When times are tough, we understand that people try to save money wherever they can. But never compromise on quality insurance of your most prized possessions. At Santam, we feel there are always ways to structure your policy to suit your pocket so you’re properly covered and we can pay your claim. Let’s look at ways to do this. How to afford quality insurance First of all, do a quick run-through of your lifestyle, profile and assets. These are the factors that determine how much you are charged every month. Things change all the time – for example, you may have installed extra security measures around your home and not told us, or you’ve changed jobs and your car is now parked in an underground garage instead of outdoors. Perhaps your student daughter now has a job and no longer lives in a high-risk city area. Just by updating your profile, you may find that your premium decreases or that you risk profile has changed. Saving on car insurance premiums Consider Third Party Only car insurance: This is the minimum amount of cover you can give your vehicle, making it the cheapest there is. Raise your excess payment: The greater your excess is, the lower your premium. During the quotation process, you will be asked to select the amount of voluntary excess you will be prepared to pay in the event of a claim. Although there is a compulsory excess amount, you can always choose to increase this. This would mean paying more out of your pocket, so make sure you can afford the higher excess amount. Pay for smaller damages yourself: If you are able to keep a rainy-day fund for smaller nicks and dents, you will manage to stay claim-free for longer and get a big reduction on your premium. Make sure the correct person is noted as the regular driver: Your risk factor is determined by the person who most often drives the car, so be sure to keep this information updated. Install additional security features: Although we know this means spending more money, drivers who install tracking systems in their vehicles could benefit from a lower premium. Vehicle tracking technology could also impact your risk profile, as it will be easier to recover your car in case of a theft or hijacking. How to reduce home insurance payments Increase your excess payment: The greater your excess is, the lower your premium. During the quotation process, you will be asked to select the excess you will be prepared to pay in the event of a claim. Although there is a compulsory excess amount, you can always choose to increase this. This would mean paying more out of your pocket, so make sure you can afford the higher excess amount. Pay for smaller damages yourself: If you are able to keep a rainy-day fund for smaller repairs, you will manage to stay claim-free for longer and reduce your premium. Upgrade security features: Installing a home security system or upgrading your existing security measures can decrease insurance premiums – plus ensure that you are safer. Also join a neighbourhood or block watch, as some insurers will offer reduced rates to homeowners who belong to these types of organisations. Tip: Combine your car, home and building insurance to reduce your insurance premium. To get a quote and cover that will be sufficient for you please contact Sandy in our Short – Term Department, email shortterm@daberistic.com , tel (011)658-1333 Source: Santam Comments are closed.
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AuthorKevin Yeh Archives
January 2025
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