Need help regarding insurance

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Semisane

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I need advice regarding insurance I'm currently insured with miway I'm paying R1225.00 for full cover. My excess fee is R7500 my licence is new got it last year June I must drive with glasses.

I just got quotation from Iwyze (Old mutual) monthly premium I'll pay R1400.00 with excess fee of R4000.00 he mentioned something about high and retail value. Because if I increase excess fee to R6000.00 I will pay R1200.00 something.

The advice I need is it really worth it to move to Iwyze the hassle of changing insurance, if the was a huge difference in my premium like R200 or R300. I think I should wait a bit stick with miway someone will come for me offer me something cheaper.
 
What car is this?

I think your being shafted.

Iwyze is decent I have my home contents insurance with them, would be worth to switch save some money.
 
If you have less than 5 year's no claim comprehensive insurance, then your fees will be crap high. I'm sure most of us had the same, or used our parents insurance policy.
 
I will only be saving money on excess fee and on the other hand increasing my monthly premium. So either way I'm screwed better to wait maybe after my licence is year old I'll get something cheaper.

I'm driving Honda Brio 1.2 comfort and the is nothing special about it to pay that much for insurance, I'm sure thieves are not interested in a small car like Brio.
 
Where do guys get cheaper insurance my friend got her licence back in 2015 she drive Ford Figo she is insured with miway she pay R960.00 excess fee R7500.

My cousin got his licence back in 2013 he drive VW Polo Vivo he R1100.00 excess fee R10 500.00 thru Auto&motor general.what are we not doing right.
 
Semisane said:
Where do guys get cheaper insurance my friend got her licence back in 2015 she drive Ford Figo she is insured with miway she pay R960.00 excess fee R7500.

My cousin got his licence back in 2013 he drive VW Polo Vivo he R1100.00 excess fee R10 500.00 thru Auto&motor general.what are we not doing right.
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Contact a broker - they should be able to give you a good deal.

High excesses to bring down premiums are all very well and good until you have to lodge a claim and pay the premium.

What happens if you have to claim 2 or 3 times in a year - will you be able to afford that?
 
Semisane said:
Where do guys get cheaper insurance my friend got her licence back in 2015 she drive Ford Figo she is insured with miway she pay R960.00 excess fee R7500.

My cousin got his licence back in 2013 he drive VW Polo Vivo he R1100.00 excess fee R10 500.00 thru Auto&motor general.what are we not doing right.
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Get a broker.
 
Stop using insurance companies and find a decent brokerage. Also add your household can bring down the expense a little.
 
Lupus said:
Stop using insurance companies and find a decent brokerage. Also add your household can bring down the expense a little.
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Called 3 different brokers. None could beat what I'm paying at the moment direct sadly :cry:
 
Every year of comprehensive motor insurance with no claims, you get 1 point. Anything less than 5 points they going to give it to you dry. When you turn 25 they usually have a premium drop, before that it's just stupid. I remember paying R2,200pm for a R100,000 car when I started driving.
 
reactor_sa said:
Every year of comprehensive motor insurance with no claims, you get 1 point. Anything less than 5 points they going to give it to you dry. When you turn 25 they usually have a premium drop, before that it's just stupid. I remember paying R2,200pm for a R100,000 car when I started driving.
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I turned 25 - phoned Outsurance (who I was insured with at the time) - asked for a decrease in premium and was told that they don't do that.

Which was awesome.
 
I think after my licence turn a year I can try look for something cheaper, paying less than R1000.00 would not be bad. I'm 29 and I wear glasses does those thing play a role in my premium. One thing I liked about Iwyze the are no night or weekend excess fees
 
Lupus said:
Stop using insurance companies and find a decent brokerage. Also add your household can bring down the expense a little.
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This is not always a given. Found this out myself.
Brokers could not match what I got directly on a few occasions.
 
Tip I used when I was a young driver.

I added my car under my mother's policy with me as the regular driver. I Paid R350/R35000 access for car worth R60000. I was under 25 years old.
 
Necropolis said:
Those excesses are crazy.
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Not really. I upped my voluntary excess since I budget for it in my emergency fund and save on my monthly premiums. I don't really insure anything under R10,000 including cellphones. Just not worth it IMO if you have the means and are prepared to replace them.
 
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