Approximately 65 percent of South African drivers do not have auto insurance cover. That is an alarming statistics for the 35 percent of those who do. So, what is keeping that 65 percent from making the responsible decision and purchasing at least the minimum cover?
Lets commence by summarizing the types of insurance.In south africa, auto insurance coverage has three basic types.
The minimum cover is Third Party. If anyone damage other’s personal property in an automobile accident it covers the liability (costs). This includes other vehicles or structural property that may also be damaged and also the minimum cover is third party
You can add to the minimum by purchasing Third Party Fire and Theft. This will cover you in the event that your vehicle is damaged by fire, theft or attempted theft.
Comprehensive Cover is the recommended cover for most South Africans. It includes Third Party Fire and Theft and also covers damage to your own vehicle in an accident that is deemed your fault. It also includes additional coverage such as extending cover when you drive someone elses car.
Other insurnce schemes mainly consider the drivers in South Africa.they may be comprehensive covers,bike or caravan also.
South Africa is often a world leader in traffic injuries and fatalities and the roads are becoming increasingly dangerous. Car theft and hijackings are also all too common. Because South Africa is a high risk insurance environment, premiums can be high. But you can take some steps to lower your premiums.
Begin by looking around and comparing quotes. It is much easier to research your many options via web. You could also possibly get discounts if you purchase your policy via the web if the company you want to work with enables this.
Safe drivers pay lower premiums. If your current carrier will not reward you for claim-free years, check for better rates with another company.
Examine your excess amount. The higher the excess, the lower the premium because you are responsible to pay the excess in the event of a claim. If you can afford it, raising your excess amount will help you save in the long run.
If you own an expensive or high performance vehicle, you will pay more for your premiums. These cars cost more to insure because they are considered a higher risk and are expensive to replace or repair. So when you car shop, keep in mind that your insurance premiums will add to the cost of owning the vehicle you choose.
Because most insurance companies often have minimum security requirements for vehicles that they secure, exceeding the minimums by adding security devices can result in a discounted premium.
If you live in a high crime area, your car is at greater risk for theft or hijacking. Consider moving to get lower premiums. You can also receive a discount if you park your car in a locked garage or behind locked gates overnight.
Never think twice to have a negotiation. When an insurance company is looking to get your business then they will for sure for an extent work on your terms
Tom Martens is the content syndication coordinator for Carinsurancesa.co.za. South Aricas leading car insurance portal.
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