AutoInsurance Companies Offer Cost Effective Insurance Premiums -There
are numerous cost effective auto ins companies available to people that will
offer you the best deal around. The primary function of these companies is to
cover certain costs of loss due to fire, theft or accident to the vehicle.
Below are details of what insurance options are offered by different companies.
Cost
effective vehicle insurance covers all vehicles including cars, motor bikes,
and trucks. Car insurance in South Africa is mainly responsible for covering
losses due to accidents on the road and due to loss, as a result of the vehicle
being stolen. There are a number of online insurance companies that you can
obtain a quote from. We suggest that you get all quotes in first before
deciding to buy. It is also a good idea to let the insurance companies know
that you are shopping for the best quote. This will help them to give you the
best quote possible.
This
type of cost effective insurance can cover:
- Third parties.
- The insurance motor car or motor bike.
- The insured owner or driver.
- There are a number of differences pertaining to damage caused by accident, fire or theft.
- Various policies will also pay out varying amounts for losses incurred.
In
South Africa it is not mandatory to have car insurance, In most other countries
it is mandatory to have insurance on your car. South Africa has a a fund called
the Road Accident Fund, money is derived from petrol sales and this money is
used to compensate third parties for any losses or damage.
Insurance
companies in South Africa establish insurance premiums, this after consulting
with government and abiding by their recommendations. Actuaries have a large
say in the calculation of premiums. They do this by analyzing various
statistical data. Other information necessary in pricing insurance premiums
includes but is not limited to whether the car has an alarm, an immobilizer
airbags and so on. The sex of the driver is also important as is the reason for
driving the vehicle. Is it going to be used for day to day travel or is it for
business use exclusively?
Woman
drive less than men do and therefore encounter fewer accidents than men do.
People
over age 35 will pay less than people younger than 25.
There
is very high theft and hijacking incidence in South Africa and for this reason
most insurance companies will not grant cover unless the car has an accepted
alarm system and or an accepted anti hijacking system installed in the vehicle.
In a very small case car color can also be assessed when determining insurance
premiums.
There
are numerous cost effective auto ins companies available to people that will
offer you the best deal around. More info on how carriers determine
insurance
By Ted
Kripps