Is it time to rekindle the spark in your… car insurance policy? Hear us out
Love may come and go but change is inevitable - whether you move, buy a new car or anything in between. If you haven’t looked at your car insurance policy in a while, it might be beneficial for you to take another look and make sure your relationship is still a happy one.
You’ve gone through the process of ensuring you’re protected against any financial loss in the event of a car accident or theft. And that’s it, right? You don’t have to worry about your insurance policy again. We wish that were the case but just like you grow and nurture a relationship, you need to keep the spark alive in your insurance policy.
Why and when should you update your car insurance policy
There are a variety of reasons to relook your insurance policies, and we recommend that you regularly update all of your policies, not only your car insurance. The best news is that you can update your policy whenever you need to. This is because;
- You need to make sure everything is up to date for your policy to be valid
- You need to make sure you and your policy are still compatible
Here’s a list of reasons why you need to put in a little extra effort with your insurance.
1. You got a new vehicle
Getting a new sweet set of wheels is such a treat! But before you head out on long drives to watch the sunset together, don’t forget about your insurance policy.
Did you know that in South Africa, if your new car is financed through a bank, you need comprehensive car insurance? If you pay cash for your new car, comprehensive car insurance isn’t necessarily mandatory but take it from us, you still want that comprehensive cover.
If you already have a great car insurance policy, you will still need to let your insurer know that you got a new vehicle because the value of the new car or any newer features could greatly impact your cover.
2. Your car got a little makeover
If you’ve spoiled your car with some new parts or done any upgrades, you should let your insurer know.
Modifications to the following can have a massive impact on your car insurance;
3. You’ve changed some personal details
Even a change as small as changing your name needs to be reflected in your insurance policy. Your policy having incorrect personal details can impact the validity of your policy. The last thing you want is to make a claim and then run into complications because your details don’t match.
This is what you should let your insurer know;
- You’ve changed your details like your name, gender or physical address
- You now use your car for business reasons instead of personal use or vice versa
- The distance you travel on average has decreased or increased
Some of these changes can also impact the cost of your car insurance as well.
4. Your car insurance policy is no longer serving you
Like in any relationship, you need to make sure you’re still happy. There is very little point in leaving your policy as is if it doesn’t work for you. Make sure you read through the policy again and see where you can make changes so that it still works for you and your budget.
You might be tempted to move on to a new insurer but often if you reach out for some help and work with your policy, you’ll find that you and your policy can have a very happy future!
5. You need more out of the relationship
If you’ve decided to go for third party cover rather than comprehensive, you may be feeling like you need a little more cover. While third-party coverage is a great option, Oneplan ensures that comprehensive car insurance is accessible to everyone, no matter the budget.
Comprehensive cover protects you from theft, hijacking, fire, damage from an accident or total loss, not to mention third party cover as well.
So you’re probably wondering how we make our car insurance so accessible? Well, you can manage your premium directly from the palm of your hand using our Oneplan App.
Our insurance policies are based around your risk profile and some factors like your sex, marital status, age, previous insurance claims, the type of vehicle you have and of course, most importantly, your budget.
After all of this information has been captured, you’re then able to choose your own excess. Nope, we aren’t making this up. You can tailor your insurance policy exactly to your needs and your ideal budget. Talk about love at first sight.
The amount you choose for your excess is a personal choice that is dependent on your needs, lifestyle and budget.
Find out more about choosing your excess here.
No matter what, your motor insurance policy needs to bring you joy and make sure you’re protected at all times. By updating your policy regularly, you’ll be able to make sure your relationship works well for both of you!