subject: Are You Currently Covered Enough With All Your Car Insurance? [print this page] Are You Currently Covered Enough With All Your Car Insurance?
It is a fact of life that, in South Africa, we need to take good care of our own cars because we don't possess the highly reliable trains and buses system a number of other countries have. If you want to travel between cities or perhaps within cities you need your own transport of some kind. An integral part of caring for your vehicle is taking out car insurance for it.
Car insurance is vital. It is there to help you repair your car should it be damaged within an accident or by some unscrupulous thief or vandal. No vehicle in South Africa should be lacking car insurance. But how do you know if you have enough car insurance?
One of many deciding factors is your pocket. The more you have to invest in car insurance the better, at least for most cars. Car insurance is a little like a bit of string, just how much it costs varies from policy to policy and also from insurance company to insurance company. The principle idea is to obtain as much as you can for your budget.
The next factor is the value of the car. The newer the vehicle, the more insurance you should have. In the event the car is written off during an accident you want to be capable of geting the value of the car from the insurance company so that you can finish paying off your banker and buy yourself a new car. If you don't have sufficient insurance to cover this, then you may end up settling a loan for a vehicle you don't own as well as for its replacement.
It's a wise decision to do a lot of research in order to find a number of car insurance quotes coming from a handful of different insurance companies. You can then compare these and find out which one will give you best value for money. You need to look at what value they put on your vehicle and what damages are contained in the policy documents. The more damage they cover and also the higher they put the valuation on your car, the better. This means that you are covered for more if the vehicle is actually written off and if the vehicle is damaged somehow.
You can make these a little cheaper by adding things like alarms and also tracking systems on your car. This decreases the chance of your vehicle getting lost and broken into which means the insurance company is less likely to have to pay out for the claim.
Take a moment to look around and find a car insurance policy that matches both your pocket and your needs. True, you might want to compromise a little on both counts by taking just a little less than you wanted for a little more than you budgeted, but at least if things go haywire you will be covered and capable of getting back on the road quickly. Whether that is sufficient car insurance in your case or not is a matter of opinion.
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