STUDENT LIVING: Tips on how to keep your vehicle covered

Image: Pexels

Whether you are shopping for a new car or you already have one, you will agree car insurance is a critical must-have.

If your vehicle is broken into, hijacked, stolen or damaged in an accident, the unexpected costs of repairs or replacement can be extremely high. You need insurance to have your back.

In some countries, the law does not require drivers to have insurance when they buy a car.

However, if your car is under finance in South Africa, you must have full comprehensive car insurance.

“Any vehicle financed through Ford Credit must be insured,” explains Gerald Hong, brand, marketing and sales manager for Ford Credit SA.

Ford Credit can facilitate comprehensive insurance that covers your vehicle in full, as well as any damage to the property of a third party.”

Whether your car is under finance or paid-off, insurance is an important consideration.

ALSO READ: VIDEO: Car ‘thief’ caught red-handed in east

Taking out an insurance policy is a significant additional expense and there are many options from which to choose.

“Aside from shopping for the most cost-effective insurance, it is important to understand exactly what your insurance covers,” says Hong.

“Vehicle insurance is not a one-size-fits-all product and you need to make sure you get the right cover for you.”

When purchasing a policy for your new car, it is important to understand exactly what the policy covers.

The following are important factors to consider:

· Protection against claims arising from damage to the vehicle or the property of any third party.

· Third-party claims by passengers.

· Cover in the event of hijacking, theft, break-ins, fire, or total write-off.

· Towing and storage costs.

· Sound system and radio cover.

· Windscreen replacement cover.

How much does it cost?

Insurance companies determine individual premiums based on a number of factors.

The two biggest factors involve you and your vehicle.

ALSO READ: What you need to renew your car licence disc

Essentially, the insurer will consider your risk profile and the value of your vehicle – the higher the cost of repair or replacement, the higher the premium.

Do you have more information about the story? Please send us an email to [email protected] or phone us on 083 625 4114.

For free breaking and community news, visit Rekord’s websites:

Rekord East

Rekord North

Rekord Centurion

Rekord Moot

For more news and interesting articles, like Rekord on Facebook, follow us on Twitter or Instagram

 

  AUTHOR
Danielle Garrett

Latest News

COMMENTS

Top
Next Story x
Health MEC urge citizens to take precautions

Thanx for your referral. We have no doubt your friends will love our newsletter as much as you!

Don't forget to verify your email.

to our FREE newsletter
SUBSCRIBE to our FREE newsletter.




SELECT your titles:

Centurion Rekord
Rekord East
Rekord Moot
Rekord North


Your details:


Your friends: