How to save 5% on your car insurance
More than 75% of South Africans do not have car insurance, which is largely attributed to high costs. But Jeff Osborne, Automotive Head for Gumtree SA, says that there are a few things to be mindful of that will drop your premium – making it more affordable but ensuring the same cover.
- Limit the amount of people covered: unless you regularly have more than one driver, avoid putting too many people on your coverage plan. Naming more people, increases your premium as well as your excess amount.
- Secure your car: fitting an alarm, immobiliser or tracking device can bring your premium down by around 5%.
- Drive fewer kilometres: the fewer kilometres on the clock, the lower your monthly premium.
- Safety comes first: if your car is parked in a secure space at home and/or work, it will drop your premium tremendously.
- Buy online: some insurers offer a 5% discount for online transactions.
- Pay a lump sum where possible: paying a monthly premium seems more manageable, but paying a lump sum is likely to save you between 10-25% in the long run.
“When seeking car insurance, be sure to choose not only the insurer that covers you and your vehicle best but offers a premium and excess that suits you,” concludes Osborne. The key to saving is not about the discounts but, rather the overall price and the excess you’ll need to pay in case of an accident.
Also read: 8 clever ways to save on your car service
Source: Gumtree SA