Whatshot
Motor insurance tips
Motor insurance tips
Many people find the insurance aspect of securing their vehicle against theft, loss or damage overwhelming as there are so many variations of cover and costs available. "Without the financial experience of what insurance is all about, a D-I-Y approach is challenging when trying to figure out why the quotes you receive vary so radically in premium price, what's covered and more crucially what is not covered, what the terms and conditions of the cover are, if any exclusions exist and why, and how much your excess will be - the cash sum you are liable for upfront if and when you need to claim," explains Mandy Barrett of insurance brokerage Aon South Africa.
It's one of the reasons why getting independent and impartial advice from a professional broker is the very best financial decision you can make to ensure that your car and any extras are properly insured, and that you won't face any nasty surprises should you need to claim. "The true value of broker really comes to bear when you have a complex claim or a dispute with an insurer," says Mandy. "A professional broker will intervene on your behalf to handle the claims negotiations and ensure you get a fair settlement."
On provides some invaluable tips that will help you when assessing your motor insurance:
Do the insurance research before you buy a vehicle - This may affect your choice of vehicle in the end when one looks at things like affordability, service costs, parts availability, required security measures and crime stats.
Personal Liability - Besides the obvious cover for accident damage and theft, your motor insurance also provides you with personal liability protection which is embedded in your policy.
Don't assume you are covered for everything - Certain events are not always automatically covered on a standard motor vehicle insurance agreement to bring down costs, and such covers may need to be purchased at an additional premium - typically items such as scratch and dent cover, tyre cover, hail damage cover and so on.