Car insurance is necessary but can feel like an unnecessary extra amount coming off your account each month. Here’s a handy guide to getting better priced car insurance.
Car insurance falls, for most people, under the ‘grudge purchase’ umbrella: you need to have it, but resent the rands coming off your account every month. Unfortunately, if you’re under 25, you might find yourself paying a pretty penny for insurance.
The reason why insurance is so high for drivers under 25 is their lack of driving experience coupled with risky driving behaviour (e.g. driving faster than the speed limit) which is quite common among younger drivers. Experts have found that drivers are more likely to have an accident within their first year of obtaining their driver’s license: more likely than at any other time in their lives. There, however, are a few tips and tricks to secure a better insurance premium - like getting some insurance quotes on two on three car models on your buying shortlist before you sign an OTP. It's very possible that the cheaper car or the one you have set your heart on, could have a 30% higher premium because it is a hijack risk for example.
The Managing Director of Alexander Forbes Insurance, Gary Dombo, provided several ways for younger drivers to improve their chances of getting a lower insurance premium. These were:
If you’re over 25 and age isn’t a factor, here are some other ways to lower your insurance premium on your car:
By following this advice, chances of getting a better insurance price are far more likely.
For more helpful advice and actionable tips about buying a car, download this helpful guide to buying a new car.