As women, car insurance quotes is just one of the many admin jobs we end up being delegated with. Do you really know all there is to know, to get the most value out of your car insurance?

Up until we actually needed our insurance a few years back, I felt like we were just throwing money into the toilet every month for “in-case” something happens. Well let me just say -“in-case” happens a lot more than you think. So no, this isn’t a “how to get out of paying insurance” pitch. Rather, this is a “did you know?” kind of, “you will thank me later” pitch. Take it as advice from someone who has made the mistakes and lived to tell the tale…

car insurance

The cheaper option isn’t always the right option

As tempting as taking the option with the highest excess may seem, because it brings your monthly premium right down, it really isn’t a good idea. Accidents happen at the worst times – thanks Murphy! – and if you have an accident you’ll have to pay the excess amount that you chose. Sometimes, paying a small additional amount can save you mega-bucks later. This is one of those times!

Likewise when choosing to insure your car for retail verses trade value. Retail is always the most expensive option but should your car be a right off… Being paid out only trade value may sting a bit in terms of what you have lost.

And, if you are still paying your car off (as most of us are!) look for an insurer, like King Price, which offers a credit shortfall option. This cover is the difference between what your car is worth at the time of an accident or theft, and what you still owe the bank.

Your car is insured only for “accidents”

Yep, of course we all already knew this. Or did we? An accident doesn’t include your starter giving in. Your turbo blowing up or your engine seizing. So what now? These are things that are more probable than an accident right? Maybe, but that’s what warranties  and extended warranties are for.

car insuranceYour insurance premium should come down as your car’s value depreciates

King Price offers car insurance premiums that reduce every month as your car loses value. They’re the only insurer to do this and, when you think about it, why should you only ever pay more to insure something that’s always worth less?

Bag stolen out of your car? Shame.

Just like how you insure your home under buildings insurance and have to insure everything in your home separately under home contents insurance… Having car insurance doesn’t mean that all the things you carry in it, like you laptop, cellphone and handbag are also insured. If your insured car is broken into, you could claim for the damages to your car – but unfortunately not the losses from the car. You need portable possessions cover for the things in your car.

Now that you know more about insurance, it’s probably a good idea to get the best cover for the things you love… Remember that King Price offers a multiple car discount, R1 insurance for some of your favourite things and car insurance premiums that reduce monthly. They’re not known as the king of price for nothing!

But don’t take my word for it, get an online quote here and see for yourself.

Disclaimer: This post is sponsored by King Price Insurance but all information and opinions are my own

In the Meantime – Is there anything you can add to this list? Things we all should know about insurance? Let me know in the comments…

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