Find out why cheap doesn’t mean best.
It’s the beginning of a brand new year and after all those holiday and Christmas expenses, not to mention the new school year ahead, you are now feeling the pinch in your wallet.
You’ve probably gone through your bank statements and tried to identify where you can save on expenses. And home and car insurance premiums are probably way up there on your list.
We understand. January is usually the month that finds everyone out of pocket so every rand you can save on your insurance policy is another rand that stays in your pocket.
The bottom line is that when it comes to saving on car and household insurance, cheaper isn’t always better.
“Cheap car and home insurance” rarely translates to “best insurance”
We’ve all heard the timeless (and tiresome) old saying that “you get what you pay for.” From shopping around for the best deals to trawling for retail sales, we all find ways to get what we want for next to nothing. But in the world of short term insurance, the old adage still rings true. Let’s take a look at why the cheapest insurance available isn’t always the best insurance for you:
Minimal coverage means minimal protection. Even though you may think that you got a good deal on cheap car insurance from your broker or insurance company, think again. The reality may be that you have merely purchased a low amount of insurance coverage, which could mean that you may not have enough to cover an accident. And that will put you in the hot seat if you have to fork out for what your insurance company refuses to pay.
Higher deductibles result in more out-of-pocket expenses. Yes, bumping up your deductibles will shave a bit off the top of your monthly insurance bill. But it will also increase the cost of filing a claim. Paying as much as R2 000 out of pocket when you file a comprehensive claim can make the money you saved on your premium feel paltry.
Paying less for cheap car insurance is often not a question of what you get, it’s more about what you don’t get.
The short-term high of sealing, a cheap insurance deal may result in a bitter reality check when too little coverage results in denied insurance claims.
There are other, and better, ways to save on your car insurance If you want low cost car insurance that doesn’t sacrifice vital coverage, look for the discounts available to you. Here are a few of our most popular discounts:
- Multi-Car discount
- Homeowners discount
- Vehicle tracking device discounts
- Home security discounts
So how do you get the cheapest and best car insurance? It starts with smart shopping. Get and compare quotes side by side. Speak to a reputable insurance broker like Indwe Risk Services, to help you compare apples with apples and identify the best coverage to suit your risk profile and your lifestyle. Then you will be reliably assured of getting the right policy match.
Talk to Indwe Risk Services today about the right insurance cover for you or to review your existing policy to ensure you are adequately covered. Call 0860 13 13 14 or visit www.indwerisk.co.za for more information.