When switching to or taking out a car insurance policy, the insurance company would generally dictate your premium, based on different aspects, such as – but not restricted to – your address, age, gender and driving tendencies.
However, as much as these aspects are vital, whether you are switching or taking out car insurance, many drivers don’t realise that a higher or lower premium can be determined by the type of car they drive.
#1 Vehicles with safety features: An easy way to lower your car insurance costs is to maintain a good safety ranking – safe driving practices. A vehicle that is supplied with safety features is hardly involved in an car accident; which means there’s a slight chance to claim on your car insurance for any damage. Ensure that your vehicle has safety features – whether you’re switching to another insurance policy or taking out one.
#2 Larger cars: Some drivers believe that the smaller the vehicle, less the car insurance premium. But on the contrary, hatchbacks have been regarded as high accident risks – causing much more damage due to minimal protection. Opt-in for a larger car, such as a Honda Civic or Volvo XC90. Not only will you obtain high safety ratings, but also score yourself a lower insurance rate. On the other hand, it will be much more expensive to replace a minivan – contact your insurer about your available car insurance options.
#3 Old age and affordable models: Driver’s insurance premiums generally depend on the car make, model and price. Luxury cars, such as Mercedes-Benz and Bentley, are usually very costly to repair. With that being said, you may need really good insurance coverage to pay for those extra costs. Think it through and thoroughly consider the car most suitable for your budget.
#4 Vehicles with low theft possibility: It’s quite obvious – when you drive one of the country least stolen car brand, you could anticipate to pay a smaller amount for car insurance. Statistically, South Africa’s most recent stolen car brands are Corolla, Toyota’s Hilux, HiAce, Fortuner, Venture and Nissan. To avoid becoming a car hijack victim, ensure you purchase the least popular targets. Bearing in mind, the higher the hijacking rate of your car, the more likely you will pay for your car insurance premiums. Retain road safety and get an anti-theft device for your vehicle. This could lower your insurance premium.
#5 Purchase a car manufactured within the country: Cars manufactured locally are commonly know to be the least complicated to maintain – spare parts are usually easy-peasy to find. As a result, you may be eligible to receive a lower insurance range; however, on condition that you’re covered under a comprehensive car insurance plan. But, if you only have third-party insurance, it will be your duty to repair the other driver’s damaged car.
Always find out the right procedure to follow with your car insurance, as each and every insurance company has its own rules and regulations about car insurance premiums.
You’ve probably gone ahead and made a few mental calculations already. If that’s the case, do you really need a car? Perhaps it’s time to make some budget-cuts, save money and sell your used car. Whether your car is financed or not, at CarZar, we buy cars for cash instantly! On www.carzar.co.za you can get a free instant online quote for your car and sell your car in just 30 minutes.
All you need to do is:
STEP 1: Select your car details and receive your free online quote instantly.
STEP 2: Book an obligation-free inspection at any one of our Car Buying Centres in Cape Town or Johannesburg; or at your preferred location in Cape Town, Johannesburg, Durban or Port Elizabeth.
STEP 3: Accept our final cash offer and receive instant payment! We also take care of all the paperwork for you.
Send a WhatsApp message with the word “Quote” to 087 470 0436 and receive a free quote for your car.
With CarZar, you can sell your car in 30 minutes!