Shop for new car insurance very year

9 Sep 2019

There are several factors that could affect your insurance premiums, so it's smart to get a new quote every year from your current insurer. You could also take it one step further by getting a quote from another insurer to assess if you could be getting a better offering elsewhere.

It might take a bit of time and “admin”, but you could be saving money with a new or updated premium, observes Barend Smit, marketing director of MotorHappy, a supplier of motor management solutions and car insurance options.

Shopping around also empowers you with the knowledge to make better choices, and you’re more equipped to make decisions that are good for your wallet, assuming you have a decent cover.

If you’ve had any life or work changes, then let your insurer know as this could affect your cover and premiums.

For example, if you previously lived in a house with no cover and in a high crime area, and you moved to a secure complex where you park your vehicle undercover, your premiums could go down. When your situation changes and you think your premiums might go up, as a result, it might be tempting to withhold the new information, however, Smit advises consumers to always be honest with their insurance provider.

“While this might seem like an expensive factor you don’t want to disclose, it’s imperative you do in order to receive full benefits if you claim. Also, educate yourself around what you can do to lower your premium,” he says.

4IR and its impact on car insurance

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Here is a list activities that could help lower your car insurance premium:

Take a defensive driving course

Taking an advanced driving course will improve a driver’s skills and as a result, many insurers will assume you are a safe driver, which could translate into a lower premium.

Driving safely

This sounds obvious but driving cautiously and within the speed limit will decrease your chance of an accident, which will have a positive effect on premiums. The more often you claim from insurance as a result of an accident, the higher your premiums could be.