Here are the top 3 mistakes people make when buying car insurance
Car insurance is a necessity in this day and age. You never know what could happen and when you will need it, but much like buying a car, you can make mistakes when buying car insurance.
We talked to Yolande van Wyk, an insurance broker at Blueline Independent, who tells us what the major mistakes people tend to make when they buy car insurance:
1. People take out ”motor only” insurance and think this is a cheaper option. It is in fact far more expensive to insure a car only. ”Most of the car only policies that I do comparative quotes on are cheaper if I quote on car and household insurance”, says Yolande.
2. An excess payment for most companies are a percentage of the claim or a minimum x amount. This poses a problem when you have a big claim. ”One company states they have no excess for claims over R4 600. In other words their excess is R4600!”, says Yolande.
3. The third and last mistake people make is that they don’t read the fine print and end up having problems with their insurance contract. There are a lot of pits and falls in the contract that people aren’t aware of. You can avoid this by always reading the fine print and asking for second opinions.
(Source: Yolande van Wyk, [email protected])