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Car Insurance
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Reduce you Car Insurance Rates
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Top tips for reducing car insurance rates
The key to reducing your car insurance
policy’s monthly premiums lies in tailoring
your insurance policy to provide cover that
is specifically relevant to your own
insurance needs, while simultaneously acting
responsibly in order to keep your personal
risk profile low.
Follow the below car insurance tips to
ensure that you get the best car insurance
coverage at the best rates when next you’re
in the market for a car insurance policy.
Shop around
Shopping around will help you find the most
competitive car insurance rates and
the best levels of insurance cover. Talk to
your friends or colleagues who are in
similar situations to your own, and find out
which car insurance policy works for them. A
great idea is to request a number of online
car insurance quotes to give you an idea of
what the averaging insurance rates are.
Opting to sign up for the car insurance
policy with the lowest rates is not
always wise. Consider factors such as the
level of insurance cover, the conditions of
cover as well as aspects such as client
service and the excess you will be
responsible for in the event of a car
accident.
Combine your car and household insurance
South African car insurance companies that
sell household, personal liability and car
insurance policies will reduce your
insurance premiums if you use two or more of
their insurance policy products. While
you’re shopping around, be sure to check
that a combination insurance policy costs
less than actually signing up for car
insurance, household insurance and personal
liability cover, respectively!
Make your home safer
Fitting burglar bars, an alarm system or
even a smoke detection system will have a
positive impact on your household
insurance rates, or overall insurance
premiums.
Increase your insurance excess amount
Increasing the excess amount on your car
insurance policy will lower your monthly
premiums; yet you will need to be able to
spend a relatively large sum of money in the
event of an accident. If you cannot afford
to raise your excess, then don’t. Saving a
little bit of money per month is not worth
ruining your budget over.
Excess amounts are the amount of money you
have to pay toward a loss before your
insurance company starts to pay a claim,
according to the terms of your policy. The
higher your excess, the more money you can
save on your premiums.
Stick with one insurance company
If you've kept your policy with a company
for several years and you’ve not submitted
any car or other insurance claims, you may
be eligible for a rebate on your premiums!
Dial Direct Insurance, for example,
features a Bucks Back Bonus every four
years. This means that you get your first
year’s insurance premiums back after the
four-year period has passed!
Review your insurance premium annually
Review your insurance policy each year to
make sure that you are still sufficiently
covered. Also get some comparative
insurance quotes online to ensure that
you’re getting the best insurance cover and
benefits at the best rates.
Use these insurance tips to keep your car or
household insurance premiums as low as
possible!
Car insurance tips to suit a tight budget
Just starting out or serious about getting a
really affordable car insurance policy? Take
note of the following pointers to keep your
car insurance policy costs down to a bare
minimum…
Buy a safe, “ordinary” car
The more expensive your car, the more
expensive your insurance premiums. If your
car has sporty modifications – especially to
the engine – insurance companies have
statistically determined that the driver
will be more inclined to speed – and
speeding causes accidents. To make matters
worse, modified cars are more likely to get
stolen! By opting to buy a safe, average
car, you will definitely reap the benefits
in terms of affordable car insurance
premiums.
Cars with ABS brakes, airbags and other
safety features also fall into a lower risk
category. As such, insurance rates for these
will be lower, even if the cost of the car
is relatively higher.
Combine your car insurance and household
cover
Combining car and household insurance
policies tends to reduce insurance premiums.
So if you have valuables you’d like to
insure, it may be wise to consult your
insurance company about one insurance policy
to cover both these areas.
Keep your insurance claims record clean
Don’t submit an insurance claim if you
merely scratched your car. Pay for repairs
out of your own pocket if the damages amount
to less than your insurance policy’s excess.
Less scrupulous mechanics will often be more
likely to quote you a lower price if they’re
aware that you’re paying for it out of your
own pocket! This means that your risk
profile won’t get higher unnecessarily,
while it’ll also keep your car insurance
rates down.
Ask for a discount
Tell the insurance consultant if you think a
car insurance quote is too high. If the
insurance company really wants your
business, they may well be willing to give
you a discount!
Get an online insurance quote
Online insurance quotes are perfect for
giving you a good overview of what’s
available in terms of South African car
insurance. By requesting an equote, you
won’t need to run around town trying to get
appointments with insurance brokers.
Additionally, car insurance companies such
as Dial Direct
Insurance,
Auto & General,
1st for
Women or
Budget
Insurance Brokers will call you back to
establish whether you are interested in the
equote. In all likelihood they’ll be able to
fine-tune a quote to meet your needs more
accurately – which may well bring down the
insurance policy rate!
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