What should a 26 year old male be paying for a 2005 VW Velociti 1.4i, parked in garage overnight. Standard alarm and immobiliser etc.
No claims in last two years.
Cape Town CBD
I have heard quotes ranging from R700 to R2000. What is to be expected and where should I be looking?
Thanks
Here's some of the best advice I can give, do yourself a HUGE favour and get a reputable insurance broker who deals with several insurance companies.
Many insurance companies will tell you to cut out the middleman and save money. Not actually all that true, as most of the money they save not paying to a broker (commission) is spent on extensive advertising trying to get you to sign up with them.
Dealing DIRECT might save you a few rand initially but do you have the expertise to deal with the company when you have a claim? Do you know that the direct insurance company is settling the claim in terms of your policy and that you are getting all that's rightly due to you?
A good broker will know the ins and outs and will ensure you get the best deal. In a marginal situation a good broker will know how to place just enough pressure on the company to get your claim settled properly.
Dealing direct also means you are going to have to read the policy wording and understand it on your own. Is the direct insurer going to take the time to explain it all to you? Possibly not.
Direct insurers do not always have a conventional policy wording and might have a few unforeseen catches you were not made aware of ... and its always claim time when it comes back to bite!
A good broker will have a comprehensive understanding of the various company's policy wordings and will explain it all to you. In terms of current legislation, you will be in better hands going with a good reputable broker than direct.
Why not place a call to Santam, Mutual and Federal, Zurich or Hollard and ask them for a good broker to talk to. There are some good national and independent brokers in CT.
Finally, price is important but it's not always the best idea to take the cheapest price. Cheap can sometimes mean nasty. Make sure the cover is not watered down and that it won't leave you with a huge shortfall come claim time.
Compare cover if you can, but a good broker will do this for you.
Compare the excess structure for the different quotes.
Short terms insurance is not straight forward but it need not be complicated.
PM me if you would like more info.
PS. I am not a broker! But I am in the 'game'.
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