Car insurance can be a tricky subject.
Thus, if you want to know more about this product, here are some of the most common car insurance questions.
What Car Insurance is the Best?
The ideal car insurance policy for you is the one that provides you with a reasonable and logical cover for your vehicle without compromising your budget.
Some companies like Anderson, Absa, Sanlam, Iwyze offer you quality services and affordable auto insurance premiums and quotes. So, you can manage your insurance policy while also saving a ton of cash.
How Can One Pay Less for Auto Insurance?
You can pay less by getting incredible quotes from some of the best car insurance companies like Sanlam, Absa, King Price, among others. Some of these firms offer you affordable premiums that reduce monthly in line with the depreciating value of your vehicle.
Most car insurance companies also let you lower your insurance premiums by increasing your additional sum, but remember that you’ll have to pay this extra amount if you claim.
What Vehicles Have the Cheapest Insurance?
Some of the cars with the most affordable insurance policies include:
- Chevrolet Aveo and Spark
- Nissan Micra
- Kia Picanto
- Toyota Corolla and Etios
- Ford Figo
- Nissan 1400
- Renault Sandero
- Hyundai i10 and i20
What’s the Cost of Insuring A New Vehicle?
Insuring a new vehicle can cost you more than a slightly older or used car.
The price you pay will be dependent on the type of vehicle you need to insure, the insurer you select to go with and your personal information like the amount of time you’ve had your driver’s license and how old you are.
Do You Need Insurance to Purchase A Car?
No, you don’t need to have insurance to purchase a vehicle.
Nonetheless, if you’re taking out a loan from financial institutions to settle the bill for your new, or new to you, vehicle, then you do need to get the comprehensive car insurance policy. If you’re looking for affordable premiums and favourable car insurance quotes, you can check the quotes offered here to help.
Does One Require Insurance to Drive A Used Car Off the Lot?
In South Africa, you’ll need insurance to drive a used vehicle off the lot if you’ve financed the car.
However, you need to ensure that you consider having insurance anyway so that in case you drive it off the lot, your insurance company can help you cater for all costs if you get an accident or if the car is stolen. It’s the responsible thing to do.
How Do You Get Auto Insurance for the First Time?
If you’re getting auto insurance for the very first time, you’ll need to do your homework on the requirements for coverage in your specific state as well as the other extra forms or car insurance that are available to you.
Since you don’t have any other comparison, you might benefit from shopping around between several car insurance companies to ensure that you’re getting the best rate possible for your auto insurance policy.
Since your auto insurance rates might be a bit higher than what seasoned drivers pay, you’ll want to consider seeking out as many discounts as possible that apply to you.
When you’re thinking about the ideal insurance coverage for you, it’s vital to remember that the state minimum coverage might not be adequate to cover all the damages in the event of an accident.
As a new driver, it would also be advisable to explore the option of being added as an additional driver on your parent’s e policy because it could earn you a lower rate for car insurance.
Can You Get Auto Insurance Without A Driver’s License?
You can’t get auto insurance without a driver’s license in South Africa. Not only is it illegal to operate a vehicle without a valid driver’s license, but the amount of time you’ve has your driver license for, is one of the essential factors that help determine your premiums.
What Is Car Insurance Coverage?
It’s a plan that vehicle owners to mitigate expenses linked with getting into a car accident.
Rather than paying out-of-pocket for auto accidents, most people pay annual premiums to a car insurance firm – the company then pays all or most of the costs associated with the accident or other vehicle damage.
There are several forms of car insurance coverage; nevertheless, while most are non-compulsory, specific coverages are generally required by law.
Most countries, including South Africa, require drivers to buy a minimum amount of liability insurance coverage, which caters for the injuries and property damage that you cause to others in case of an accident.
Does Car Insurance Affect Your Credit?
No, auto insurance isn’t a credit application, so while insurance firms check your credit score to determine your responsibility and financial security, they’re not extending credit.
A credit check when it comes to auto insurance quote is referred to as a “soft pull” and it doesn’t have an impact on your credit rating.
Does Car Insurance Cover You If You Hit Your Car?
If you hit one of your vehicles while driving another of your cars, liability insurance won’t cover you for the damage. It only covers the damages to any party or parties in an accident you cause.
Nonetheless, collision coverage will help cater for the damages to your car if you choose to buy it.
Does Auto Insurance Cover A Hit and Run?
Car insurance policies can help safeguard you if you’ve been hurt or your vehicle has been damaged in a hit or run incident. Collision coverage can assist in catering to the vehicle repairs after a hit and run.
Uninsured and underinsured motorist coverage and medical expenses coverage can assist in covering your medical bills after a hit-and-run.
Can You Get Insurance if You Don’t Own A Car?
Yes, you can. Most auto insurance firms provide you with non-owner auto insurance policies.
These policies don’t cater to the collision or comprehensive coverage, but they provide you with typical liability coverage, and they might let you add medical and underinsured motorist protection.
If you don’t possess your vehicle but still drive regularly, either by borrowing vehicles or renting cars, non-owner auto insurance can be a reasonably-priced option.
More Common Questions
What Are the Five Best Auto Insurance Companies?
The best car insurance companies in South Africa include:
- AA Insurance
- Dial Direct
What’s Car Insurance?
It’s typically a deal you make with an insurance firm that safeguards you if you get into an accident.
You pay a specific amount of capital each month, and the insurance company undertakes to cater to the repairs you cause to other people’s vehicles and property during an accident and to your car.
Can You Insure A Car That’s Already Insured?
Yes, you can. You can legally have more than one insurance policy for the same vehicle – nothing is stopping you from doing it. Moreover, you can take out a second auto insurance policy when you already have one.
It won’t mean that the first motor insurance policy is void.
What Are the Different Types of Car Insurance?
There are several forms of auto insurance. However, the three main one includes the:
- Third-Party Insurance – it caters to the damage to other people’s property or compensation or costs associated with injuries they endure, in an incident adjudged to be the fault of the covered driver.
- Third-Party, Fire and Theft – safeguards you against loss or damage to your vehicle caused in an accident, by fire or through theft.
- Comprehensive Car Insurance – it’s a form of insurance that protects you from natural disasters like fire, floods, hailstorms, among others