Can South African motorists place a monetary value on having peace of mind knowing that their car is completely protected with car insurance? We need to learn more about comprehensive car insurance before making the informed decision to purchase car insurance in 2021.
What is comprehensive car insurance? 1
This type of insurance provides comprehensive cover, which in turn includes cover for write-off and accident, natural fire and disaster, theft, and hijacking. This type of car insurance could also provide third-party liability cover, full retail value cover, 24-hour roadside assistance, towing service, hail damage cover, glass damage cover, credit shortfall cover, accidental death cover and more.
What about third-party car insurance?
‘Third-party’ refers to the car involved in the accident with your vehicle, while you are the first party, and the insurer is the second party. This cover means that you are covered for damage incurred to the third party’s car.
Why should we consider buying comprehensive car insurance? 2,5
The main issue is that accidents can be very costly, considering the price of spare parts and expensive repairs. Comprehensive car insurance is attractive because it allows you to submit a claim irrespective of who caused the accident.
Comprehensive car insurance is compulsory if you are financing the purchase of a vehicle.
Other advantages of having comprehensive car insurance 2
When you return to your parked car in the street, you can claim for the large dent in the side of your vehicle that was left behind by the careless actions of another motorist. You can agree that being able to make these claims provides you with confidence in knowing that your car is fully protected.
What do other motorists think about comprehensive car insurance? 2,3
Other motorists would likely be grateful to learn that your policy covers their damage as well when the accident is your fault. Unfortunately, if you and the third party are part of the 70% of South African motorists with no cover, an accident may render both cars out of action for a long time due to lack of finance for repairs.
Car insurance cover in South Africa 3
Approximately 70% of vehicles are uninsured, so it could be worth your while to have car insurance. When an uninsured car crashes into you, you could claim from your insurer to get your vehicle roadworthy again. Car insurance that covers such cases could be especially beneficial for South African motorists.
Read the fine print of the comprehensive car insurance policy 2,4
Before you sign any policy, make sure that you fully understand what your comprehensive policy covers and what it does not. Perhaps your car is not covered when travelling on dirt roads? It could also be useful to add a car hire benefit to your policy if it is not already covered. This benefit can assist when your car is at the panel beater for repairs. . The loss of transport can be devastating, especially when you need a vehicle to travel to and from your work.
Disclaimer
This article must only be considered as information. Car insurance is a complex matter, and that is why it is highly recommended that you contact a certified, financial advisor for professional advice should you wish to purchase a car insurance product.
Contact Prime South Africa for more information on affordable comprehensive car insurance with unique benefits that include premiums that never increase* and a reduce to zero excess*. T and Cs apply.
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