uApply talks Car insurance
We talk about some points you may not have known about and really should do. We also have some great tips from those within the industry. It’s time to get the cover that suits you.
Three things you didn’t know about car insurance
1. If the insurance company feels that you drove recklessly (skipped a robot or ignored a sign, for example), they may not pay out. There is a clause called ‘failure to take care’ that they might use against you – so ensure you are a safe, alert driver, to avoid this one.
2. When you plan on using your car for business purposes, make sure you specify this in your insurance. Reason being – if you end up in an accident, and your car was only specified as being used for personal use – your insurer won’t pay up. So be honest when filling in your form.
3. If your car was stolen and the insurance company finds that you didn’t do enough to secure your car – they might also not pay out. Securing your car could include something basic such as locking your car, but could also pertain to whether your car was in a garage, had a gear lock or similar device and was parked in a safe area. Be sure to keep your car as secure as you can, to avoid getting into insurance trouble.
Three car insurance tips
1. Review your insurance. Often. As you may well know, your car depreciates the second it leaves the sales floor. But what you might forget, is that it keeps depreciating every year. This means that you might end up over-insuring your car, if you keep paying the same premium each year, as you initially did. Make sure to review your cover at least once a year.
2. Make sure you have the right cover. New cars have to have comprehensive cover, but if your car is rather old, you don’t necessarily need it. Third party, fire and theft cover might be enough for you, and if you have a ‘skedonk’ that isn’t really worth much, third party cover might be all you need to ensure you are covered should someone else be involved in the accident. Choosing less cover will definitely save you some money. Just make sure you know what your cover entails.
3. Pay a higher excess and save on your monthly repayments. By opting to pay a higher excess, should your car need repairs, you can save a significant amount on your monthly bills. Have a look at the options and consider whether you’d be able to afford the higher excess, should you be in a situation that requires it. If you answer yes – then it’s definitely the way to go.
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