Car insurance

A

Avikage

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I just bought a cash and i need insurance. I am a first time insurer and my premium is sky high like R1300pm. I really dont want to pay this much. What are my other options here?

Even if the car is on my name can i insure it on my parents name or something?
 
Avikage said:
I just bought a cash and i need insurance. I am a first time insurer and my premium is sky high like R1300pm. I really dont want to pay this much. What are my other options here?

Even if the car is on my name can i insure it on my parents name or something?
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Well A) what is the car? And B) how old are you. Two very important questions.

Have you phoned around for quotes?
 
Before I was 25 I had my car insured as my father as the regular driver. I just drove it over weekends anyway. The excess would have been alot if I had to claim though.

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Nothing fancy...its a 2007 VW polo. 23 years. Gotten quotes from hippo. Insurance broker will get back to me on Monday...but im pretty sure the quotes are going to be around the same.
 
Leimie said:
Before I was 25 I had my car insured as my father as the regular driver. I just drove it over weekends anyway. The excess would have been alot if I had to claim though.

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Was the car registered on your name though?

My question is if the car is on my name can i insure it on my parents name with me as one of the drivers?
 
Avikage said:
Nothing fancy...its a 2007 VW polo. 23 years. Gotten quotes from hippo. Insurance broker will get back to me on Monday...but im pretty sure the quotes are going to be around the same.
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Fancy means nothing, polo is a high risk car, that is your first problem, and secondly you are under 25.

Unfortunately a very bad combination you have there. :(
 
Avikage said:
Was the car registered on your name though?

My question is if the car is on my name can i insure it on my parents name with me as one of the drivers?
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I don't think so as its your car and not your insurance. Insurance ombudsman was warning consumers last year about this practice, rather speak to your broker. I doubt your going to save anything if your correctly listed as the primary driver as this is risk based. Read the fine print, many policies will slap you with high excess because of your age. I somehow got it also in my head that they will only do this if you still live with your parents (cannot confirm).

The only time your going to really save is with a multi cover policy, we just did that and saving 40% on the car insurance alone but its a packaged deal that covers the business, the car, my bicycle (R12K) and household.

But speak to your broker or parents broker.
 
Avikage said:
Nothing fancy...its a 2007 VW polo. 23 years. Gotten quotes from hippo. Insurance broker will get back to me on Monday...but im pretty sure the quotes are going to be around the same.
Click to expand...

Keep in mind Hippo is an in house service used by a group of insurance companies to promote their products. Rather speak to a proper broker. Keep in mind a good broker fights your fights and has the power to influence an insurer as he can move his clients over to another insurer.
 
Also discovered that if you buy your car cash, the premium is higher.. same car on finance, the insurance is R180 less... this is from Outsurance. Of course, when I find cheaper insurance I will tell them where to get off!!
 
Yes it was registered on my name. The insurance company had me as the registered owner and my dad as the regular driver. As I said the premium will be much lower but the excess will be high if something happens while you driving.

Sent from my HTC Desire using MyBroadband Android App
 
Chief Whip said:
always ask for a discount.... works for me everytime :)
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And also ask for a break down of what your are paying and what is optional. On First 4 Women your "cash-backs" is actually an extra charge on your premium. Drop the cash-back and you save - we cut over R100 on the premium alone by dropping the junk, then we went to Hollard and went from R370 to R200 for the same coverage, Atos II 2007.
 
Call Indwe and ask to speak to Christopher Golisch, he brought my insurance down by R300, also on a polo.
 
Insurance is a ripoff IMO.
I've been contemplating dropping to 3rd party fire and theft as soon as my car is paid off.
R920 vs R130 ...
 
Paul_S said:
Insurance is a ripoff IMO.
I've been contemplating dropping to 3rd party fire and theft as soon as my car is paid off.
R920 vs R130 ...
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I agree, I'm also thinking of COMPLETELY dropping my insurance, car was paid off in Dec 2010 already. When I asked the consultant for the market value should anything happen to my car, it was actually a LOT less than what I've ALREADY paid in insurance cover in the last 4 years. Those cash back bonus things are another rip off to keep clients, but what people don't acknowledge is that they are actually paying for their own bonus/rewards/or whatever it's called.
 
rodga said:
until the day you write your car off...
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That's a risk I'm now willing to take.
If the car is only worth 50K it's not a big knock.
If I write a car off every 15 years and my insurance costs R1K per month that's R180K over a 15 year period - enough to purchase another vehicle for CASH.
 
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