Know what coverage you’re getting
Make sure that you compare quotes for identical or at least very similar quotes. You need to make sure what you are getting coverage for so that in the event of you needing to submit a claim you know exactly what to expect.
In South Africa you can choose one of three main car insurance types:
- Comprehensive cover
- Third Party, Fire and Theft
- Third Party
You need to make sure that you choose an insurance type that meets your specific needs. When it comes to car insurance there really isn’t a “one-size-fits-all”. Instead you need to get the type of cover that meets your needs. Take your time to compare the different types of cover.
Understand that cost isn’t everything
When comparing car insurance quotes you need to look beyond just the price. You need to keep in mind that insurance companies use a range of factors to decide on your quote. So if you want to reduce your premiums and improve your level of cover you can in fact make a few changes to your lifestyle and influence your premiums.
Speak to your family, friends and experts to find out what kind of experiences they have had with various insurance companies. This will help in terms of deciding on the insurance provider you need.
Research the insurance company’s financial standing
You’ll want to make sure that the insurance company of your choice is a registered credit provider and that it will be able to pay out when you need to claim.
Beware of paying monthly
When searching for an insurance quote you need to find an insurance provider that has an option available to individuals for paying annually and not just monthly.
Get all the information you need about excess
The car insurance quote that you get should be clear about the amount of excess. You should compare the amounts of excess charged by different insurance companies.