How To Save On Your Monthly Car Insurance Premium

By Author: Andries Malan
Total Articles: 15
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What with escalating interest rates and the cost of living becoming just that bit more expensive, we all need to do what we can to reduce our costs.Below is a handy set of tips designed to help you reduce your insurance premium, as well as lowering your cost of living:

1) Request higher excesses.

Your Excess is the balance owed after the insurance has paid for damages. By requesting a higher excess, you can significantly lower your monthly premium. Obviously in the event of an actual accident you may be up the proverbial creek without a paddle, however, depending on how much you save on a monthly basis, it could well balance out.

2) Lose the coverage you don't need.

By dropping the collision or comprehensive coverage on your old jalopy, you will save a great deal of money. Realistically, the car has already devalued to the extent that your payout is pocket change anyway. Such coverage often is not worth it because any claim you make probably won't exceed the cost of the insurance and the deductible amount.

3) Buy the cheapest car possible.

Now while this may seem like stating the obvious, ...
... you would be amazed at the amount of people in South Africa driving cars that they cannot afford. Think about it, is the admiration of your friends and family really worth eating your cereal with a fork to save money on milk? Nowadays, with crime levels being so high, a cheaper car will probably attract less attention than a flashy one.

4) Combine your policies.

Generally by combining all of your policies under one carrier, you will receive a tidy little discount. If this does not work, I recommend doing the same thing anyway, but with a different provider.

5) Ask and you shall receive

One of my friends was recently told that his insurance premium was going up approximately R100 p/m. His immediate response was to start investigating other insurance companies. After receiving several quotes, he phoned his carrier and told them he was moving. They called him back an hour later to inform him that his premium would now be R50 CHEAPER per month. While it might not seem like it, insurance companies do occasionally try to keep their clients happy.

While these may seem like trifling, useless tips, you'd be amazed at the difference they can make. Even something as simple as lift clubs can make a significant difference to your monthly budget. When it comes to saving money, you want to start small, realistically you're not going to save R10 000 a month, but by making small changes, you can go a long way towards saving a useful amount of money.
Andries Malan is the owner of http://www.quantisure.co.za, a website that offers comparitive quotes for the cost conscious cheap car insurance quote shopper in South Africa.