Everybody wants the best cover possible for their vehicle but is there really a company that is offering the best car insurance in the South African market? As with any product or service, you get what you pay for and car insurance is no different. The reality is that that there are handful of car insurance companies in South Africa that are pretty much offering the same type of policies for around the same price.
No single provider can claim to offer a better car insurance cover than others although some companies may throw in a few additional extras for a lower price. Before you sign up for a car insurance that seems to be offering the maximum benefits for the lowest price, do not be too quick to think that you are buying the best car insurance cover in South Africa. First compare it objectively to other policies on the market. Secondly look at the reputability of the car insurance company.
Which is the best car insurance?
The best car insurance for you is highly subjective. It should be car insurance that you can afford. It should provide the benefits that will best protect you. And it should have a no-hassle claim procedure. The two factors that you need to consider when deciding upon which is the best car insurance is to first consider how much you can afford to pay for cover and then how much of cover your car really needs.
If you cannot afford to pay for car insurance consistently every month, then it is obviously not the best benefit for you. If you are looking at high end cover for a car that is not worth it, then you are essentially wasting money which most definitely does not make it the best car insurance for you. Be realistic at what you can afford and what you want, or what you car should be covered for in event of accident damage or loss of vehicle.
Best Value for Your Vehicle
Having comprehensive car insurance for your vehicle is obviously one of the best options. It basically covers you for most eventualities. And comprehensive cover is obviously the most expensive car insurance policies available. But does it offer everything that you expect? Everybody wants to save on car insurance, even people who are not financially restricted but it does not make sense to pay for expensive cover when it is not warranted.
One of the main problems in this regards is that many policy holders never look at how their car value has changed year on year. In fact your vehicle value is changing much more frequently than once a year. By insuring your car at the same value that you bought it for, and many years have passed, you are essentially buying expensive cover for a car that is no longer worth the same value.
Car insurance premiums increase every year but your car value diminishes every year. And car insurance companies are not going to reimburse you for the replacement of a brand new vehicle down the line. Ensure that you alter the insured value of your vehicle to market-related replacement value for a vehicle of its age. Otherwise you may find that you are paying car insurance for cover of R250,000 for a car that is only worth R150,000 two to three years down the line.
You need to find the best value for your vehicle car insurance in order to be getting the best car insurance. This means being consumer-wise when purchasing and maintaining existing cover.
Best Benefits on Car Insurance
The next factor that you have to look at when searching for the best car insurance is the benefits of your policy. Do you have car hire cover? What about personal liability? Is your car insurance providing roadside assistance if you do not have any? These little benefits can make an otherwise standard policy into the best car insurance cover for you. The best benefits are those that make your life convenient and keep you covered when you need it the most.
Although most of us would like to trim the non-essentials in a bid to get the cheapest car insurance, you may find that you can get a better deal from you cover by taking it with your policy. The best car insurance cover in South Africa is one that covers you for all the major incidents that you could experience – vehicle theft, hijacking and accident. These are common occurrences in South Africa, at least more common in many other countries. The best car insurance for your will firstly cover you fully in these situations and then throw in the additional benefits.