with you a chance to customise the benefits and cover to your liking.
Prime Motor Customised covers your car when it is totally lost through accidental write-off.6 It has fixed premiums*and reduce to zero excess* T’s and C’s apply.6 It covers theft, hijacking, natural fire and disaster, and a growing cover contributing to the cost of repairing a car in an accident.6 Other benefits are third-party vehicle liability protection for up to R500 000 per incident, cover up to 100% of its market value, and 24-hour roadside assistance and towing.6 The policy covers vehicles up to 15 years old.6
Third-party protection cover PLUS more!
This policy includes a growing cover benefit that pays towards the cost of repair when your car has been in an accident.6 Other benefits include third-party vehicle liability protection for up to R500 000 per incident and cover up to 100% of its trade value for vehicles of any age.6 Also, you get fixed premiums* with this car insurance cover. T’s and C’s apply.6
Car insurance companies may advertise amazing products but, in the end, it comes down to delivery and customer satisfaction. PMD has officially had 12 months in a row of hitting 10 out of 10 on the Hellopeter Trust Index, rating very high in the car insurance category, based on 5 September, 2022.7 Client reviews on hellopeter.com could be helpful for South African motorists because these reviews are genuine. Clients are free to provide a review of their experience via hellopeter.com.7
This article consists only of information because of the complexity of car insurance. If you wish to buy car insurance, you must first consult a certified financial advisor for professional advice.
Remember to purchase comprehensive car insurance if you buy a new car with bank finance. Now that you’ve a better idea of what car insurance products PMD offers, why not contact them at your earliest convenience?
November 7, 2023
November 7, 2023