Car Insurance Companies: Things They Wont Tell You

When taking out car insurance, it is always best to ask as many questions as you can as lots of car insurance companies keep certain critical information to themselves. Let’s take a look at some of these factors so you’ll be well prepared should something bad happen to your precious mode of transport.car insurance companies

Things Car Insurance Companies keep to themselves:

How much making a claim could increase your rates:

When taking our a car insurance policy, you should ask if there is a first-accident forgiveness policy and how to qualify. Often making a single claim can skyrocket your premium.

Your credit history can drastically affect your car insurance claim:

Not many South Africans are aware, but your credit history will have an impact on your vehicle insurance premiums. If you have a good credit rating, your credit score will show you as a low-risk individual by car insurance companies. For this reason, you’re likely to lead to lower car insurance premiums.

Paying with monthly installments will usually increase your overall bill:

Most people don’t know; you’ll be paying more should you pay monthly. By paying annually, you could make significant savings.

Your car model affects your premium:

The make and model of your car affect your car insurance premiums. If you drive a high-performance car, you will pay a higher insurance premium because your risk is higher especially if you are young. Furthermore, the more expensive your vehicle is, the higher the insurance premiums will be. Reason being, it’s in connection with the repair costs associated with such cars. Car insurance companies base their decisions on how likely an individual is to be involved in an accident. The higher the risk, the higher the premiums. People under the age of 25 in South Africa are usually seen as high risk especially if they have a high-performance car like a VW Golf GTi etc.

There IS room for negotiation:

In the event of a claim, you must know there is room for negotiation. You do not have to accept everything that your car insurance provider says they will offer.

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Car Insurance Companies: Things They Wont Tell You
Article Name
Car Insurance Companies: Things They Wont Tell You
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When taking out car insurance it is always best to ask as many questions as you can as lots of car insurance companies keep certain critical information to themselves.
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likemoney.co.za


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Tsukas
10-09-2016

Just what I was looking for.

 
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