Understanding the world of auto insurance can feel a little, well, daunting. Especially if you’ve never thought about it or taken out a policy. Given that we’ve been in business for 10 years now (oh god, where does the time go!), we thought we’d share a few tips and tricks to keep you as knowledgeable as possible.
According to the great Dr. Seuss in his wonderful book I Can Read With My Eyes Shut (highly recommended btw) the more you learn, the more places you will visit.
With that in mind, here are the things we think you should know before getting car insurance.
Car insurance is not compulsory in South Africa
There are many places in the world where auto insurance is mandatory. Like in Denmark, where by law you must have cover for bodily injury, bodily injury, property damage, etc.
But in South Africa there is no law obliging anyone to have any type of car insurance. (However, if you want to finance your new wheels, you will need to take out comprehensive car insurance as part of your financing agreement.) That being said, if you’re buying your wheels in cash, we’d argue that it’s still a good idea to get insurance… Even if it’s just motor liability insurance to cover the costs of the other person involved in the accident with your car.
You need car insurance to protect yourself
Yes, if you’ve been involved in an incident involving your car, liability insurance will help you avoid having to pay out of your own pocket for damage to other people’s property (or their cars)… But the reality is, your car is everyone’s, too times at risk when you get in your car. Even if you are the most incredible driver.
The king’s royal car insurance protects you from such expenses.
The cost of car insurance depends on many factors
We’re all looking for the lowest premiums, and the good news is that you have a few options to ensure you’re paying a reasonable rate. Before we give you any hints, however, you should know that your actual bonus depends on several factors.
These factors include the make, model, year and color of your car. This includes where you park the car at night and during the day and how often you drive. Your personal information is also important, including your age, how long you have had your license and whether you have been involved in any accidents.
Claims are rejected
The information you give your insurance company is so important. As we said, we ask for many details about you and your car in order to create a risk profile that is unique to you. We use this profile to calculate your monthly premium.
Sometimes people fib a little or hide a few details that they don’t think are a big deal. Or sometimes they know it’s a big deal and fear they’ll pay a sky-high premium for telling us about accidents they’ve had.
However, honesty really is the best policy. If you are not honest or mislead your insurer you are committing fraud and if this is discovered during a claim it will likely be denied. Worse, your policy could be canceled leaving you without cover.
There are things you can do to pay less
Of course, you can go online and compare multiple car insurance quotes to find the cheapest option. It’s child’s play. But at King Price, we don’t just offer simple, cheap insurance, we’ve also found a number of other ways you can pay less:
There are different types of coverage in our kingdom, the cheapest being our Royal Motor Liability Insurance. Just remember that you are only covered for accidental injury or damage to someone else’s property, and no more than that.
- Get up to 20% off with our “Multiple Car Discount”
The more cars you insure with our comprehensive insurance, the more you save on your premium.
Ask for a higher deductible to lower your premium, but make sure you choose an excess amount that you can afford, as an excess is a non-negotiable fee that you pay when making a claim.
We hope this information was very helpful. If this has inspired you to find out more or to get car insurance for the first time, then give us a call on 0860 50 50 50. Or simply click here to receive a non-binding offer today.