Car Insurance Cost Statistics in South Africa


What is insurance?

Insurance is the transfer of risk in exchange for money. You pay your insurer for protection and compensation in the event of your car being damaged or destroyed. Having insurance means that it will be your biggest protection against the financial implications of a traffic accident or in the event of your vehicle being stolen. 

So what are the statistics looking like?

In a 2013 report by the International Transport Forum, over R307 billion was spent on vehicle-related accidents on South African roads. During the same period there were 58312 car thefts and 139572 smash and grab incidents.

Only 35% of vehicles on South African roads are insured.

In South Africa, the Road Accident Fund has been set up to assist those who have been involved in a traffic collision, one that was not their fault and now they need assistance in their recovery.

Male drivers are the ones who have more serious traffic collisions.

South Africa has been named the 8th most dangerous country in the world to drive in

What affects your car insurance in South Africa?

  • Your age- younger drivers have higher insurance premiums
  • Your gender- Statistics say that men cause more accidents than women
  • Your driving history- If you’ve had fewer accidents and claims, you will have lower insurance costs
  • Your marital status- married people are generally considered more responsible
  • Your neighbourhood- safer areas in town usually have lower premiums
  • Your daily distances- if you are on the road more often and you are driving more, you’re considered to be a high-risk individual, which means that you will have to pay higher premiums
  • Your car- How you use your car and how old your car is, is something that’s important in terms of determining car insurance costs.





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