Whenever you get behind the wheel of a motorcar you are faced with the possible risk of causing damage to your own or another person’s property, and injuring or even killing yourself, other drivers, passengers or pedestrians.
Car insurance also known as auto insurance, vehicle insurance and motor insurance is purchased for all types of automobiles including cars, bakkies, minibuses and trucks. Car insurance provides financial cover against damage or loss caused to an insured vehicle that occurs due to a fire, theft or accident. Auto insurance also provides cover for financial liability against damage caused to someone else’s property, and injury to, or death of another person in the event of a car accident.
Most people don’t have cash available to pay for the losses or liability that can result from driving. Car insurance protects you and your family against claims that can leave you in financial ruin. In exchange for a monthly premium, car insurance companies agree to take on the risk to protect you in the event of an accident. Car insurance companies also protect your wealth by settling any loss or liability that may result from driving.
In South Africa there is no mandatory insurance regulation that requires all drivers to have car insurance unless the vehicle is still being financed by a financial institution. However, the benefits of auto insurance will always outweigh the costs when you need it. There are many companies offering online car insurance in South Africa with different levels of cover. In general the benefits of motor insurance include the following:
Liability cover – covers legal costs, damage claims and personal injury claims filed against you if you damage another person’s property, kill or injure someone with your vehicle and you are found to be at fault.
Uninsured automotive coverage – protects you against expenses incurred as a result of a vehicle accident that is caused by another individual who is uninsured.
Theft coverage – covers the costs of repair or replacement of a vehicle that is damaged or stolen because of hijacking, theft or attempted theft.
Accident repair coverage – covers the cost of repairs to your motor vehicle damage due to a collision with other vehicles, objects, or even persons. It also covers the repairs to someone else’s automobile damaged in a collision which is your fault.
Because vehicle insurance companies have similar products it is often difficult to decide which one to choose. Here are some of the benefits you get with online car insurance quotes and cover from PSG:
Car insurance quotes – The PSG Online auto insurance quote system gives you several car insurance quotes from different insurance companies. You can then compare and select the car insurance quote that provides the right cover for your budget.
Low Cost – We add value to short-term insurance through products, tariffs and low excess structures that are unique to us and very competitive in the marketplace.
Policy management – You can manage your car insurance policy, print out proof of coverage, and view or manage your online bills through the PSG platform.
Accessibility – Your car insurance details are accessible online so you have 24/7 service when you need it. In addition, our PSG Konsult broker support network which exceeds 250 branches countrywide network that exceeds 250 branches countrywide supports can offer a wide variety of additional products and other financial services.
Online car insurance claims – The PSG platform lets you file a claim online and even follow it up online. You will also receive access to and expert team providing technical underwriting and claims advice for your car insurance.
Convenience – We support you in every aspect of the process from the conclusion of your application to the maintenance, from regular reappraisal which improves competitiveness to car insurance claims of all sizes.
Rewards – You will earn rewards whether you claim or not.
Free Assistance – As a PSG short term insurance policy holder on your vehicle you will qualify for free emergency roadside assist.
Before you accept a car insurance quote, make sure you understand insurance terminology so you can ask your insurance broker questions.
Car insurance premiums, like all insurance premiums, are determined based on risk and are calculated to reflect the probability that you will make a claim. Those who are unlikely to claim will have lower premiums than those more likely to make a claim.
Car insurance companies take many factors into consideration to determine the likelihood that you will make a claim. The factors car insurance companies use to determine premiums include: where you live, the type of vehicle you drive, whether your motorcar is for business or personal use, your driving record or claims history, your statistical group and other factors.
The good thing about car insurance companies in South Africa is that there are basically three types of insurance to choose from. PSG Online offers flexible automobile insurance through various car insurance companies to cover losses such as theft, accident and third party liability.
Car insurance companies provide the following cover:
Third party car insurance – Is the cheapest of the three and provides cover for any damage you may cause to other vehicles, and the accidental death or injuries of a third party caused by you in an accident. This does not cover you against the loss of, or damage to your own vehicle.
Third party, fire and theft car insurance – This covers against damage, death or injury to a third party caused by you in an accident. This also includes compensation for loss due to attempted theft, theft or hijacking of your automobile, and damage to your vehicle that was caused by fire, lightning or an explosion.
Comprehensive car insurance – This covers just about any risk your car is going to be exposed to, regardless of whether it is parked or in motion. Comprehensive also includes roadside assistance, medical assistance, towing and storage depending on the type of comprehensive cover you choose.
Additional options that can be added to your motor insurance policy include car hire and cover for non-standard sound systems or other car accessories.
Regardless of which car insurance policy you choose, make a point of reading and understanding the inclusions and exclusions. Fortunately, car insurance companies in South Africa are very diligent in their disclosures. Should you have any questions while working through the various clauses, ask your broker for clarification before making a final commitment.
source: http://www.psgonline.co.za/insure/car-insurance.php
Car Insurance Quotes From Different Insurance Companies
Important Factors When Purchasing Car Insurance – Insurance – Auto
We get lost in the middle of numerous offers in the market on car insurance. The web alone is overloaded with sites offering particular insurance carriers. Quotes are being provided online for free to entice potential customers to check into the offer more seriously.
The insurance company
The history of the insurer is important. It’s like purchasing stocks that you need to check out the profile of the company and its present standing. With the present economic status, it’s not remote that insurance carriers might go bankrupt. You obviously don’t like the situation where you need to go further by filing claims against your insurance company later on.
Additionally remember that the same set of coverage might be quoted in a range of variances from one company to a different one. Usually, this is affected by the financial factors which are peculiar to every particular company.
The Insurance Policy
Cautiously look at the policy that is offered to you. At a glance, policies from different companies might appear an identical and you might even notice some words which are similar. It is because to the fact that underwriters are following a pro formal guide when forming the policy. Check on the individual terms of the policy and determine if that meets your requirement.
What is covered and what is not
While you might not fully understand all the legal implications of the wordings of your policy, you have to exert an effort to understand what perils or conditions are covered by the policy that you’re going to purchase. Simply, what is not specifically included is deemed excluded in the coverage. Don’t presume that a certain situation is protected by a related provision in the policy. Make sure to make clarifications when you have questions.
What negates your insurance claim
Prior to deciding to purchase specific car insurance, make sure to fully understand what the conditions are whenever you incurred loss because of any sort of accident yet, you might not recover anything. It is crucial because the very reason why you’re purchasing car insurance is to be reimbursed whenever you have loss or damage.
Losing control of your automobile because you are drunk might result to the denial of your claim even when you have incurred a total wreck.
How to Get Cheap Car Insurance in Any Town
Get Cheap Car insurance
Are you seeking ways to get cheap car insurance? Everyone is trying to cut corners due to the economic downturn, and car insurance is a large part of anyone’s budget.
The dilemma is how cheap is defined; the dictionary will give you two options. Cheap can mean having a surprising low cost for the product or service obtained, or it can mean a product that is low-quality and inferior.
Your goal should be to obtain the best quality insurance coverage you can find at the lowest possible price. The alternative can leave you in a real bad situation.
If you purchase a poor policy that has inadequate coverage, you can end up financially ruined. That policy will not turn out to be a savings!
The most important step in knowing how to get cheap car insurance is to do comparison shopping. You would not think of purchasing a refrigerator without checking for the best options available at the best price. The same applies to insuring your automobile. How do you do this? You could call several agencies or go in person; some people prefer to do business this way. The alternative more and more people are using is to get online and get several quotes. You can just search “car insurance quotes” or you can be more specific and search for “car insurance quotes Cleveland” or the name of your town. Just remember to compare apples to apples, not just focusing on the price, but the policy details.
Consider the deductible involved: a higher deductible usually means you get a slightly lower premium. The downside is that at the time of an accident, you must have access to that cash immediately, especially if someone else’s vehicle is involved or if your vehicle is under lien.
Liability coverage is one area where you want to tip-toe. You don’t want to ever be caught with inadequate coverage. Most states have required amounts you have to carry, but that may not be enough.
In a split second that it takes you to look off the road, you could cause an accident. Just hospital bills for someone you injured could mount up to an exorbitant amount. And, you must consider the unpleasant possibility of a lawsuit. Notice how many law offices there are in your town; they are not operating solely for divorce cases!
While you certainly don’t want to pay for unnecessary coverage, you need to be SURE you are adequately protected. Here is the Most IMPORTANT part of any policy quote you consider when trying to get cheap auto insurance.
I am not an insurance professional, but I have worked as a legal secretary. I do know that this is one area where trying to save money the wrong way could ruin the rest of your life. If you don’t have the money when they sue you, it will be garnisheed out of your salary forever!
Ask lots of questions to friends and family about their liability coverage. Ask insurance professionals and find out what level of liability coverage you should get, if you are unsure. Having a good driving record will help you get cheap car insurance. Be sure all records are correctly expunged at the right time, if you have had a few marks against you.
It is helpful if anyone on your policy takes approved drivers education courses, especially drivers under 25 and any drivers with some past problems that are causing higher rates. Take any driver schools available for folks with speeding tickets, whether the court orders it or not. Usually, if the margin of speeding is great or reckless driving is involved, the judge will require it.
If you have younger drivers, it is important that you document their good grades, if they have them. This will often help you get cheap car insurance. Also, you can cover them to just drive one vehicle, if desired, but be sure that they don’t drive the other vehicles uninsured. I would be quite careful with that option.
Think ahead about those sports cars; check what the rating of a vehicle is before you purchase it. Some cars are speed demons, causing the calmest of individuals to rev their engines! Some vehicles are a car thief’ s choice. Others are classics with very high cost replacement parts. consider all of these issues before purchase, if possible!
This next option sounds really bizarre, but clean up your credit rating. Check for errors. Automobile insurance companies are checking credit more and more, especially since so much of this is done online, now. This will effect your ability to get cheap insurance.
Tips & Warnings
JUST BE SURE, you get adequate coverage, or you could be regretting that cheap car insurance the rest of your life.