Car insurance is a product that you pay a monthly premium for. If a product provided by a particular insurer is not meeting your personal requirements, you could consider switching your car insurance in 2021.
The first step is to understand your current policy 1,2
How could you select a better alternative car insurance policy when you don’t know much about your current one? You could draw up a table with all the boxes that need to be ticked setting out everything that you need in a car insurance policy. Once you have understood your current policy, you can tick those boxes that fulfil your requirements. Those boxes that are blank are your needs that your current policy is not meeting. In other words, the new policy should meet all the existing ticked boxes and those blank ones. You could also consult an independent and experienced car insurance agent who can provide some additional, professional advice.
Comparing apples with apples 1
Now that you know what you require from a car insurance policy, you can start to compare quotes supplied by different car insurers. You might not be able to compare quotes if you do not present to each insurer the same requirements. Compare, for example, premiums and excesses, and how they fit in with all the benefits. And don’t forget to understand the exclusions found in the small print. You can also obtain and compare multiple quotes from companies that have access to many car insurers at once.
Conduct research on the new car insurer 1,2
Any decision is less risky when it is a fully informed one. It’s best to find out all you can about the new prospective insurer. Consult websites that provide customer reviews about various insurers. It may be that a company’s claim procedure is time-consuming and complicated, something that you would like to avoid. You can confirm your findings with the South Africa Insurance Association (SAIA). It might not all be about low premiums.
Consult your current insurer first 1
Making a switch could be more disruptive than anticipated. Before you take the big step, meet with your current insurer, and see if they would be willing to address your additional needs. Start to make the switch once you are satisfied; you may not end up switching anyway. Should you decide to proceed with another insurer, find out from the current insurer exactly how to terminate the policy to avoid future billing issues.
Disclaimer
Car insurance is complicated, and for this reason, this article should only be considered as information. It is highly recommended you contact a certified, financial advisor for professional advice to purchase a car insurance product.
In your search for comparing car insurance quotes, why not contact Prime South Africa for affordable car insurance that comes with unique benefits such as premiums that never increase?* T and Cs apply.
Sources:
