December 17, 2020
The value of your car can influence your car insurance premium that you pay each month. Discover which cars can provide you with a lower premium in this article.
Many factors influence your car insurance premium. Some of these factors include where you live, your age, your gender, as well as your driver profile which covers your driving history. Have you been driving well and had few accidents, or have you been involved in many accidents? You can do something about your driver profile, but you can’t change your age, gender, or, possibly, your address.
It would be prudent to do some homework on the car you wish to buy when it comes to car insurance. It is so tempting to fix your eyes on that dream car which is going to provide you with fantastic motoring. In the excitement of getting their ‘supercar', motorists may forget about the actual cost of car insurance.
Read on and find out which items could attract lower premiums.
Owning a car with many safety features and a high safety rating could help towards insurers lowering the insurance premium. Risk influences car insurance premiums and the probability of a car with a high safety rating to be involved in an accident may well be reduced. This, in turn, would end up in fewer claims.
When you are busy choosing a car to buy, inquire about features such as electronic stability programs (ESP), forward-collision warning (FCW) and autonomous emergency braking (AEB). Why not also search the internet for information about which entry-level cars in South Africa have noteworthy safety features?
When calculating a premium for your car, some insurance companies may factor in the make, model and cost of the vehicle. For instance, luxury cars are likely to be covered by a higher premium due to the high repair costs.
Opting for a slightly more affordable car instead of your expensive dream car may reduce your monthly premium considerably.
Buying a car that does not pose a high theft risk should attract a lower premium. It may be worth your while to do some homework and determine which car make and model is targeted the most by criminals. By fitting any anti-theft equipment into your vehicle could also help to lower the premium.
Everything depends on what you choose. If you are happy to pay high premiums, then go for the dream car of your choice. But, for those who may be watching their budgets, why not contact PMD with the above information in mind, and discover more about their affordable car insurance products?
This article should only be considered as information as car insurance is complex and can be influenced by many factors. If you are planning to buy a car insurance product, please contact a certified financial advisor for professional advice.