Perhaps you have a New Year’s resolution to save money or the festive season hit your wallet a little too hard? Either way, many people find ways to save money by re-assessing their monthly expenses. One of those monthly expenses may include car insurance.
Disclaimer
Please do not consider the below general information as financial advice. A certified, financial advisor is best suited to provide you with the required professional advice concerning buying insurance products.
How does someone go about saving money regarding car insurance in South Africa? One option is to get many car insurance quotes from several reputable insurance companies.
What is a car insurance quote?1
Let’s explore what a car insurance quote is before we get into the process of requesting quotes from insurers. A car insurance quote is an estimate of what your car insurance premiums could cost per month via a specific insurer. You supply an insurer with your details, which they use to generate an estimate of what your monthly car insurance premiums could be if you signed up with the respective insurer.
These quotes are affected by several factors. Generally speaking, the more information that you provide an insurer, the more accurate your initial quote will be. This is the case because insurance companies need specific information, such as your vehicle’s age, make and model, to generate a quote. A vehicle insurance quote usually expires after a certain amount of time as well. Be mindful that car insurance quotes may expire after a specific amount of time.
How could you get quotes? 1
Several examples of ways that South Africans may get car insurance quotes could include online quotes via insurers websites, a phone call with an insurer and via their insurance broker.
Seek advice from a certified financial adviser, and together, compare car insurance quotes from multiple reputable insurers. One company, The Balance, suggests getting between 3 and 5 quotes for you to get a good idea about your options.
How should you pick the ideal car insurance quote? 1
People may select their final choice based on the price of the monthly premium. Remember to collect quotes from reputable insurance companies. Ensure that the car insurance quotes include the cover that you need for your vehicle. Make sure that the quotes that you request cover the same insurance requirements so that you can make accurate comparisons.
How regularly should you get car insurance quotes? 1
The rate at which you collect insurance quotes may largely depend on the relationship with your current insurer unless it is the first time you are buying car insurance. Do you thoroughly enjoy your current insurer’s service? If yes, then perhaps stay with your current insurance company. Nevertheless, you may want to get car insurance quotes from other insurers if your premiums have increased to a level that you aren’t happy with now. Other insurers may offer excellent service and well-priced car insurance.
The Balance company suggests getting car insurance quotes at least every 2 to 3 years or sooner if you are not happy with your current insurer. Getting quotes this often will help you make sure that your current insurance company continues to offer you competitively-priced monthly premiums. Whatever your final decision might be, take your time before you make your final decision.
Are you looking for affordable car insurance? Affordable car insurance is attainable with Prime South Africa. With Prime you could enjoy unique benefits such as fixed premiums* if you don’t claim and a reduce-to-zero excess*. *T and Cs apply.
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