MOTOR INSURANCE
You need motor insurance
The position motor insurance takes on your budget sheet has
changed over the last couple of years; moving right up from
the nice-to-have no. 30 spot to one of the non-negotiable
top 5 positions on the budget. In the past you paid your motor
insurance if and when your budget allowed it. Now you cannot
think of financing your car without first obtaining cover.
What does it entail? How do you get the best cover without
breaking the bank and why the big fuss over this type of protection?
Why you need motor insurance
Statistics released by SAPD on vehicle hijackings, between
April 2005 and March 2006, came to a staggering total of 12
825 motor vehicles being hijacked. The number of fatal vehicle
accidents increased from 3481 in the first quarter of 2005,
to 3568 for the same period in 2006, according to road safety
statistics released by Road Traffic Management Corporation.
If you should become one of these statistics it will mean
that you no longer have your vehicle in your possession. More
frightening - you most probably still owe an unpleasant amount
of money on your car. The vehicle that was once your pride
and joy, can no longer get you from point A to B, even if
you do still make your monthly payments right on time. Without
considering normal day to day crime figures, these facts alone,
should explain why motor insurance now form part of your basic
needs.
You also need to consider the fact that you might be the
cause of an accident, in which case you are liable to pay
the damage of the other parties as well as repairing costs
for your vehicle. Other costs that you would need to consider
are medical expenses, accommodation and car hire costs. Without
motor insurance an accident can turn into a financial burden.
It can be an essential, but costly expense. Not having it
when you need it can however, cost a lot more.
Motor insurance considerations
Take your time and start the process of selecting vehicle
cover by writing down what your needs are. Consider different
scenarios:
- In the unfortunate event of someone breaking into your
car right at this very moment: Will he or she be able to
remove objects from the vehicle for instance, you sunglasses,
laptop, or car radio? These are items that can be specified
on your insurance policy.
- Consider your financial position and the affordability
of a specific cover. Will it be possible for you to operate
without your vehicle for a week or longer in the instance
where you are involved in a collision, or do you need to
consider a car rental option?
- Third Party insurance is always a necessity you need
to consider.
- Will you use your car for business as well as pleasure?
- Are there any other designated drivers your need to specify?
You also need to select a vehicle insurer. Selecting a zero
commission insurance broker, like Redisure rather than a direct
insurer, provides several benefits:
- The broker represents the client and thus has an obligation
towards the client to provide objective advice on available
policies.
- As a broker, Redisure is not focussed on the products
and services of only one insurer, but is committed to finding
the best policies at the most affordable rates for clients.
- Unlike normal brokers, Redisure doesn’t work on
commission and only charges a flat fee for services. This
means lower premiums for you.
- As a zero commission broker, Redisure does not benefit
from high premiums and products that you have no need for.
Your interests are the number one priority with Redisure.
Keep deductibles in mind
You should decide what level of excess payment you can afford.
If you have an accident free driving record, you may consider
a larger excess together with lower monthly premiums.
With Redisure getting motor insurance is a breeze. You can
either contact the call centre or complete the online questionnaire
to receive a free no obligation quote.
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