Do I really need Car Insurance?
Life is expensive enough as it is, so why do I need the added expense of car insurance premiums?
When you own a car, you immediately fall into a higher risk category. You now own a valuable item that may break down, get stolen, catch fire and be involved in an accident. In order to cover your car against unfortunate events as noted above, car insurance is the answer.
Car Insurance may also save you from financial ruin if you are involved in an accident and cause injury or death to a third party or damage to third party property.
Note: When you sell your car, never cancel your insurance before the title is transferred to the new owner.
Young adults and car insurance
Young adults up to the age of 25 generally find that they pay higher car insurance premiums than older drivers and there are a few reasons for this issue. Insurance Providers state that young drivers are less experienced, more prone to speeding, DUI and reckless driving. Young drivers can counter this, by undergoing an Advanced Driver Course and keeping their driving record clean.
What does 3rd Party Insurance cover?
Third Part Liability covers accidental damages and injury to a third party and third party property by you. This is cheap insurance and excludes damage to your own car, but will help to pay for damages to third party property.
The risk of Car Theft
In South Africa, Car Insurance with theft cover is vital, especially if you take into account the high rate of hijackings and car theft portrayed in annual statistical reports.
If your car was stolen, would you be able to afford a new car right away?
Car theft is covered in both 3rd Party, Fire & Theft and Comprehensive Insurance policies.
Note: Cheap insurance is not always the best option. You may get more value for money if you take the more expensive option.
Is Medical Cover included In Car Insurance Policies?
Insurance Companies offer a generous range of insurance products, many of which cover medical cost up to specified amounts. You can buy additional insurance products in order to augment your basic car insurance policy with additional medical cover. Insurance policies also include a wide collection of benefits and essential medical assistance at no extra cost to the policy holder.
Although many countries across the world enforce laws that make car insurance compulsory, South Africa is not there yet. Legislation enforcing car insurance is on the table and all South African drivers may soon be required to get at least 3rd Party Insurance.
Be prepared when unforeseen circumstances like car theft, a car accident or fire damage to your car occur. At Budget Insurance you can tailor your insurance to your individual circumstances at a price that suits your budget.