Car insurance

Are you considering to buy a car? Remember that there’s what we call car insurance which you need to include when buying a car. Suppose you buy BMW or Hyundai i20 otherwise Nissan NP200 and you’re buying the car through finance. Any bank can willingly finance your car, even MFC bank which is a division of Nedbank also offer finance to qualifying individuals who wish to purchase car. But at all times remember you need to take up an insurance to secure your car in case if something like a car accident happens or otherwise a natural disaster happens where your car is badly affected. In such cases you will need to take up car insurance to be able to be covered in cases of unfortunate events. 

There are multiple car insurance companies such as Auto and general, discovery, king insurance, outsurance or dial direct and even more which may willingly offer to cover your vehicle in such events. What matters the most is to go for maximum cover which is mostly being referred to as comprehensive cover which is on top of the list. It obviously come at a cost but worth it. There are factors which influence your monthly premiums and may not be the same factors for someone of the same age buying the same car and again from the same car dealership. It all depends on the location where you’re residing and many other factors related to such. 

Buying a car at an early age may be advantageous but the at same time costly especially during early years and the best advise is that you need to choose only one reliable car insurance company and stick to it throughout as there might be some benefits over time. Being a good driver and claiming less on your car it also works in your favor in terms of having your premiums remaining the same or slightly reducing. With some car insurance companies it is recommended that you avoid claiming unnecessarily to stand a very good chance of being rewarded after years of remaining loyal and not claiming from your insurance broker. 

The insurance company can cover you up to R1 million rands in case you destroy other people’s property such as crushing into someone’s expensive car or home, otherwise it could be infrastructure that belong to organisation and may affect their clients which in turn will therefore cost the organisation hence the cover is necessary to compensate for such claims against yourself as the car owner. Insurance on different cars is completely different and the most expensive car may require huge amount of premiums, taking into account then location and the age of the car owner. Obviously for Range Rover SUV you may need to pay more money on insurance as compare to Mazda 2 hatchback. Another thing to remember is access amount which may be adjusted relative to the premiums. When increasing the access amount you slightly reduce the premium and when reducing the access amount you increase the premium. The rate of premium reduction is not necessarily directly proportional to that of adjustment of access amount. As a new car driver, rather lower the access amount and pay more on premium until you’re confident with driving and only after you Amy adjust the two factors accordingly.