Fair insurance premiums?

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wizzball

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Cape Town, South Africa
I'm about to take ownership of my new Fiat Grande Punto from Porters (2nd hand)

I'm paying R110 000 for it and the market value is about R111 000 and I'm looking round for insurance.

I've been out of the country for two years so haven't had insurance in the last 39 days which counts against me. The car has remote central locking, immobilizer and smash n grab tint.

Not going to be used for work, just getting to and from the office and personal use. I'm the primary driver, 31 years old, no accidents previously. Vehicle will be parked in a residential driveway behind 7 foot high security fencing and an electric gate in a residential area. The vehicle has no modifications either and a non removable radio.

What would I expect to pay for comprehensive insurance? My partner will also be on the car as an authorized driver.

So far I've been quoted R821 per month which seems quite high.

Thoughts?
 
I've been with Outsurance for many years and have had good service from them. Pay a slightly higher premium and get peace of mind rather than 'save' every month and then deal with the crap when you have to claim. Get a few quotes and make sure you read the fine print wrt claims etc.
 
MartyMarts said:
I've been with Outsurance for many years and have had good service from them. Pay a slightly higher premium and get peace of mind rather than 'save' every month and then deal with the crap when you have to claim. Get a few quotes and make sure you read the fine print wrt claims etc.
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Can't say I agree with your view on Outsurance, my mother was with them for a few years and when she had an accident they refused to pay out to have the vehicle repaired as it was too old.

They only paid her out the book value of the vehicle (R5000). Then, when the owner of the trucking company found out that they refused to pay her to repair the vehicle he gave my mother R10 000 towards the repair costs.

Outsurance found out about his payment and issued my mother with a lawyers letter insisting on a full repayment of their R5000 claim payment. She complained but had to pay them back the full amount anyway and canceled her policy the same day because of the S**T service.
 
Sounds a bit high....

I've got a second hand A3 sportsback, current bookvalue 115k, paying less than that even though I'm in the age-bracket from hell (I'm 25) and my policy covers any driver i give permission to use the car.

Im paying R758, so yours should be a lot less. But then again I'm insured in Stellenbosch, not Cape Town :D
 
wizzball said:
Can't say I agree with your view on Outsurance, my mother was with them for a few years and when she had an accident they refused to pay out to have the vehicle repaired as it was too old.

They only paid her out the book value of the vehicle (R5000). Then, when the owner of the trucking company found out that they refused to pay her to repair the vehicle he gave my mother R10 000 towards the repair costs.

Outsurance found out about his payment and issued my mother with a lawyers letter insisting on a full repayment of their R5000 claim payment. She complained but had to pay them back the full amount anyway and canceled her policy the same day because of the S**T service.
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Jeez, ok that doesn't sound good. I've been with them for over 5 years and I've never had hassles when I claimed (so far!!).
 
try santam--I am paying nearly that amount (actually R940) for 2 cars (Polo TDI 2006, Renault megane sedan 2007) excess 2500 per car. and house contents to 400,000 included. Tracker separate.
 
Depends also on where you live: certain areas are considered high risk and as a result the premium is higher. I've also found that the more you put together with one company the less you pay overall in premiums AND if you stick with the same company for longer without claiming they're more inclined to negotiate your premiums down (many have dedicated retention departments). Have you inquired about getting a tracking device? Some vehicles are easier to steal than others and so insurance companies offer you rebates if you have a tracking device fitted (often bundling the monthly subscription into the premium but still bringing the whole cost down). Out of interest, which insurance company is this?
 
Must say it sounds a bit high for Cape Town. Did you try hippo.co.za ? It gives you a fair idea of the premiums... you can also increase your excess to reduce the premiums.
 
Smiley_lauf said:
try santam--I am paying nearly that amount (actually R940) for 2 cars (Polo TDI 2006, Renault megane sedan 2007) excess 2500 per car. and house contents to 400,000 included. Tracker separate.
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I think that's where I'm getting nailed, I'm not part of any other insurance and don't require house hold as that's already covered by the owners.
 
stevenv said:
Depends also on where you live: certain areas are considered high risk and as a result the premium is higher. I've also found that the more you put together with one company the less you pay overall in premiums AND if you stick with the same company for longer without claiming they're more inclined to negotiate your premiums down (many have dedicated retention departments). Have you inquired about getting a tracking device? Some vehicles are easier to steal than others and so insurance companies offer you rebates if you have a tracking device fitted (often bundling the monthly subscription into the premium but still bringing the whole cost down). Out of interest, which insurance company is this?
Click to expand...

I think the quote for R821 was with Budget, with Tracker it was R978. Santam just quoted me R999.30 without Tracker. I'm in a good area in Pinelands, Cape Town. Not like it's Grassy Park or Lavender hill!
 
I wonder what component of the regression equation is driving up you premiums-age? past history? residential (garage, open parking, etc)? use of care? all the parameters may be weighted against you. PM me and I will link you with agent who offered me a quote.
 
That's crazy. For about R830 per month I've covered R160,000 vehicle (with car hire), home contents for R150,000 and notebook as a specified item. And I'm younger than you!
 
I was at a panel beater the other day and overheard a staff member talking to a client. The client was struggling to get his car fixed for the amount of money Outsurance was willing to pay. The panelbeater told the client that this often happens with the Outsurance claims...

I'm with TopExec which is underwritten by Santam, no issues at all with them, even after a 80k claim...
 
Way69 said:
I was at a panel beater the other day and overheard a staff member talking to a client. The client was struggling to get his car fixed for the amount of money Outsurance was willing to pay. The panelbeater told the client that this often happens with the Outsurance claims...

I'm with TopExec which is underwritten by Santam, no issues at all with them, even after a 80k claim...
Click to expand...

I managed to get insurance through an broker my partner used to use before we went overseas a few years ago. They've quoted R471 a month with breakdown cover and car hire. I know they are good as we've had claims go through them before for household and car so I'm happy to use them again.
 
just did the exercise for myself and I am paying R895 on an A5 with R3,750 excess.
 
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