Getting a car insurance quote is one of the first few things you need to do when shopping for car insurance. You shouldn’t accept the first quote you get, but should rather compare different quotes. Factors that are used when quoting:
The vehicles’ worth – expensive cars are often regarded as high-risk, mainly due to them being high performance vehicles.
Damage and parts costs- The weaker rand has made it more challenging for insurance companies to import parts to repair cars.
Repair times – if it is likely to take long to get car parts to repair the vehicle, chances are that your premiums will be higher.
New car values
5 important questions you need to ask yourself when getting a car insurance quote:
What kind of coverage do I need?
You need to make sure that you get the right type of cover for your needs. If you don’t own your car and you are paying it off in monthly instalments you will need comprehensive cover. If you are looking for a cheaper option, Third Party, Fire and Theft cover may be more suitable to your needs. If you are looking for the most basic form of cover, Third Party Only cover may be ideal for you.
What is my risk assessment?
The more of a risk you pose, the higher your rate will be. There are ways that you can lower your level of risk however. For example, by moving to a safer neighbourhood or by adding extra security features to your car, you could lower your premiums significantly.
Age, gender, your driving record, criminal record and your credit record have an effect on your level of risk.
Who will my policy cover to drive my car?
By adding the name of an older, more experienced driver to your policy you may qualify for lower insurance costs.
What will my excess be?
My choosing to pay higher excess your premiums may be reduced.
Do you offer any discounts?
You should find out from the insurance company if they offer discounts.