Save a bit extra on your car insurance premiums every year with these smart tips

Death, taxes and having car insurance is one of life’s many certainties. The latter is vital if you’re a daily road user because, unfortunately, accidents can happen in the blink of an eye, and damages can often cost eyewatering sums.

The truth is that while you may obey the rules of the road to a tee, you cannot control the actions of other road users. Jumping a red light at the robot and texting while driving is significant contributors to serious accidents where, unfortunately, fatalities can occur.

With the onset of the hard lockdown, car insurance was one of the first things to be cut from the monthly budget as many people faced job or salary cuts. Fortunately, lockdown restrictions have been generously eased with day-to-day operations and lives seemingly getting back on track.

Weighing up

A car insurance premium is put together for the client based on a number of factors like age, vehicle type or the purpose it is used for. All vehicles purchased with the help of bank finance have to be insured before it leaves the showroom to cover both parties if anything should happen.

The newer the vehicle, the more one can expect to pay per month. Models like the Volkswagen Polo and Golf GTI, for example, or considered high risk in South Africa, so the premium would automatically be very close or exceed the R1 000 mark.

Gumtree lists a few ways in which to save some money where your car insurance is concerned:

Policy evaluation

Contact your insurance company atleast once a year and ask for your policy to be reevaluated. They would instead give you a reduced premium as opposed to losing you altogether. In addition, because your car depreciates every year, companies are supposed to adjust your premiums accordingly, but sometimes they don’t.

Consider extras you need (or don’t)

Insurance companies have an ingenious way of throwing all kinds of incentives in your face and making it sound tantalising. While some things might be nice to have, it adds more rands to your monthly premium. This is where you have to put your options on the table and see what works best for you and your budget.

Friendly competition

Prices generally differ from company to company, and it pays to do some good old-fashioned internet shopping. It is also smart to pit companies against one another.

Now that you’ve got the knowledge, it’s time to shop! Head to gumtree.co.za or your Gumtree app (click for Apple & Android) and don’t forget to use your location settings to find local service information close to home.

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