Insurance Question

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iAmThePope

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Hey Guys,

So am I thinking of buying my first new car, and while I am waiting for some of the insurance companies to contact me back regarding a quote, I was wondering if any of you guys have some knowledge or experience you don't mind sharing.

I want to get the Clio 4 Turbo Expression. I am 22 years old, got my license when I was 18, only been in one fender bender, but nothing serious..
I was looking at the Discover Insure Young Adult Driving Plan

Any ideas? Advice?

Thanks
 
Hi

Well some things i have had to deal with. Make sure your insurance covers "loan car" if your car has to be in the shop for some reason make sure you have a loan car to use.
Rather pay a little more on installments rather than having to pay a big excess if your car has to go in for repairs.

Hope this helps
 
Hobbs zn said:
Hi

Well some things i have had to deal with. Make sure your insurance covers "loan car" if your car has to be in the shop for some reason make sure you have a loan car to use.
Rather pay a little more on installments rather than having to pay a big excess if your car has to go in for repairs.

Hope this helps
Click to expand...

Thanks for the advice. That is defenitely something I want to look into. A few years back I had the worst time ever without my car for 4 weeks..
 
Well any which way you look at it, you are going to pay alot!

That car costs roughly R190k on the road, so you will probably be looking at about R900-R1200k per month.

I was also curious about Discovery's insurance so I got a quote and they wanted to charge me R1300 per month. Almost double what I am paying...

Phone around and see what you can get. They are all more or less the same from what I have heard...
 
Spyk3r said:
Well any which way you look at it, you are going to pay alot!

That car costs roughly R190k on the road, so you will probably be looking at about R900-R1200k per month.

I was also curious about Discovery's insurance so I got a quote and they wanted to charge me R1300 per month. Almost double what I am paying...

Phone around and see what you can get. They are all more or less the same from what I have heard...
Click to expand...

Please explain what you mean with "on the road"? Is it not insured for the purchase amount?

Thanks for the feedback tho, I was thinking I was looking at R1000 - R1200 pm, which is what I am using to work out a preliminary budget.
 
The worst thing to deal with is insurance people, and especially the call centre guys. They are so quick to give you a quote and say when can we sign you up? However what they don't tell you is that you need to do a car inspection, does it have an alarm? Do you have a VSS certificate for that alarm/tracking system or both. Also car color plays a roll in the silly pricing of alarm, and unfortunately your age <25 could be a bit high.

When you do phone make sure you start off by telling them I WANT TO DO A COMPARISON QUOTE, other wise they get a bit of an attitude when you say at the end I just wanted a quote... Damn losers.. bleh!!!!!!!
 
It's often cheaper to find an insurance company that covers you for both Home (even just contents) and Auto insurance. And don't forget to compare the excess values between the quotes.
 
iAmThePope said:
Please explain what you mean with "on the road"? Is it not insured for the purchase amount?

Thanks for the feedback tho, I was thinking I was looking at R1000 - R1200 pm, which is what I am using to work out a preliminary budget.
Click to expand...

Well yes, you would insure it for 'Retail Price'/ Purchase price (make sure you get it done at that and not at Market value) but basically I am saying you will pay through your nose for a brand new car... You must have an awesome job, or awesome parents, but still... consider getting a cheaper second hand polo or yaris or something along those lines... drive it with the best insurer you can get, then get yourself a new car once you are over 25... You will save money in the long run :)
 
Spyk3r said:
Well yes, you would insure it for 'Retail Price'/ Purchase price (make sure you get it done at that and not at Market value) but basically I am saying you will pay through your nose for a brand new car... You must have an awesome job, or awesome parents, but still... consider getting a cheaper second hand polo or yaris or something along those lines... drive it with the best insurer you can get, then get yourself a new car once you are over 25... You will save money in the long run :)
Click to expand...

What he said!
 
Spyk3r said:
Well yes, you would insure it for 'Retail Price'/ Purchase price (make sure you get it done at that and not at Market value) but basically I am saying you will pay through your nose for a brand new car... You must have an awesome job, or awesome parents, but still... consider getting a cheaper second hand polo or yaris or something along those lines... drive it with the best insurer you can get, then get yourself a new car once you are over 25... You will save money in the long run :)
Click to expand...

My age really doesn't help me much...
Thats some good advice thanks. I have considered this a lot. I am, however, in the fortunate position to be able to put quite a hefty deposit on it, but I will consider what has been said and rethink my options. Thanks for all the advice.
 
Last edited:
Consider getting in touch with a broker as well... they will probably be cheaper.
 
ToxicBunny said:
Consider getting in touch with a broker as well... they will probably be cheaper.
Click to expand...

^^ this, when i was looking around for a quote for a polo gti and the best i could find with phoning around was R1500 with a R4000 excess, that didn't include household which would be another R500 on top of that. Phoned a broker and now i am paying R1100 for both household and car. You would ask what kind of service are you getting though. and i have unfortunately had to claim, the insurance company gave me a bit of stick but my broker fought tooth and nail and i got my full claim. and then my broker moved me to a different insurer afterwards to avoid further hassles. yes i don't get any money back but with the service i have got its more than worth it.
 
MaximusZA said:
^^ this, when i was looking around for a quote for a polo gti and the best i could find with phoning around was R1500 with a R4000 excess, that didn't include household which would be another R500 on top of that. Phoned a broker and now i am paying R1100 for both household and car. You would ask what kind of service are you getting though. and i have unfortunately had to claim, the insurance company gave me a bit of stick but my broker fought tooth and nail and i got my full claim. and then my broker moved me to a different insurer afterwards to avoid further hassles. yes i don't get any money back but with the service i have got its more than worth it.
Click to expand...

Thanks for the advice. I will defenetiley make use of a broker, a few guys I've spoken to at the office all claim similar stories to yours. Where a broker got the premium down quite a lot.
 
MaximusZA said:
^^ this, when i was looking around for a quote for a polo gti and the best i could find with phoning around was R1500 with a R4000 excess, that didn't include household which would be another R500 on top of that. Phoned a broker and now i am paying R1100 for both household and car. You would ask what kind of service are you getting though. and i have unfortunately had to claim, the insurance company gave me a bit of stick but my broker fought tooth and nail and i got my full claim. and then my broker moved me to a different insurer afterwards to avoid further hassles. yes i don't get any money back but with the service i have got its more than worth it.
Click to expand...

R1500? Why on earth is it so much? Is that normal?

I have just bought myself a new car and I am currently also looking around for insurance.

I did a few quotes from Hippo.co.za and they range from R450 to R650 excess between R3500 to R6000 for a Kia Rio

Not sure if area and age play that big a part?
 
PseudZ said:
R1500? Why on earth is it so much? Is that normal?

I have just bought myself a new car and I am currently also looking around for insurance.

I did a few quotes from Hippo.co.za and they range from R450 to R650 excess between R3500 to R6000 for a Kia Rio

Not sure if area and age play that big a part?
Click to expand...

My sister who is 25 is paying R550 for her Rio. excess is R3500.

I am paying R660 for my 2013 polo 1.6 c/l. excess is R2000 and includes a rental vehicle.

It definitely depends on your age and where you live. :)
 
PseudZ said:
R1500? Why on earth is it so much? Is that normal?

I have just bought myself a new car and I am currently also looking around for insurance.

I did a few quotes from Hippo.co.za and they range from R450 to R650 excess between R3500 to R6000 for a Kia Rio

Not sure if area and age play that big a part?
Click to expand...


Yes it depends on:

1. Age
2. Area
3. Marital Status
4. Car usage
5. Tracking device
6. Garage or Car Port or Nothing ...
7. claim history
8. etc etc
 
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