Car insurance is there to protect you from financial loss. It may be useful to keep up to date with developments in your car insurance policy. Perhaps the present cover you have is no longer meeting your requirements.
Below are a few potential reasons why you should consider an upgrade to comprehensive car insurance.
Are you covered for everything? 1
You may be paying low premiums, but it can be detrimental to your finances when your insurer does not cover a certain part of your claim when it comes to claim time. This extra cost may be a lot more compared to the savings you made on the low premiums.
What about the cheapest car insurance? 1
The cheapest car insurance may not necessarily suit you the best and could cost a lot more in the long run. It’s good to think about In an effort to lower premiums the benefit of 24-hour roadside assistance and towing can be removed from policies, however, when the motorist do get stuck on the side of the road, the impact of that omission suddenly hits home. It may cost a lot more to privately arrange for roadside assistance and towing than the cost of having this benefit. If this type of situation happens a few times over a year, one begins to realise that the extra cost for this type of arrangement in having your vehicle privately towed is not sustainable.
Choose the insurer that suits you 1
It is prudent first to write down the benefits and other requirements you need for an upgrade. Once established, you can present the same list to different car insurers and obtain comparable quotes. If you don’t choose to upgrade with your current insurer and switch to another company, it would be best to conduct thorough research before doing so.
Upgrading from third-party car insurance 2
Let’s examine the difference and benefits if one should upgrade from third-party car insurance to comprehensive car insurance.
- What are the benefits of third-party car insurance?2
This type of cover provides third-party liability cover whereby it would cover the cost of damages sustained to a third-party in an accident up to a certain amount.
- What are the benefits of comprehensive car insurance?2
A comprehensive car insurance policy also provides third-party liability cover and the car is comprehensively covered for write-offs and accidents, including damage caused by natural fire and disaster, theft, and hijacking. There may be other benefits included as well, but these are dependent on the individual terms and conditions of each insurance company.
- Some extras offered by comprehensive car insurance2
A powerful benefit which is lacking with third-party car insurance is 24-hour roadside assistance and towing. This benefit is indispensable for South African motorists. Glass cover is provided in a comprehensive plan, including replacing accidentally damaged glass. There could also be optional extras such as a credit shortfall benefit, an accidental death benefit, and a car hire benefit.
Disclaimer
This article only provides information about car insurance. Car insurance is complex, and if you are considering purchasing car insurance, please contact a certified, financial advisor for professional advice.
Are considering an upgrade from third-party car insurance to comprehensive car insurance? Contact Prime South Africa for more information on affordable, comprehensive car insurance with unique benefits like no premium increases* and a reduce to zero excess*. T and Cs apply.
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