These are probably questions that need answers. In our digital world where everything is instant, including online car insurance calculators, you might just think that’s the best way to save time. Car insurance calculators are not always accurate as they only give you an estimated figure and do not take into account important information about the driver and are not customised to the individual.
The best way to get an accurate car insurance quote is either online or contacting the call centre. We at iWYZE can confidently say that our online quotes are accurate, and we base the quotes on your personalised information like your current age driving history and many other factors which are unique to you.
A common mistake a lot of people make is using generic car insurance calculators which are often inaccurate. Some of the factors considered before an accurate quotation is location, where the car is parked overnight and during the day, the driver age, driving behaviour and insurance history just to mention a few.
How car insurance premiums are calculated
It’s important to always remember that quotations are always risk profile dependent, iWYZE always aim to offer you the best value insurance for your needs and lifestyle. We don’t assume anything, that’s why we ask you a set of questions so we can ensure you get the right cover at the right price. Some of the questions we ask when calculating car insurance premiums:
- The model & year of your car
- What you use the car for, business or private purposes?
- Where is the car parked during the day? Where you park the car overnight?
- How long you’ve had your driver’s license for and what is your licence type
There are also different car insurance cover options, it is best that you choose the cover to suit your individual needs. The types of cover are:
1. Comprehensive car insurance
Cover for:
- Third party liability
- Hijack of your vehicle
- Theft/attempted theft of your vehicle
- Loss/damage to your vehicle
- Accidents
- Natural disasters
2. Third party, fire & theft car insurance
Cover for:
- Third party liability
- Hijack of your vehicle
- Theft/attempted theft of your vehicle
- Loss/damage from fire, lightning & explosion
3. Third party insurance
Cover for:
- Third party liability
How to save on car insurance?
Although there are factors considered before a quotation is given, there are things you can do as a driver to reduce your monthly car insurance premiums. Follow the steps below to help lower your insurance costs.
- Compare quotes (remember that it must be like for like)
Getting quotes from different insurers gives you the opportunity to see which car insurer gives you the best cover at the lowest rate for your situation. There are a lot of online quotation portals that can give you multiple quotes instantly. Remember to compare quote and not premiums provided by online car insurance calculators!
- Take a chance and ask about discounts
Most insurers offer a list of possible discounts you may qualify for to help lower your premium. Asking about discounts may at times be your saving grace from paying higher car insurance premiums.
- Consolidate your policies
Having multiple debit orders going off your account can be such an inconvenience, tracking service providers can also be difficult. You can consolidate all your insurable items into one policy and that way you'll only have one debit order going off for insurance plus, if you bundle your policies, you’ll most likely get a discount at most insurers.
- Drive better
Your driving record and behaviour is something you have control over and just by improving your record, you could also help reduce your monthly car insurance premiums. Practice safe driving habits, avoid road violations and that will improve your driving record and lower your risk, resulting in lower car insurance premiums.
- Work on increasing your credit score
Just like you can improve your driving record, you can improve your credit record by making changes like paying your creditors in time. This will result in lower car insurance premiums. You can check out your credit score online through various online tools.
You can check out your credit score online through various online tools provided by the likes of Clearscore, Experian or Transunion.
SOURCES
https://www.thezebra.com/auto-insurance/coverage/car-insurance-calculator/
https://www.iwyze.co.za/products/car-general-car-insurance
