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How much is Car Insurance in South Africa? Get it right

There are many reasons for you to have car insurance: you’re covered if you have an accident and hurt yourself or someone else, you don’t have to pay out of pocket to pay for your car repairs after a crush, to name an example. You might be already familiar with these reasons, though. So, our aim today is to show you how much is car insurance in South Africa. We will talk about types of insurance, costs, and companies to help you find the best option.

How much is Car Insurance in South Africa and what Type of Insurance is Cheaper?

If you need vehicle insurance but you have a tight budget, you should consider third party insurance. Depending on the insurance company you choose, this third party insurance will have different characteristics and costs. However, it is always the most basic plan you can get, and, thus, the cheapest one.

In general terms, with this insurance you are covered if you accidentally damage someone or their property. This means that if you have an accident and hurt someone or damage their car or other property, the insurance company will pay for the expenses caused by that accident. Imagine being involved in an accident where people get hurt and not having the means to cover for medical expenses, for instance: you would be in real trouble.

However, you should bear in mind that with this level of insurance you will not be covered in the event your car is stolen or when the car that is damaged in an accident is your car. Again, some companies might offer other benefits within this third party insurance; for instance, some insurers do cover if your car is the one that got damaged. So, before opting out for one insurer, check the benefits included in their products and choose the one that provides the highest coverage.

How Full Coverage Car Insurance can be the Cheapest Option?

Have you ever heard the saying “you get what you paid for”? This means that sometimes paying less money for something can cost you more money eventually. The same happens with car insurance. If you choose for the cheapest insurance of the market and only get coverage for third party damages, you might have to pay a lot of money from your pocket to cover the costs of fixing your own car after an accident, for example.

Full coverage car insurance might have higher premiums, but you know for sure that if anything should happen to you, you will not have to pay for a single thing. For instance, if your car is stolen, your insurance covers for it. With cheaper car insurance such as third party insurance you would be left with nothing and you’d be with no other option than buying a new car. So, in the end, full coverage car insurance would be the cheapest option.

Moreover, with a full coverage car insurance you would not have to worry about a glass cracking, or hurrying up if the forecast says that hale is expected. You will lead your life with the relief of knowing that your car is covered and that your only concern should be enjoying your family.

Do Insurance Costs Vary by Car Model?

The price of your car insurance will be subject to how old or new it is, and the model of the car you want to insure, to name a few examples. Usually the newer the car is, the higher the insurance rates. The same logic applies to the car model; more expensive car models will have higher premiums.

Also, if you have been driving for many years, you will pay less in premiums, while, for instance, if you are 18 years old and just got your driver license, your insurance rates will be higher.

If you are about to buy a new car and you do not want to pay high insurance premiums, you might want to investigate a little more about which models are less expensive to insure in South Africa. Up to this time, among the cheapest cars to insure in South Africa we can find Volkswagen Golf, Toyota Tazz, Toyota Taris and Volkswagen Polo.

2 Companies in South Africa the Offer the Best Price in Vehicle Insurance

If you own a car or you just bought one, you should consider taking insurance to protect yourself, your car, and your pocket. We believe that when looking for insurance, it would be a great idea to make a cost-benefit analysis. Studying the options in order to assess which company offers the best benefits at convenient prices.

Here we want to discuss with you two options that we consider that meet these cost-benefit rule. The first company we definitely want you to know about is King Price. This company provides affordable car insurance; moreover it even offers some options that can turn their premium into one of the cheapest of the market. How? Well, unlike most companies, King Price decreases the monthly amount of premiums as your car value depreciates. Also, if you insure two cars or more, you will get important discounts on your premiums.

The second option we want to share with you is Santam. This is a company with an outstanding reputation in the insurance industry. They serve over a million policyholders; and not just individuals, but also important companies and organizations. Santam is an award-winning insurance company that will surely satisfy your insurance needs at reasonable prices.

The aim of this article was to show you that how much car insurance is in South Africa depends on many factors such as what's the car model, how long you’ve been driving or how new or old your car is. We also discussed the cheapest cars to insure, the types of insurance with lower premiums, and the ones that from a cost-benefit point of view make you save money in the long run. Moreover, we wanted to introduce you to the most reliable insurers of South Africa.

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