South African drivers discover the secret to keeping insurance premiums low after lockdown
Author: Philip Adams
Vehicle owners are still feeling the financial pinch coming out of lockdown. This MUST READ article provides invaluable tips on how to keep vehicle expenses low on tight budgets …
As the mileage on our cars begins to rise once again, should we expect the same from our car insurance premiums?
Saving on car insurance during lockdown level 1: Just because the mileage on your car is rising, doesn’t mean your monthly car insurance premium has to rise with it. Speak with your insurance provider about how to keep your premiums at a price you can afford. Source: Adobe Stock.
Ways to lower car insurance premium
– Negotiate lower premiums with your current car insurance provider
With more petrol in the tank and fewer kilometers on the clock, you already have a strong case to bring to your current insurer. See if you can talk them down on the monthly premium amounts, so you can still enjoy the peace of mind from a comprehensive insurance policy for less.
– If your car is equipped with a vehicle tracker, you can prove that you are a responsible driver.
– Get car insurance quotes from other service providers offering similar benefits to your current policy.
Savings Example:
If exorbitant premiums were an issue for you even before lockdown, now may be the time to consider downgrading to a more affordable car insurance policy. Some car insurance companies offer policies that take a car’s mileage into consideration when calculating monthly premiums. Lower mileage means lower risk. While there are no obvious risks associated with your average low-mileage driver, if you do clock up a lot of mileage unexpectedly, the premium will increase to accommodate the higher mileage. This flexible car insurance solution could potentially lighten the load under level 1 lockdown.
What is the mileage on you car?
– Increase your excess amount
By increasing the agreed-upon copayment amount with you car insurance provider, you can reduce your monthly premium. However, if you do get into an accident, this excess amount can hit you hard financially and it could take some time to get the money together to repair your car.
– Downgrade cover from “Retail Value” to “Market Value”
You can lower your car insurance premiums by switching your cover from your car’s “Retail Value” to its “Market Value”. However, this means you will be responsible for cover the difference between these two price tags.
– Change to a different insurance provider that offers more affordable premiums
If you’re not happy with your current insurance provider’s third-party, fire, and theft-type alternatives, it may be time to look for a new insurance provider. Maybe you hadn’t considered looking at other car insurance policies and providers in the past. But that could be to your detriment. It’s always a good idea to look out for new offerings regularly as this can improve your chances of finding the very best car insurance for your budget.
All Things Motor can help save you money on your car insurance by sourcing quotes from South Africa’s top insurance providers. Get quotes on lower car insurance premiums today!
Work out your reduced insurance cost now!
South African drivers discover the secret to keeping insurance premiums low after lockdown
Author: Philip Adams
Vehicle owners are still feeling the financial pinch coming out of lockdown. This MUST READ article provides invaluable tips on how to keep vehicle expenses low on tight budgets …
As the mileage on our cars begins to rise once again, should we expect the same from our car insurance premiums?
Saving on car insurance during lockdown level 1: Just because the mileage on your car is rising, doesn’t mean your monthly car insurance premium has to rise with it. Speak with your insurance provider about how to keep your premiums at a price you can afford. Source: Adobe Stock.
Ways to lower car insurance premium
With more petrol in the tank and fewer kilometers on the clock, you already have a strong case to bring to your current insurer. See if you can talk them down on the monthly premium amounts, so you can still enjoy the peace of mind from a comprehensive insurance policy for less.
– If your car is equipped with a vehicle tracker, you can prove that you are a responsible driver.
– Get car insurance quotes from other service providers offering similar benefits to your current policy.
Savings Example:
If exorbitant premiums were an issue for you even before lockdown, now may be the time to consider downgrading to a more affordable car insurance policy. Some car insurance companies offer policies that take a car’s mileage into consideration when calculating monthly premiums. Lower mileage means lower risk. While there are no obvious risks associated with your average low-mileage driver, if you do clock up a lot of mileage unexpectedly, the premium will increase to accommodate the higher mileage. This flexible car insurance solution could potentially lighten the load under level 1 lockdown.
What is the mileage on you car?
– Increase your excess amount
By increasing the agreed-upon copayment amount with you car insurance provider, you can reduce your monthly premium. However, if you do get into an accident, this excess amount can hit you hard financially and it could take some time to get the money together to repair your car.
– Downgrade cover from “Retail Value” to “Market Value”
You can lower your car insurance premiums by switching your cover from your car’s “Retail Value” to its “Market Value”. However, this means you will be responsible for cover the difference between these two price tags.
If you’re not happy with your current insurance provider’s third-party, fire, and theft-type alternatives, it may be time to look for a new insurance provider. Maybe you hadn’t considered looking at other car insurance policies and providers in the past. But that could be to your detriment. It’s always a good idea to look out for new offerings regularly as this can improve your chances of finding the very best car insurance for your budget.
Work out your reduced insurance cost now!