4 Ways to Get Low Cost Insurance

Getting low cost insurance is something that many people wouldn’t mind benefitting from. With the high cost of insurance generally in South Africa, more consumers are opting out of insurance. This doesn’t have to be the case however. With better technology and increased access to internet services, more people should actually be able to find ways of getting low cost insurance. 

Here are 4 tips on how to get low cost insurance:

Check to see if you have the right amount of coverage

The first step when you are looking for insurance is to make sure that you get the right type of insurance. In South Africa, depending on the type of insurance you need, you are mostly able to base your choice on three main insurance cover types:

  • Comprehensive
  • Third Party, Fire and Theft
  • Third Party Only

Once you get an insurance quote from at least three insurance providers, you should be able compare the different types of cover and decide if it adequately meets all your needs. You may be able to get lower insurance amounts this way.

Figure out what kind of coverage you currently have and how much you’re paying

If you are currently insured, you need to make sure that your insurance provider is meeting all your needs. If not, you may be paying too much or you may be under-insured. By assessing your current premium you may be able to find ways to save more.

Shop around

This is the most important part of getting low cost insurance. The short term insurance market in South Africa is highly competitive and insurance companies are operating in a consumer-centric environment which calls for them to meet the needs of their consumers adequately.

Negotiate and ask important questions

  • Can I save by paying annually?
  • What kind of low mileage discounts do you offer?
  • What kinds of discounts do you offer for low-risk occupations?
  • What additional benefits am I paying for?

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