Car Insurance in South Africa
With such a high incidence of car theft, hijacking and accidents on South African roads, it is sensible to take out car insurance to protect your car against a number of events.
Get clued up on your car insurance options, and stop being a fifth wheel when your friends discuss their policies.
There are mainly three types of car insurance cover available, namely Third Party Only, Third Party Fire and Theft, and Comprehensive.
Third Party Only cover includes "liability for injuries to other people, liability for damage to other people's property, liability of passengers for accidents caused by them, and liability arising from the use of a caravan or trailer, while attached to the car". Third Party Fire and Theft includes all this, but also adds cover for damage to your vehicle due to fire, and vehicle theft. Most people however choose Comprehensive cover. This type of car insurance usually includes the first two categories' cover, plus additional cover for "accidental and malicious damage to your own vehicle, a personal accident benefit, limited medical expenses, and replacement of broken glass in windscreen and windows".
Do not feel that the insurer drives a hard bargain when your car insurance premium is different from your friend's - keep in mind that premiums are calculated according to a large number of criteria, and will therefore vary between individuals. Your car insurance premium e.g. depends on the type of vehicle, the driver's age, driving record and experience, and where the car is kept. And it must drive men crazy to know that car insurance rates are generally cheaper for females because, according to statistics, female drivers are "more safety conscious, cover shorter distances, and have fewer accidents" than men!
In the event of a car accident, try and get as much immediate information as possible. Names and details of witnesses, other drivers and their insurers will make it easier for your insurer to finalise claims. Also remember to notify your insurer as soon as possible - most car insurance policies require this.
And, in conclusion, if you are planning to commit car insurance fraud by "having your car hi-jacked", think again: An investigation sparked by insurance claims from clients who were hijacked after advertising their vehicles in Auto Trader, led to the arrest of three people involved in a hijacking syndicate. A new central database set up by the insurance industry has also spotted that hijacking syndicates follow a pattern of waiting a couple of days before reporting the theft of their vehicles. This gives the syndicate enough time to get the vehicle across the border. Fortunately, for these cases special liaison mechanisms have been set up with border police.
Remember, nothing can put a spoke in an informed car insurance policyholder's wheel! Get your own car insurance quote today!