There are over 30 different car insurance companies in South Africa and their adverts seem to be everywhere. Their billboards, telling us they the best or the cheapest or the most popular, are scattered all over the highways, every advert on TV these days seems to be about saving by switching car insurance and the only smses I still get are insurance spam. So how does a smart car owner make a good insurance decision among all this noise?
Now there is a clear answer. New World Wealth, a global market research group, specializing in ratings and surveys has done all the hard work for us. They have conducted an in-depth study into the top 5 car insurance companies in South Africa. They find the top 5 (in no particular order) are as follows:
- King Price
- Auto & General
How did they come to this ranking? In addition to comparing the cost of the car insurance premiums across providers, they also took into account the level of customer service, speed of payout, ease of payout process (paperwork), roadside assistance and towing. This really does seem to be one of the most comprehensive studies out there.
We know smart consumers worry with cheaper car insurance that while the monthly premiums might be lower, you ‘pay for it’ if you ever have to claim. This study factors all that into account and ranks the car insurers that are not only cheap but actually get you the best value for money.
The key to being a smart consumer is to shop around for the best deal. Car insurance is no different. Most of us are paying much higher car insurance premiums now on our older, less valuable cars than when we bought them. According to the research, if you have been with the same car insurance company for the past 4 years, your car insurance premiums have likely increased by a whopping 40%. That means if you were paying R1,000 a month for car insurance in 2013, that has gone up to around R1,400 per month now. Over the same period the value of your car has likely fallen 30%. We should be paying 30% less not 40% more!
So even if you do insure your car with one of these top 5 car insurers its worth getting another quote to see if you can get a better deal.
Stop paying too much for car insurance and start getting real value from your car insurance company. Fill in your details and get a free quote now from one of these top 5 SA car insurers. There’s no obligation whatsoever, just a chance to save hundreds of rands on your car insurance premium every month.