CHOOSING THE RIGHT CAR INSURANCE

Whether it’s your car, truck, SUV, van, 4WD, motorcycle, or caravan, consult a motor vehicle insurance specialist for comprehensive advice on your insurance requirements. They may be able to arrange monthly payments on your premium and special rates may apply if you are retired or not working full-time.

Ask about the four basic cover options –

• third party injury;
• third party property damage;
• third party, fire and theft;
• and comprehensive insurance.

Find out if you can pay less, perhaps using one of the four cover options, to insure a second vehicle or one you don’t drive to work. Some motor vehicle insurance companies will give you an over-the phone quote and personalized insurance plans. Ask the insurance company you contact if they also provide 24-hour road service a fast claim service. Also, find out whether they insure on market value or agreed value terms.

Remember to compare quotes from a number of insurance companies before you sign up. Read the policies carefully so you know what you get for your money. Many insurance companies now offer online car insurance information. Some of these companies will even show you a comparison of their rates against their competitors. Remember, cheap auto insurance is not necessarily a good thing. You need to have adequate coverage for your vehicle, as well as, adequate coverage should you be held liable for the damage done to another persons vehicle.

LET YOUR AGENT SETTLE ANY DISPUTES

If you drive a vehicle, you need motor vehicle insurance. Insurance covers you in the event of an accident, whether it is your fault or not. If you are in a mishap, it is important that you get the name of the driver and registration number of the other vehicle or vehicle s involved. If witnesses are available, it is also a good idea to record their names and contact details, in the event of a claim dispute with other parties.

Once you have made a claim to recover the costs of repairs to your car and any other cars, if the accident is deemed your fault the insurance company will settle on the amount of money to be paid for these repairs. If you disagree with the decision your insurance company has made, you should write to them, state the reasons you disagree and ask that your claim be reviewed and reconsidered. If you are still not happy with the decision, you can ask for an independent review of the decision by the appropriate governmental insurance representative.

MAKING A CLAIM WITH YOUR INSURANCE COMPANY

Motor vehicle insurance protects you against costs and liabilities if you are involved in a vehicle accident or your car is stolen or vandalized. If you are involved in an accident that requires you to make a claim from your insurance company, you must do a few things.

• You should contact your insurance company, insurance broker, or agent as soon as possible after the accident, preferably within 24 hours.
• It is important that you give a detailed account of the accident when you are completing the claim form or stating your claim over the phone.
• You must also give details of the other vehicles involved in the accident, if this applies.
• It is important that you supply a true and accurate account of the accident.
• If you have names of witnesses, provide these details as well.
• You may be asked to supply two or three quotes for the repair work to be done, depending on who you are insured with and whether the panel beater you receive a quote from is approved by your insurance company or not.
• Once your claim is submitted, the insurance company will advise you on settlement, and whether you must pay the ‘excess’.

Remember that your claim may be refused if you are involved in an accident while under the influence of drugs or alcohol.

CAR INSURANCE RATINGS – WHAT YOU SHOULD KNOW

Insurance companies usually give customers a numerical rating, with premiums charged according to that rating. For example, a rating one driver is charged the lowest premium. Calculation of premium is based on factors such as your age, driving experience, occupation, the type of car you drive, traffic accidents or convictions as well as location and intended use of your vehicle.

When you first take out insurance, you will probably start at a higher rate. Each year if you don’t make a claim, your rate will go down. This is sometimes known as a ‘No Claim Bonus’. This way, good drivers are rewarded. If you do make a claim, your bonus is reduced, your rating will generally increase and your premium will cost more too.

It is important to reveal all material facts when your premium is calculated. Failure to do this could lead to your insurer declining a claim at a later date.