Why buying car insurance could be a good idea?

Do you own a car? You may have or be considering getting car insurance in the future. To have car insurance or not was once not a choice. Third-party car insurance was compulsory in South Africa between 1942 and 1997.¹ South Africa’s finance minister, Tito Mboweni, raised the idea of re-introducing mandatory third-party car insurance in his 2020 budget speech.² Third-party car insurance cover is compulsory in some parts of the world today.¹ 

• You could pay a relatively small amount per month in the form of a car insurance premium, which could potentially save you a lot of money in the future. How could this be the case? Car insurance could cover you should you be involved in an unfortunate and costly car accident.
• Comprehensive car insurance covers the most in terms of accident damage, vehicle write-offs and other types of vehicle damage to your car as well as other cars that may be damaged as the result of your actions.
• Third-party car insurance only covers the damages to other vehicles that resulted from your actions behind the steering wheel.
• Fire and theft: Would you be able to replace your car if it were destroyed by fire or stolen by criminals and not recovered? What if you still owed the relevant financial institution money for that car as well?

• Car accidents are not only traumatic to experience, but the aftermath can be traumatic too.
• Avoid potential arguments and litigation to pay for the damages to your vehicle which would be a time consuming and stressful experience.
• Your car insurance company may pay you out quickly to have your car fixed and then pursue the other vehicle owner themselves to recover money for the damage that, that driver caused to your car.
• What about organising you a tow truck, a rental car or finding an approved panel beater immediately after your accident? Reputable car insurance companies should assist you with this.

• Life can be unpredictable. Vehicle accident statistics are an unfortunate reality. 
• The right car insurance cover could help you prepare as much as possible for related uncertainties that could arise, whether you are at fault or not, and especially if the other party doesn’t have car insurance.

• There are many reputable car insurance companies to choose from in South Africa, which offer a wide range of insurance plans to suit all wallets.
• You could find the ideal car insurance deal that provides the cover you need at the price you can afford.

There are many possible reasons why buying car insurance is a good idea. Perhaps you are looking for affordable car insurance? Why not consider buying affordable car insurance with PMD, which includes unique benefits such as fixed premiums* and a reduce to zero excess*. T’s and C’s apply.