It’s Car Insurance Day on 1 February… And it’s a good day to review your car insurance to make sure you’re properly covered.
Wait … What? But why do we even need car insurance?
Here’s why every South African should have car insurance:
Don’t be that guy: Don’t be the person who thinks that accidents only happen to other people. Or that, if an accident happens, the other driver will take care of the costs. According to the AA, there are around 12 million registered vehicles on SA’s roads. Of those, only 2.5 out of every 10 are insured. So, if you’re involved in an accident, you’ve got a 75% chance of the other party not being able to cover any of the damage. If you’re responsible, you insure yourself. Simple.
Should’ve, could’ve, would’ve: Ask yourself: If your car was stolen today, would you be able to replace it? If the answer is no, you should insure your car. Recent SA Police Service stats show that 93 cars are being stolen every day. That’s 1 car every 15 minutes! Is this a chance you could afford to take?
Life happens: Has anyone ever bumped your car in a parking lot? Have you ever been caught in a heavy hailstorm? Have passing trucks ever thrown up stones that chip your windscreen or paint job? If the answer is yes, and you don’t have insurance, then you know how annoying and expensive these little incidents can be.
It goes without saying that every South African driver needs insurance. The next question to consider is which car insurance option is right for you. Here’s what the king of insurance offers:
Agreed value car insurance: This covers accident damage, theft, hi-jacking, and third party liability. The best part? Your car’s insured value stays the same for three years, so you always know what you’ll be paid out.Agreed value cover is perfect if you want consistent cover without worrying about the depreciating value of your car.
Comprehensive car insurance. This covers you for accident and hail damage, write-off, theft and hi-jacking, and any damage that you may cause to other cars, property or people in an accident. It’s basically the same as agreed value insurance, except that your premium decreases monthly as your car loses value. (And your car’s insured value also reflects its depreciating value.)
Theft and write-off insurance. This covers you for the total loss of your car if it’s written-off, stolen or hi-jacked, and not recovered, and also covers any damage incurred during an attempted theft or hi-jacking. You must bear in mind that accidental damage and third party responsibilities aren’t covered.
Third party, fire and theft car insurance. This covers you for the total loss of your car due to fire, theft and hi-jacking. It also covers you for liability to other people and their property as the result of an accident. What’s missing here is cover for accident damage, but it’s a good option if you can afford to repair or replace your car following an accident.
Third party car insurance. This covers you for your liability for accidental damage to other people’s property.
Top up for peace of mind
Those little curveballs that life likes to throw around? Here’s how King Price helps ensure that you can catch more of them without dropping the ball:
- A rental car for when yours is unavailable due to an incident that’s covered by a valid claim, car warranty cover for broken parts.
- Cover for credit shortfall (the difference between what your car is worth at the time of it being stolen or written off, and what you still owe on finance).
- Cover for fixing accidental damage to your tyres and rims, as well as scratches and dents.
- King Price also has a drive-you-home service that’ll get you and your car home safely when driving yourself just isn’t a good idea. It’s called king’s cab, and it’s fab.
Even though these nice-to-have top ups come at an additional cost, they’re worth it. However, not all of the car insurance options allow for this additional cover to be added. Luckily, the ‘car insurance’ section in our policy document (KPPD) explains it all very clearly. Click here to find it.
If you’re still not sure what cover is best for you, consider these 3 deal clinchers when it comes to comprehensive car cover with the king of insurance…
1: Your car starts losing value the moment you drive it off the dealership floor. And it doesn’t stop. So why keep paying the same every month to cover a car that’s worth less every month? King Price offers premiums that decrease monthly as your car loses value.
2: You can insure your golf clubs or bicycle for just R1 monthly. (Say what?)
3: You could get a discount of up to 20% when you comprehensively cover multiple cars.
Even if Car Insurance Day has passed by the time you read this, the lessons are still valid. If you don’t already have car insurance, or would like to explore your options further, click here or WhatsApp King Price on 0860 50 50 50 for a commitment-free car insurance quote.
Psst… This blog provides general info only, and doesn’t count as financial or product advice from King Price or our legal and compliance experts. Remember, all our premiums are risk-profile-dependent, and T’s and C’s apply. Our most up-to-date KPPD (policy wording) can always be found here.
Our website T’s and C’s can be found here.
