This budget insurance option covers the other party, should you cause an accident with someone else. Third Party Insurance is the most affordable car insurance quote you will receive. There are three types of car insurance that you can take out, each falling within your budget. It is only when the worst happens, that you realize how much coverage you need to be financially stable in the future.īudget insurance options remains one of the dominating solutions to solve the current insurance crisis in the country. Many people are also stuck in the “It won’t happen to me” mindset. Car insurance companies find themselves struggling to gain and maintain the trust of the consumer. The 2008 credit crisis saw a shake-up of confidence in the financial industry, with the general public opinion of companies taking a massive dip. The average South African customer is also extremely wary of insurance companies as a whole. Over 45% of customers seek out budget car insurance quotes on an annual basis, hoping to lower their premiums. For many, car insurance seems too expensive for them to purchase. Why are so many still uninsured? In the current economy in South Africa, customers are finding themselves over-indebted, with very little disposable income at the end of the month. It is, however, a product that only holds value when you need it the most. This, together with medical aid, is vital yet bought begrudgingly by consumers. We are all aware that insurance is considered a grudge purchase. The long-term impact of an accident without adequate insurance could be financially crippling for the uninsured, and it could take many years to recover from the hit.
Car insurance quotes comparison online drivers#
Not only are they responsible for paying out the other driver, or the drivers insurance company, but they face dealing with the high costs of their own repairs alone.
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If that is not enough, you could end up covering the excess yourself.Īn uninsured driver faces a multitude of challenges should they be involved in an accident. Even if you are covered at the time of the accident, you could face increased premiums.
The possibility of an accident involving a driver who is not adequately covered could be disastrous for both parties involved. This, therefore, means that seven in ten cars do not have car insurance! Next time you are in traffic, take a look around to see how that could directly impact you! There are also a further 800,000 unroadworthy and unregistered cars added to the problem. Did you know that there are currently 1.4 million uninsured drivers on South African roads?
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