Hey good pple. Got my code 8 license just yesterday. Nw m looking for the best car insurance. Got a quote frm MiWay so far of about R1200 and they offered to discount it to R840 after a long struggle. My questions are:
1. Can I get a better deal than this, if so, from which insurance company?
2. I hear pple on the forum talking abt brokers, is there any one you can recommend. I'm in Vredendal in the Western Cape abt 300km frm Cape Town.
I'd be very careful about 'discounted' insurance, because often this just means the insurance provider is reducing the risk to themselves (by loading more risk back onto you), and that helps them reduce the nominal premium.
The most common way of doing that is by increasing your excess payment if you need to claim. Seriously look at this number, and insist on the lowest number possible. Trust me, you do NOT want to be paying R8 000 every time somebody else crashes into you. Yes, your insurance company will attempt to claim back from the other person's company *if* they have insurance (which is actually unlikely in SA), but you still have to pay that amount upfront before you get any repairs done by the insurance company.
That R8 000 figure is a common one ... I was quoted that by Budget insurance, the one time I asked them for something. The funny thing is that if you ask for different quotes with the *same* insurance company using different excesses, you'll quickly see that you end up paying very little different for increasingly lower excesses. I have my excess with Outsurance set to R1 000, which is at least an amount I can afford without grey hairs (I had to do just that recently when an idiot crashed into me), and I'm probably only paying R100/month 'extra' for that privilege. It's all a game of odds: do you think you'll get into an accident in the next 80 months, or not? For me, I reckon that's a safe bet to take, considering how easily accidents happen.
TLDR: Choose the lowest excess you can. Also, because you're young with zero driving history, you WILL end up having to pay a lot for your first insurance. After a couple of years without any accidents that figure should halve, so just stick it out.
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