How To Get The Cheapest Car Insurance
With increasing petrol prices, interest rates and other living costs, people are trying to keep their budgets in line with the market today. Many consumers consider canceling their comprehensive car insurance to afford other expenses. Recent South African economic data shows that household debt levels while declining, are still high. On average around 75% or more of household income is used to service debt. In the same vein, the most recent statistics from the South African Insurance Association that only about 35% of cars on local roads are insured. This article is going to highlight how to get the cheapest car insurance from any insurer.
Get the cheapest car insurance deals
Most countries insist on a minimum of third-party insurance, to ensure that other road users are not exposed to financial risk, should an accident occur. With the absence of such legislation in SA, consumers are urged to carefully consider the impact of having no comprehensive insurance policy in place for their vehicles whether they are financed or paid-up.
Tips for getting the cheapest car insurance
- Check the market value of your car against the amount you are insured for: By annually calling your insurer you can help adjust your premium in line with the market value of the car to account for depreciation. On this point, King Price Car Insurance offers comprehensive car insurance whereby your car insurance premiums decrease monthly with the depreciating value of your car.
- Opt for higher excess amount: This reduces your monthly premium, but keep in mind that if you have an accident the pay-in amount for repairing your car will be costly.
- Simply install a tracking device on your car: This will help to lower your insurance because you have added another coat of security to your car. Once you have a tracking device installed you should inform your insurer and request a new quote.
- Go for a certified, advanced driving course: These courses make you a safer driver and your provider is likely to lower your premium due to the fact that you are less likely to have an accident.
- Try not to claim too often: If you have a high claim history, this will result in higher insurance premiums.
- Tighten your car security: Keep your car in a locked garage, or guarded basement. By doing so and telling your insurance provider you will be seen as less of a risk.
- Constantly update your personal details: If you move to a safer neighborhood with 24-hour security facilities it will assist in dropping your insurance premiums.
- Compare car insurance quotes: It’s always a clever idea to shop around and compare car insurance quotes online to find the most affordable and best car insurance to suit your budget and needs. Likemoney allows you to compare car insurance companies based on what the country likes and dislikes so that you get unbiased opinions.
Follow these 8 tips and you will be sure to get the cheapest car insurance
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