Save on Insurance

Besides rent or home loans, insurance is one of the biggest monthly expenses for the average consumer. It makes sense then to do your best to save on insurance.

If you are currently insured or are looking to get insured, the following tips could help you save a lot of money:

- Decide on what needs to be insured. If you have a house and car that needs to be insured, then use the same insurance company for both. You will get a much lower premium by insuring both together than individually.

- Shop around for the cheapest insurance brokers. You can use sites like www.insurancehound.co.za or www.hippo.co.za to get comparative quotes.

- Don’t buy a black car. Some insurance companies take into account the colour of the car when calculating premiums. White cars are the cheapest to insure and black cars are the most expensive.

- Installing an anti-hijack device or alarm could save you a lot of money. Ask the insurance companies that you contact what options they have available.

- If your car is very old and paid off, consider opting for 3rd Party only. A year's worth of comprehensive insurance might just be equal to the value of your vehicle.

- If you are buying a new car and haven’t decided on a specific model or make, first shop around for insurance quotes. Some cars are a lot cheaper to insure than others.

- If you have claimed from your current insurance company in the last 3 years you may want to stick with your current insurer until you have built up a 3 year no claims history. Premiums tend to be higher for people who claim often.

These are just a couple of tips to help you save on your insurance premiums, but if used could save you hundreds of rands per month.