One of the common New Year’s Resolutions that people make is to save money, along with eating better and exercising more. Well, we have a few practical tips to help get you started on the financial side of things, so you can save money on car insurance.
Getting your insurance premiums down is one of the first places you might want to look at when it comes to saving money. And as it turns out, with a few changes to your driving habits and lifestyle, you might just be able to do that.
3 things to try in 2024 to help you save money on car insurance
1. Improve your driving habits
Your claims history and driving record will play a major influence on the price you pay for car insurance. Not only will driving cautiously and obeying the rules of the road (this includes sticking to the speed limit) help you to avoid accidents, but it will also save you money when it comes to your premium.
Tickets, traffic violations and claims will be taken into account when determining your risk profile (our age also has a role to play in this profile). If you are someone with a history of claims for accidents, then this means you are a higher insurance risk, which means you pay more for car insurance.
Unfortunately, even if the accidents were not your fault, your premium rates can still rise. These numbers will be dependent on your chosen insurer.
Sign up for an advanced driving course
If you are looking to improve your driving skills, then a good place to start is to sign up for an advanced driving course. These kinds of courses will show you how to make use of defensive and safe driving techniques in order to prevent car accidents.
In some cases, your insurer might provide you with a discount on your vehicle insurance policy as being a better driver means fewer claims and lower accident risk. Keep in mind that all insurers are different and it’s a good idea to chat to your insurer about what you can do to lower your premium.
Read: 11 factors that affect your car insurance monthly premium
2. Drive your car less
Not only will driving your car less help you play your part in decreasing your carbon footprint (less fuel used, fewer fumes emitted, not to mention the money you will save on fuel) but the less time you spend on the roads, will mean you have a lower risk of getting in an accident. insurance companies will base your premium on how many kilometres you drive.
If you choose to take public transport, ride your bike to work (talk about a great workout) or carpool with a friend where you alternate between each other’s vehicles, then this will save you money on car insurance.
3. Drive a more economical car
This might not be something that you want to hear, but the more expensive your car, the more expensive it is to fix and the more you will have to pay for car insurance. Downgrading to a more affordable car is likely to save you both in fuel and insurance.
Your insurer will also take into account what the current statistics are on cars most likely to be stolen. Right now, Volkswagens and Toyotas are the most hijacked vehicles in South Africa, followed by Nissan and Ford.
Bonus tip – adjust your cover
If you have comprehensive car insurance, then you might be thinking that downgrading to a third party only form of cover is the best solution to save money. But keep in mind that third party cover only covers the costs of the other driver’s car and not your own.
So, if you are in an accident the damage costs for your own car will have to come out of your own pocket. January is a hard enough month as it is when it comes to our budgets and making ends meet, so instead of downgrading your insurance, find an insurer that lets you adjust your cover.
Flexible car insurance
With Oneplan Car and Household Insurance, we let you adjust your premium based on the price you can afford. And the best part? You can do this from the palm of your hand using our smart Oneplan App. When money is a little tight, simply adjust your cover using our sliding scale.
All you have to do is select a percentage of cover you want, and we will adjust your premium according to this. Our car insurance is ALWAYS comprehensive. Meaning you never have to compromise on insurance to try and save money.
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