Every vehicle owner needs vehicle insurance, but finding the best insurance coverage to suit your needs (and your budget) may prove to be quite the quest.
Auto insurance premiums vary widely from province to province and even within cities and towns within the same province. The same person may find swings of as much as R7 000 on the cost of an annual policy.
Insurance agents are not legally obligated to tell a perspective customer about discounts which may apply to his/her insurance. There are, however, a couple of things you can do which may lead to a lower monthly premium paid for auto insurance.
The single quickest and easiest way to lower your insurance premium is to raise your premium. Having a R10 000 or even a R15 000 deductible can lower premiums 15 to 20 percent.
If you decide to follow this route, consider putting the money saved the first year into a separate account to pay the deductible in case you are involved in an accident.
Investigate auto records
Your driving record may be flawless but the record of the car model you own can also have an effect on your insurance premiums. Insurance copies compile extensive reports on the way cars respond in accidents and how popular certain cars are with thieves.
Cars with poor crash test ratings and cars that are commonly stolen cost more to insure. When considering on buying a new car use an auto buyer’s guide to compare crash test and theft rankings.
Use the same insurance company
If you own more than one vehicle, insure all of them under the same company. Almost all insurance companies offer multi-car discounts. Many companies offer further discounts if you use any other services they have to offer, such as homeowners insurance and life insurance.
Getting many quotes and comparing them is the best way to check pricing, coverage and save money. The Internet is currently the best medium to use when searching for car insurance as the premiums offered online may also save you money.
And, don’t forget, the best way to lower your car insurance premium is to drive safely. Even a speeding ticket can result in raising your insurance premium.
Please see our recommended sources for insurance quotes from multiple providers. We have done the research so you don’t have to.