OUR PICK: THE TOP 5 CAR INSURANCE COMPANIES IN SOUTH AFRICA
Does your current insurer make the list?
From minor parking bay prangs to severe highway pileups, accidents happen all the time on South African roads. Although the severity and financial implications of each collision differ vastly, being involved in any type of an accident is always an extremely stressful affair. We all hope that we won’t get involved in such incidents by driving diligently but the reality of the matter is that accidents happen, a lot of the time when we least expect it. While the accident itself is always an awful occurrence, dealing with the subsequent aftermath can be immensely intimidating.
When it comes to the damages that have been incurred to your vehicle and potentially others involved in the collision, costs can accumulate at an alarming rate. Even minor scratches and scrapes, dents and dings could cost you considerably. The worst-case scenario is that your car or that of the third party would require major panel beating work or may even be damaged beyond repair. We haven’t even touched on the fact that your car might be stolen, or you might be involved in the deeply distressing situation of being hijacked.
If you have car insurance, this will be your saving grace if you’re ever involved in any type of incident. If you don’t, I strongly suggest you read on. Finding the right insurance for you and your car that suits your budget and meets your requirements can be a tricky process. There are numerous insurance companies out there all “claiming” to be better than the rest. Finding the one that fits you best is not always easy. We’ll make it easier by examining our top five best car insurance companies in South Africa but we before we get down to it we’ve listed a few key points that should be carefully considered before taking up a new car insurance policy.
Key things to consider when choosing a car insurance
- Terms and Conditions: Make sure you understand the fine print
- Decide on what type of coverage you need: From third party to full comprehensive.
- Have you done your research and shopped around?
- Understand the implications of lower premiums versus lower excess.
- Waiting periods: How long before you are covered.
- Communication lines: Is the company easy to get hold of when you need them? How have your interactions with them been be it whether telephonically, via email or in person?
Below we’ve shared our top five choicest for the best car insurance in South Africa.
- KING PRICE INSURANCE
Right at the top of the list is King Price insurance. King Price is a privately held insurance company that offers top rate short term insurance. They are the only insurer in South Africa that offers insurance premiums that decrease monthly as the value of your vehicle depreciates. Now that makes perfect sense doesn’t it? They also have an insurance package called the multiple car discount which essentially means the more cars you cover with them the greater the discount. Their premiums and excess are extremely competitive and you’ll encounter customer service second to none. For these reasons, King Price makes the top of our list.
King Price car insurance benefits include:
- Premiums that decrease monthly
- King’s roadside assist (up to three free call outs per year)
- King’s accident assist (your car will be towed to a preferred place of repair plus transport for you and your passengers from the incident to wherever you need to go).
- King’s medical assist (emergency transfer to the nearest hospital if the need presents itself).
Don’t delay click below for an excellent quote from an incredible insurer.
- AA INSURANCE
The AA offers all three main types of car insurance: Comprehensive cover (the most extensive option available), third party fire and theft and third-party insurance. Aside from this, they offer a list of value-added products that you can add on to your insurance package. The AA’s premiums are reasonably priced, and they cater specifically for seniors over the age of 60 with a package designed just for them. For this and many other reasons the AA comes in at number two on our list.
AA car insurance benefits include:
- Unlimited call outs
- Roadside rescue and roadside security
- Emergency medical rescue
- Round-trip towing plus overnight accommodation and car hire
Momentum covers all three major types of insurance, as well as optional extras that can be added to extend your cover. The group offer no hidden costs and guaranteed premiums for 12 months. That being whether you claim or not. For those who travel outside of the borders of the country with their vehicles, they offer Momentum explorer as well. With outstanding customer service and years of experience in the South African market place it’s easy to see why Momentum comes in at number three on our list.
Momentum car insurance benefits include:
- Free 24-hour roadside assist
- Vehicles are insured at retail value.
- Guaranteed benefits for 12 months
- They work on a regular driver basis so need need to nominate drivers
Coming in at number four is Outsurance. Outsurance is a household name in South Africa and has been around since 1998. The group prides themselves one being one of the most affordable insurers in the country. They separate their plans into two main types: Comprehenive and Essential. Outsurance pioneered the concept of money back provided the client remain claim-free and since then have paid out over R3 billion in cash on outbonuses. It’s no wonder the insurer is so popular with the South African public and is well deserved of a place on our list of top car insurance companies.
Outsurance benefits include:
- A low flat excess
- Free emergency roadside assistance
- 10% cash Outbonus (if you remain claim free for a period of three years)
- 12 months guaranteed premiums
Propping up the list at number five is Santam. According to the South African Customer Satisfaction Index, Santam always ranks highly when it comes to overall customer satisfaction. When it comes to responding to complaints, paying of claims and overall customer service Santam is top of the pops. They boast an impressive record of having the highest claims efficiency. Santam is South Africa’s largest short term insurer and they offer good quality insurance at affordable rates.
Santam benefits include:
- Guaranteed value insurance (know exactly what you’ll get if your car is stolen or written off.
- 24/7 customer service
- Get 6 free home drive chaffeur services if you’re over the blood alcohol limit.
- Cash back bonus after two claim free years means that they also reward good drivers.
With so many short term insurers in the South African insurance sector all vying for your business, choosing a company that your fulfills your requirements and satisfies your needs whilst still staying within your budget can be tricky. Do your homework and get a number of comparative quotes. With that said, the only thing that you really can’t afford is to not have insurance.