One of the worst errors of judgement that any driver can make when it comes to taking on a car insurance policy is to have a premium that costs a lot of money, only to discover a few days later that there is another policy that matches theirs but is much cheaper. Of course, in South Africa there are a large number of people still driving around without any kind of motor vehicle insurance. This is because, motor vehicle insurance is not mandatory in South Africa as it is in other countries around the world. Most people who are travelling around without adequate motor vehicle insurance give the explanation that the cost of the monthly or yearly premiums is too high. That can be true but on the other hand, having insurance can negate the need for costly repair bills when the worst happens and you have an accident.
There are many motor vehicle insurance companies out there who are now offering more reasonable rates for those who are looking to insure their car, but who are restricted by a tight budget. Thanks to the growing popularity of the World Wide Web, more and more insurance companies are now in a position to sell their cover online and this can also help to keep the cost of the monthly premiums down.
There are certain groups who are going to find that their insurance quotes are fairly high and these include, drivers under the age of 25 and those drivers who are deemed to be of poor standard. Both of those groups can expect to pay more for their monthly premiums than older drivers and those who have had very few or no accidents at all.
When it comes to cheap car insurance in South Africa, there are one or two things that you can do to lower the amount of money that you can expect to pay each month. For example, as with most other kinds of insurance, you will be expected to pay an “excess”. The excess is the amount of money that you will be expected to pay towards the cost of repairing your motor vehicle should you have an accident. Only when you have paid this excess will the insurance company then payout and cover the rest of the repair bill. By setting your excess to a higher amount when you first take out the car insurance policy, you will find that this lowers the amount you are expected to pay towards the premium each month.
Another way to reduce your monthly payments is to negotiate with your existing insurance provider if you already have one. If you have had an insurance policy for a long time with the same company and not made a claim, you are in a good position to negotiate a special reduced rate when your policy is up for renewal. Threatening to leave them for another company that can provide the same cover for less will usually spur your existing insurance company to match that offer in order to keep you as a customer.