Having insurance in South Africa is a necessity. Considering the high crime rate, high rate of accidents and potholes all over the countries roads, having a vehicle insurance policy will provide you with the necessary cover to protect yourself against the risk of the unexpected.
When vehicle insurance companies decide on how much to quote you, there are a number of factors that they consider.
When comparing vehicle insurance, you should base your decision on the premium only. Make sure that you know about any hidden costs. Make sure that the vehicle insurance company you choose is suitable for your specific needs and your budget. You should make sure that you have a checklist of what you want your policy to cover. Furthermore, you should make sure that the insurance company you choose is a registered financial service provider. According to Likemoney.co.za, customers are very fond of King Price Car Insurance as their premiums decrease monthly to correspond with the depreciating value of your vehicle. You also get to choose the excess that best suits you.
Comprehensive cover: This is the most comprehensive and expensive type of cover you can get. This cover is for theft, hijacking, accidents, fire and natural disasters like hail and floods. It also covers you against claims by third parties where you are responsible for damage to their vehicle.
Third party fire & theft insurance: This covers theft, hijacking or fire. It does not provide cover for accidental damage to your vehicle.
Third party: The cheapest form of insurance. It provides cover for any damage you may cause to someone else’s vehicle, and that’s it.