Before the pink hearts and sparkly balloons take over everything (yes, Valentine’s Day, we’re talking about you) there’s another really important day to consider: Car Insurance Day. Forget chocolates and roses though, 1 February is about hailstorms and third party liability. It ain’t sexy, but it’s necessary.
Why you should care about car insurance
It just might not be your day: Fewer than 3 out of 10 cars on the road in South Africa are insured. Translation? There’s a 75% chance that the other driver in an accident can’t cover the damage, even if they were the sole cause of the accident. If you want to prevent a bad day from turning worse, make sure that you’re protected in the event of an accident.
Challenges, schmallenges: Life likes to challenge us. Figuring out who sent that anonymous Valentine’s Day card is 1 of the more pleasant challenges. Figuring out how to fix damage caused by hail, stones, and shopping trolleys is definitely on the less-pleasant list. Unless, of course, you have car insurance. With insurance covering these costs, you’ll likely be able to afford special first dates with all your secret admirers.
Picture this: You dodge a pothole and accidentally take out a parked car, a fence, and a six-foot-high inflatable heart. Without third party insurance, you’re footing that bill. And let’s be real, inflatables aren’t cheap.
So. Knowing what risks are out there, here’s the low-down on what kind of insurance is right for you and your unique risks:
Agreed value car insurance: Keep your car’s insured value the same for 3 years so that you know exactly what your pay-out will be, while also knowing that you’re comprehensively covered for accident damage, theft and hi-jacking, and your responsibility for accidental damage to inflatables of every size and shape.
Comprehensive car insurance: Keep your car covered for all the same things as agreed value insurance, but your insured value decreases as your car loses value. The good news is that, if you’re with King Price, your monthly premium decreases as well.
Theft and write-off car insurance: Get total protection for loss or damage due to your car being stolen, hi-jacked or written-off. This option is more affordable, but it doesn’t cover any repairable accident or fire damage to your car, or any third party liability costs.
Third party, fire, and theft car insurance: Get cover for liability, theft and hi-jacking, and fire damage. What you don’t get, however, is cover for accident damage to your car or for accidental damage you cause to other people’s property (third party liability).
Third party only car insurance: Basic but essential protection against liability costs. If this is all your budget can accommodate, it’s a solid option. Some cover is better than none at all!
The extras worth inviting
King Price Insurance also offers a range of additional cover that keeps you covered all -year round, including:
- A rental car while yours is being repaired or replaced.
- Cover for your car’s tyres and rims, as well as cover that’ll smooth out those scratches and dents.
- Credit shortfall cover to bridge the gap between what your car is worth, and what you still owe on it, at the time of it being written-off or stolen.
- King’s cab: The designated driver you can always rely on.
Each of these is a separate policy and comes with an additional premium that’s a small price to pay for such massive peace of mind. 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.
Car Insurance Day might not come with confetti, but it’s the perfect reminder to protect what’s important. So, celebrate wisely, review your policy, and give yourself the peace of mind you deserve. After all, insurance is the gift that keeps on giving. Not like that ugly red satin bunny that says ‘I love you’ when you squeeze its tummy…
To find the car insurance policy that makes your heart beat faster, 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. King Price Insurance Company Ltd is a licensed non-life insurer and registered financial services provider. (Reg no. 2009/012496/06 | FSP no. 43862)
