What you ought to Know Before Purchasing Car insurance
If you are a driver and owner of a car, not having insurance on your vehicle is like playing on the devil’s lawn. With the way the roads and streets are in South Africa, you know that not having an insurance policy in place could cause you financial ruin. Not only do you want to be covered in the eventuality of a collision or accident, you also need to be covered in case of a burglary or hijacking, as this is happening more and more on the streets nowadays. Being under-insured is also not an option. Under-insurance occurs when the amount for which the property is insured, is less than the value of the property. You need to insure your property for its replacement price and not for the purchase amount, unless it is brand new property. When looking for cheap insurance for cars, you’ll want to ensure that you know precisely what you need protected and what not. Under-insurance and also over-insurance is not an option. Before you enter the insurance provider or broker’s office, ensure you understand what ultimately determines your insurance premium. These are:
– Comparing prices: Don’t simply settle for the second best estimate you find. Should you be not happy with the premium they are offering, don’t accept it; as simple as that.
– Invest in a low risk automobile: high performance cars are more expensive to insurance, for obvious reasons. If you are looking for a cheaper premium, trade in your Subaru for a VW Polo or something similar. You will save tons. If you’re younger than 25, a man and you drive a performance vehicle, you certainly need to look at swopping your vehicle; you should be paying a lot of money!
– Raise your excess: you have probably already heard of this trick. By upping your excess amount on the automobile, your monthly premium will automatically be lower. Just be sure that you will be able to pay the excess when you need to claim, so don’t go too high.
– Safety measures: A car that is parked on the street or even in the front yard will certainly be more expensive to insure than when it’s left inside a secure garage. And if the vehicle itself is installed with an alarm system and immobilizer system, your premium may also be lower. An anti-hijacking device, tracking device and gearlock could also decrease your premium substantially. Should you reside in a high-risk, high crime area, moving is probably the best option to lower your premium.
When you are looking for cheap insurance for cars, make sure you speak to your broker about any discounts they provide and if you qualify for them, as they will usually not inform you of the discounts on their own and you could lose out on a good deal.
Finding cheap insurance for cars may be challenging, but reducing your premium is not and is most likely the better alternative. Just be certain that you know what you need protected and what not to avoid being over- or under-insured.
For more information about cheap insurance for cars visit the website http://www.cheapinsurancecars.co.za
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