For a lot of persons, buying insurance is a job they accept not because they like to but simply because they really need to. In certain countries like the UK, for instance, it’s mandatory by law for automobiles to become covered with insurance even though this is not yet the case in South Africa, it’s simply too risky to drive around without it. Automobile coverage is almost certainly necessary right now and a thing that’s certainly risky to forgo.
For starters, there is the chance of being involved in a car collision or having your car stolen or hi-jacked. What’s more, considering the accounts of hailstones as large as golf balls causing damage in Gauteng not too long ago, there’s a lot more than an outside likelihood that your car could be at risk of getting damaged due to adverse weather conditions as well. At minimum, you should be insuring your car for so-called ‘third party, fire and theft’ coverage but comprehensive insurance is even better if you can afford it.
Even so, in spite of the fact that car protection is a basic need it can nonetheless be a difficult pill to swallow when you do not drive much. If you’re a retired person or somebody who works from home then you may have landed in the unenviable position of being forced to fork out a lot more for your auto insurance than you would like. Thus if you haven’t already been researching ways to lower your automobile insurance premiums then it would be wise to start now because you could possibly save some bucks. For more information on car insurance estimates, go to http://www.payasyoudrive.co.za.
On the whole, if your automobile is insured for market value then you need to be re-looking at your automobile insurance policy on an annual basis regardless of whether you do a great deal of motoring or not. The reason being an automobile is a diminishing asset hence its worth will probably decrease with every passing calendar year. It’s highly unlikely that your automobile insurance carrier will automatically modify your insurance policy in line with your car’s yearly decrease in value on your behalf, which means you’re going to need to call them up and instruct them to do it. By doing this, it is possible to potentially lower your monthly premium rate a little bit.
Another way to reduce your month-to-month premium is to increase the excess. On the other hand, this means you might be liable to shell out an excessively high amount of excess if you happen to need to put in a claim from your motor vehicle insurance policy further down the line. Furthermore, you’ll either need to be extremely self-disciplined and put money aside to cover the high excess or else be ready to survive on bread and water should you need to submit a claim sometime in the future.
People who don’t drive a great deal, though, have got the extra advantage of being able to get coverage at a lower rate because they can sign up for what is commonly referred to as ‘pay as you go’ or Pay As You Drive cover. This sort of cover has all the benefits of comprehensive insurance, only at a lower rate, as the insurance holder only pays for the amount of kms they travel in a given thirty day period.