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How do I select an insurance company to arrange new or used car insurance with for my new car?
There are four main considerations you need to take into account
when picking your insurance company
1.PRICE
Many companies sell car insurance policies and prices vary greatly from insurance
company to insurance company, so it really pays to shop around when you want to insure that new car you just bought.
Get at least three new price quotes from different companies and/or brokers.
Search the media and internet for various options
2.INSURER STABILITY
You buy insurance to protect you financially and provide peace of mind.
It's important to pick an insurance company that is financially stable
so you they will able to handle your claim(s) when it time for them
to pay any car insurance claims.
The following companies is rated as reliable (by us) for car insurance
in South Africa. These companies has a sound financial status and have
the ability to handle your car insurance claims fast and effieciently. Here's a list of insurance companies in South Africa.
a) Santam Insurance
Rated the No. 1 shortterm insurance company in South Africa
in 2005. Santam is also the biggest shortterm insurance company
in South Africa. Santam is in the insurance business for more than 100 years.
More detail about Santam at : www.santam.co.za
b) Mutual and Federal
The second biggest insurance company in South Africa.
Only Santam Insurance has bigger market share in South Africa. Part of the Old Mutual group of insurance companies. Offer house and car insurance.
More about Mutual and Federal at : www.mf.co.za
c) Unity Insurance
Part of the Telesure group of companies.
Other companies in the group is Auto and General Insurance, Budget
insurance, First for women, Dail Direct.
This company has the backing of the Telesure group and is one of the frontrunners
in Black Economic Empowerment ( BEE ) in the insurance industry in South Africa.
More about Unity at : www.unity.co.za
d) AIG South Africa
Part of the big American International Group.
More about AIG at :
www.aig.co.za
3.
SERVICE
Your insurance company and/or broker should answer your
questions and handle your car insurance claims fairly, efficiently and quickly. One of
the best ways to get an idea
about service is to ask friends/family/collegues about their experiences.
Nothing carry more weight than a personal reference when shopping for
car insurance rates
.4.
COMFORT
You should feel comfortable with your car insurance purchase.
Whether you arrange it through
a broker, directly from the company over the phone ( eg.OUTSURANCE or Dail Direct
etc.), or
over the Internet. Make sure it will be a company that is easily reachable
should you
need to make a car insurance claim.
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