Covid-19 Outbreak SA Online Resource | More info
Insurance, Car Insurance, Funeral Cover, Life Insurance, Budget Insurance, Insurance Quotes, CompareGuru, South Africa.
Car and Household
Business
Life and Funeral
Car Insurance
Cover your vehicle
More Information
Get Quote
Pre-Owned Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Extended Warranty
Cover the mechanical and electrical components of your vehicle
More Information
Get Quote
Scratch and Dent
Cover small dents, chips and scratches to your vehicle
More Information
Get Quote
Tyre and Rim
Cover damages to your wheels
More Information
Get Quote
Home Insurance
Cover your home and everything in it
More Information
Get Quote
Commercial Vehicle Insurance
Protect vehicles and drivers used in the day-to-day operation of your business against risks like financial loss, damage or personal injury.
More Information
Get Quote
Commercial Insurance
Provide cover against common risks and disruptions to business operations, such as theft, damage to property, employee / client injury and much more.
More Information
Get Quote
Directors and Officers Liability
Safeguard your business and key players from financial loss with the right policy.
More Information
Get Quote
Errors and Omissions Liability
Covers your business and employees against claims of negligence, poor workmanship, and more.
More Information
Get Quote
Life Insurance
Provide for your loved ones
More Information
Get Quote
Disability Insurance
Protect your paycheck
More Information
Get Quote
Serious Illness Insurance
Cover yourself for illnesses like cancer, Alzheimers, Parkinsons, strokes or heart attacks.
More Information
Get Quote
Funeral Cover
Protect your family financially and cover funeral expenses
More Information
Get Quote
Domestic Worker Insurance
Cover the person that looks after you and your family everyday
More Information
Get Quote
Menu
Home
About Us
Domestic Worker Cover Quote
Life Insurance Quote
Car Insurance Quote
Funeral Insurance Quote
Extended Warranty Quote
Pre-Owned Warranty Quote
Scratch and Dent Quote
Tyre And Rim Quote
News Room
Meet The Team
Careers
Providers
Insurance
Car Insurance
Building Insurance
Household Contents Insurance
Life Insurance
Disability Insurance
Serious Illness Insurance
Domestic Worker Insurance
All Risk Insurance
Funeral Insurance
MotorVAPS Cover
Commercial Insurance
Commercial Vehicle Insurance
Directors and Officers Liability Insurance
Errors and Omissions Liability Insurance
Support
Contact Us
Terms of Service
Privacy Policy
Disclosures
Client Letter
POPI Act
PIA Act
CIM Policy
Complaint Escalation
TCF Form

News Room

When Cheap Insurance Isn’t The Best Policy

Compare Guru
2016-12-26
While getting your money’s worth may seem like you need to go for the lowest premium, here’s why cheap insurance may land you in trouble.
When on the lookout for insurance, we are mostly likely to have one goal in mind: the cheapest. But, is cheap insurance always the best policy? Let us explain. We would like to think we do the best research when on the lookout for an insurance package. The truth is, what the sales agent pitches may sway you with an insurance that is "the best price" but, quite possibly, not "the best fit" for your lifestyle needs. In 7 Ways To Avoid Being Ripped Off By Your Car Insurer, we mention ways you can lower your insurance premium that you are in control of. These include remaining claim-free, having a squeaky clean driving history, and high security when your car is parked overnight, to just name a few. Car Insurance Comparison(2)

The Risks Of Taking Out Cheap Insurance

The Johannesburg Flood was a testament to how not all of us realise how little we are covered for and fall into debt when crisis hits. Nine times out of ten, this is as a result of taking out an insurance policy that was "the cheapest". Michelle van Staden, Head of Claims at Mutual & Federal spoke about what some 'cheap insurance' policyholders in Johannesburg may be experiencing:
“While Insurers do cover floods as so-called ‘acts of God’, most policyholders do not distinguish between ‘property maintenance’ and ‘weather-related’ claims."
The lesson here is to know exactly what you are covered for in all cases, but especially in an emergency. Should a predicament arise, i.e.: your car is stolen or a tree branch falls on your windscreen, you may find you are only covered for "the basics", as a result of your cheap insurance premium.

The Benefits Of Combining Your Insurance Policies

Most insurers reward clients for combining their insurances into one package and offer significant discounts. Why? It costs more to lose clients than to process new ones. A combined policy also means more money for your insurer which means they are more willing to come down on a premium if it means keeping you as a client. Below are three benefits associated with combining your insurance policies: 
  1. Save thousands each month with rewards for a multi-policy.
  2. Remove frustration of having two different insurers with different deductibles and procedures.
  3. Save time by having one renewal date and one premium each month.
Here is a real time example provided by our insurance broker partner, Risk Benefits Solutions (RBS): save, combining insurance, household contents, polo vivo This information was based on a 29-year-old male. The car insurance premium dropped from R833.75 to R545.13 when paired with the household contents insurance.
CLICK BELOW to read more about how Combining Insurance Policies Can Save You Big Bucks.  unnamed-2

So, What Should You Do When Taking Out Insurance?

The devil is in the detail:
  1. Take out insurance that covers the retail value or replacement cost of your asset.
  2. Make sure your insurance provides sufficient liability coverage and protects you against anything you may have caused in an accident.
  3. While the best insurance is most definitely Comprehensive Insurance, making sure you are covered for Third Party, Fire and Theft can prove invaluable. Especially when an unexpected accident renders you car-less and in no financial standing to replace the vehicle.
CompareGuru Social TwitterCompareGuru Social FacebookCompareGuru Social LinkedIn

Sign up to our Newsletter now, and don’t miss a beat.

Email Address
Name
Sign Up