June 19, 2021
During this South African pandemic, household budgets have suffered considerably, and thus being able to buy cheap car insurance, which is also dependable, is excellent news for any motorist.
The following are tips that show you how to buy cheap, dependable car insurance.1
For many, it’s fine to just judge a policy by its cost, but there is so much more to it than that. You need to know that the total cost is made up of several factors, such as your driver profile, the distance you travel daily, where you park at night and so on. Don’t forget to include car hire for when your car is at the panel beaters. You may lower your premium by excluding this service, but if your job is dependent on your car for commuting and travelling, you may experience serious repercussions.
Unfortunately, it’s either one or the other. In other words, a high excess will provide you with a lower premium, and a low excess a higher premium. If you choose to go for the high excess option, be prepared to have that cash available immediately after an accident. Otherwise, your car remains at the panel beaters until you have paid the excess.
It’s important to know what is in the fine print of your policy, seeing as you are paying for this product monthly. If you are stuck, there is always an insurance agent who can explain the terms and conditions of the policy to you that you do not understand.
It’s a mistake to take the first car insurance quote that comes your way. Yes, it may sound great, but you may well find something even better when you obtain at least 2 other quotes.
It’s a mistake to take the first car insurance quote that comes your way. Yes, it may sound great, but you may well find something even better when you obtain at least 2 other car insurance quotes.
Let’s explore 2 car insurance products on offer with PMD, namely, Third Party Plus with growing benefits and comprehensive car insurance.
This policy provides third party liability cover for up to R500 000 per incident, with premiums that never increase* (*Ts and Cs apply). The interesting part is that this policy also covers your car but is restricted to smaller accidents. It is based on a growing benefit basis until 100% of the market value of your car has been reached. Hail damage is covered up to R10 000.
The two great advantages offered by this policy are premiums that never increase* (*Ts and Cs apply) and an excess that reduces to zero each month for 36 months provided you remain claim free. You also get third-party liability cover up to R1 million, and your car’s full retail value is covered and is not affected by your claims for hijacking, disaster, accidents, fire, theft, and write-offs. The policy provides 24-hour roadside assistance and towing service, while hail damage and glass damage are also covered.
Car insurance is complicated, and that’s why this article can only be seen as information. For the same reason, you need to first consult a certified financial advisor for professional advice before buying any car insurance product.
PMD’s affordable, comprehensive car insurance caters for motorists’ needs, and you could save up to 20%* compared to your existing comprehensive cover. Why not contact them for further information? Ts and Cs apply.