Comparing Car Insurance Rates

There are three things you need to look at when it comes to comparing car insurance rates.  Whether you just bought a new car or maybe you’re just doing a review of your finances, comparing your car insurance rates can be an excellent way to see whether you’re getting what you are paying for. The III (Insurance Information Institute) made a suggestion to get at least three quotes from three different car insurance providers in South Africa, each with the same cover, limits and deductibles, so that you can make an accurate comparison.

 

Comparing Car Insurance Rates In Three Ways

Using Liability Limits

Liability cover in car insurance is the payment made to repair your car or to cover your car during a car accident. In most cases, there is a limit to the minimum liability cover you can take. Not all car insurers will have the same amount as they all charge differently. You can increase your liability cover, though, and it would be a good idea. Should you get involved in an accident and the damage is more than your cover, you’ll be expected to pay this out of your pocket.

 

Make sure the liability limits are at a point where you are covered for worst case scenarios. It’s best to be safe rather than sorry later on.

 

Comprehensive cover

This is the type of cover where you as the owner of the vehicle are either expected to pay a fixed amount out of your pocket, or not pay anything at all. In other words, should you get into an accident and you have comprehensive cover, you’ll be expected to pay a fixed amount first before your insurer covers the rest of the damage. With comprehensive cover, you pay less in monthly insurance fees, but more out of your pocket later, should something happen.

 

Choose The Same Cover With Every Auto Insurance

By selecting the same cover with every insurance provider you’ve contacted, you can see which insurance provider charges you more or less, in different areas. Some might consider more comprehensive cover, and that’s why you pay less where others hardly have any comprehensive cover at all.

 

These are things you need to compare, both financially and physically. In other words, will it be better to pay less every month but pay more in the event that something goes wrong and you’re forced to pay R3000 from your pocket to cover costs or have it all covered?

 

The Secret Fourth Option

You can do all of these comparisons yourself and sit for hours trying to find the best but cheapest car insurance providers, or you can accept the first insurance quote you get. But, if you were smart, you’d let an expert like LikeMoney do the comparison for you and direct you to the best car insurance providers that will both suit your pocket and needs. Or maybe, you’d like to pay less for your car insurance every month as the value of your car decreases, in which case you can use King Price Car Insurance. Whatever your choice is, letting an expert do the comparisons for you is always the best way to save every month.

 

Also read about:

 

Cheap Car Insurance Quotes Guaranteed

 

Car Insurance Quotes Comparison


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