Your vehicle is probably one of the most expensive and essential items you will own in your life time. You cannot live a successful life without transport, and you probably saved and took out a loan to pay for your car. You cannot predict what the future can bring, and if you are involved in an accident you will want to know that all damage repair will be covered.

Likewise if your car is involved in a fire or is stolen, you will want to rest assured that you are covered for a replacement vehicle. Because your car costs you so much of your hard earned money and because transport is so essential, surely you want to ensure that you will be covered for any eventuality.

Although vehicle insurance is not obligated by law in South Africa, it is strongly recommended. Without insurance, you will not be covered for damage on your own car and you will not be covered for damage that you cause to other vehicles. If you were involved in an accident that was deemed to be your fault you would be obliged to pay for the other vehicle owner’s damages. If you had your own repairs to take care of, the costs are likely to be astronomical.

Insuring your vehicle

If you have decided to have your vehicle insured there are several ways you could go about it. If you know what insurance provider you want to use, you could contact them directly. However, if you would like to compare quotes you could use an online service like CarInsurance123.co.za or Hippo.co.za. With both of these insurance tools you simply type in the relevant details and basic information and you will be provided with several quotes from a range of different insurance providers. You can then compare the quotes on price, what they offer or the company’s reputation.

It is also a good idea, once you have your quote, to try to deal with the insurance company directly. Going through a middle man will make the process far more expensive as they take up to 20 percent of your monthly premium.

Five recommended car insurance providers in South Africa

Below is a list of five of the most reputable and well known insurance companies in the country.

1. Dial Direct

Dial Direct is a long standing company that offers many different types of insurance. Apart from insuring vehicles, they also cover homes and businesses. They offer an online quote system where you can fill in your details and basic information and you will be provided with a quote.

1. 1^st for Women

This company caters only for female clients. They offer a range of insurance policies on vehicles, life and much more and also offer many benefits alongside their insurance packages.

1. Mi Way

Mi Way offer many affordable insurance policies with added benefits like free roadside assistance, rewards for not claiming and fixed premiums for up to three years. You can apply for a quote online or contact them directly for assistance.

1. Outsurance

Outsurance is another well-known insurance company with a good reputation when it comes to vehicle cover. Their car insurance premiums are based on the car owner’s personal risk profile. If you are a low risk driver, you will pay a lower premium. If you go three years without claiming, you will receive a cash reward. You can get a quote on Outsurance’s website.

1. Hollard

Hollard is South Africa’s largest privately owned independent insurance provider and has a huge client base of satisfied customers. Aside from insurance, they also offer saving and investment solutions so that you can make the most of your money with just one company. With Hollard’s car insurance, if you drive less you will pay a lower insurance premium.

Because many South Africans and people all over the world own objects like cars, flat screen televisions and computers that are worth a lot of money, having insurance is an important way to ensure that your belongings will be covered for damage or theft. Getting insurance is a smart decision as without it, you could land up losing valuable items and being unable to fix or replace them. Accidents, crimes and even fires happen daily and it is impossible to predict when, how and to whom the next will befall. In order to ensure your peace of mind, having your assets insured is essential.

Choosing the right insurance company

There is a huge need for insurance and to fill the gap, there are many, many insurance companies in South Africa. Some are long standing and have good reputations and other are relatively new and somewhat unknown. All insurance companies want to have happy customers but unfortunately things do not always go as planned. There are some situations where disagreements or discrepancies can occur between clients and insurance companies, and due to both parties needing and wanting what they believe is due to them, it is often difficult to resolve this conflicts.

Conflict between insurance companies and clients

If you have experienced a difficult situation with your insurance provider, you should investigate further and take action rather than just leaving it. After all, insurance costs you money every month in the form of premiums and you should have peace of mind about how your insurance works. However, as most clients do not professional training on insurance or the law, it can be difficult to understand what is going on and resolve the conflict. Because staff at large businesses are often busy and overwhelmed with clients and therefore can get frustrated, from the insurance company’s side the conflict resolution might not be as efficient and professional as it could be, or it might not be happening at all. There is definitely a need for professional advice and mediation in these situations as both parties deserve to be heard and deserve a fair trial by an unbiased third party.

Insurance ombudsman to resolve the conflict

If you have an issue with your insurance company and you are having difficulty resolving it, the best thing to do is to contact an insurance ombudsman to sort out the difficult situation fairly. One important point to remember, however, is that even if you apply for the assistance, the ombudsman will not represent you. They will act as an unbiased outsider and look at the case fairly. If you are in the wrong you will be held responsible. However, if the insurance company in question is in the wrong, you will have the backing of an unbiased professional to back up your case and help you resolve the situation and achieve justice.

Before you can find a South African ombudsman for insurance, however, you must make an official complaint to the insurance company in question. Take note of the following tips to ensure that you do everything correctly and that there can be no fingers pointed at you for not following protocol or behaving wrongly.

• It is always best to make your complaint in writing as you will have a copy of it as proof, and there will be no room for the temptation to burst out angrily and say something you regret.
• Do not use obscene language and try not to be rude, whether you complain in writing or over the phone. Make sure you do not raise your voice.
• Try to deal with the same person every time and make sure you take note of their name and position.
• List your complaints clearly and logically and stick to the point.

If the company does not get back to you  and resolve the problem, you can then contact an insurance ombudsman to sort out the situation.

In the past, getting just one quote meant filling out forms, sending paperwork and time wasted waiting for an answer from the insurance company. To get more quotes required you to go through the whole process yet again.

Many people settled for expensive insurance when there were much cheaper options available. The internet has made it easy to find several different companies and get quotes in a very short space of time, and there are even companies who, once you have fed in your information and needs, will find quotes for you and narrow them down. The process could not be simpler.

How to find bike insurance quotes

Finding insurance companies is easy. Simply look online in classifieds and business directories. You can also ask around for recommendations. As with everything, make sure you research each company to look for complaints of bad service or dishonesty and factor what you find into your decision.

Some of the bigger companies are more than happy to contact you and send you all the information you could need. There are often several options with different benefits from each company, and so taking the time to consider what your needs are and what you really want from your insurance policy is a good place to start.

Comparing bike insurance quotes

When comparing quotes do not necessarily make your decision based on the cost alone. Before you start, decide what your non-negotiable requirements are for bike insurance, what you would like but could compromise on and what you can afford to spend. Talk to a professional or do some research if you are not entirely sure what you need or want.

When comparing the quotations, look at things like the speed at which you will be compensated, how often you can make changes to your policy, the extent of damage your policy will cover as well as the excess you could be obliged to pay.

Different types of bike insurance

There are several different types of bike insurance policies. The following are several basic types of cover.

• Third party cover

Third party insurance will cover you against any damage you may cause to other vehicles and other people’s property. It is utterly essential for anyone driving any vehicle on the roads. This is generally the cheapest option, but while you save on your monthly payments you will not be covered if your vehicle is stolen or damaged.

• Third party, fire and theft

This type of insurance again covers any damage to other vehicles or other people’s property, but it also pays out if your bike is stolen or damaged by fire. You may have to pay excess on damages, but the insurance company will cover the majority of the expense. Your monthly premiums will be slightly more expensive, but your cover will be far more extensive and it is definitely worth it if you can afford it.

• Full comprehensive

Full comprehensive insurance covers third party damage in the same way as the first two options, damage by fire, theft AND the costs of any damage to your bike. This is the most extensive form of insurance and will definitely give you peace of mind, but it is also the most expensive. Monthly premiums can be very high, which could be frustrating if you never end up needing pay out. Unfortunately, accidents happen and you will not see them coming, no matter how careful you are, and having full cover gives you reassurance that you will not be left without your vehicle should something happen.

If you had to die in a car accident on your way home from work today, the very next thing your family would have to concern themselves with, after dealing with the shock and pain of loss, would be money. There are a myriad of payments involved in death, including but not limited to, the following:

The funeral

Even if you are not religious and do not want a service, the costs of burial or cremation are very high. If you were to have a service of some sort, as is generally the case, church hire, service fees, flowers, the coffin, press notices, the cost of transporting family to the funeral and food and drink for the wake afterwards cost a lot of money.

According to Times Live, a 2008 assessment showed that just a basic funeral can cost up to R9 000, a huge amount of money if you are unprepared for it.

The loss of your salary

It is likely that your salary is either one of two that supports your household, or you are the sole breadwinner. Look at your monthly costs. Without your salary every month, would your family be able to afford their living costs? Would you want to think of your spouse having to leave your home, sell your belongings and your children not go to university?

Debt

As with most people, it is likely that you are paying off debt of some kind. Houses, cars and other household goods and appliances take time to pay off. Would your family be able to make the payments without your salary?

The grieving period

The loved ones you leave behind are unlikely to recover in the one to three days compassionate leave most work contracts allow. With funeral costs, debt and the loss of your salary, taking unpaid leave is not an option.

To sum, the costs of your death would include:

• 1) your funeral, burial or cremation, which, depending on how it is done, could cost between R9 000 and R50 000
• 2) your family losing your income and not being able to afford their living costs, perhaps having to downgrade their living conditions
• 3) your family having to pay off your debt without the help of your salary
• 4) the loss of income if your spouse is too distraught to go back to work after your death

The above makes it clear why it is necessary to have life insurance and why you should not wait to open a policy, but the benefits of a good insurance policy are not limited to these factors.

Other benefits

What would happen if your spouse had to die today and leave you without his or her salary? How would you cope if one of your children passed away and left you with crippling funeral costs for which you weren’t prepared? Depending on what type of insurance you get, your policy could cover the funeral costs for your children or spouse, the loss of your spouse’s income and any loss of income if you should take a mourning period, as well as the costs if you should die.

Costs

There are many different options for life insurance policies and packages. You can choose a package that suits you and your family and that you can afford. Life insurance policies, depending on your needs and income, could cost as little as a few rand a month. With their affordability, there really is no excuse not to open your policy today.

Having peace of mind that you and your family will always be financially secure, no matter what befalls you, will allow you to enjoy to the fullest the short, unpredictable time you have with your loved ones. A good life insurance policy, tailored to your needs and affordable, can provide this reassurance.

One of the benefits of insuring an older car is that you can pay lower premiums – because your car is older and less attractive to  thieves, the risk of theft is lower. On the other hand, old cars can be easier to break in to and may be in demand for the harvesting of vehicle parts.

What can car insurance cover?

• Protect your finances: Even if you car is old, it can still cause injury or damage if it gets in an accident. If you car causes damage to someone else or someone else’s property, you could be liable to pay for damages. Body injury liability and property damage liability are some of the cheaper coverage options when it comes to insurance for old cars.

• Protect you and your passengers: If you or someone else in your car gets hurt your medical aid may cover some of the costs, but you may need extra coverage in the form of medical payments coverage or uninsured motorist coverage.

• Protecting your car: old cars may be worth less than the deductable, so comprehensive and collision coverage may not be worth it as you would receive very little payment from the insurance company.

• Protecting yourself from car breakdowns: Older cars are not always the most reliable, so it may be helpful to include towing and labour coverage in your car insurance scheme.

There are a number of car insurance companies out there, all with different schemes and different premiums so it is worth shopping around for quote to see who can give you the most appropriate cover for your older car at the most competitive price.

Tips to save on car insurance premiums for older cars

• Comprehensive insurance is often not worth it for older cars. If you car is worth less than 10 times what who are paying as a premium, it’s better to stick to fire, theft and 3^rd party insurance. You can also carry out your own insurance by outing money away each month.
• Increase your excess. This will help you save money on monthly premiums and is especially effective if your drive and older or cheap car. With the money you save on premiums, you can open an emergency fund account.
• The market value of your car does not reflect its true value to you, so take care of your car to avoid accidents and mishaps.  The money paid out from an insurance company will not be sufficient to buy you an equivalent car, so drive carefully to avoid anything happening to it. Keep you lock in a safe place and invest in a gear lock and immobilizer.
• Be a responsible driver. Your premiums are determined according to your claims record and if you don’t claim from insurance you can qualify for a no-claims bonus. Avoid claiming for insignificant amounts of money.
• Ask for a discount. Check with your insurance company if you are eligible for any insurance discounts; as a female or driver over 50, for example.
• Check your policy to see that you are not paying for unnecessary extras such as sound system insurance.
• If you combine your car and household insurance you may be awarded a discount on the premium. Consider sticking to one company to reap the loyalty benefits. It can also be easier to deal with one company. However, be sure to compare the quotes against those of other companies so that you can be sure you are getting the best deal possible.

Discovery’s Vitality Drive program is unique in that it uses a DQ-Track telemetrics system that was developed through collaboration with Ctrack. The Ctrack telematics system allows Discovery to measure the way that a client drives: good driving will be rewarded as the cost of insurance will decrease; but bad driving causes the insurance cost to rise. This reward system encourages drivers to change their bad driving habits into good ones and decreases the risk of accidents happening. Better driving means fewer accidents, allowing both the consumer and the company to benefit from the Ctrack technology.

All drivers using the system have the opportunity to review their driving habits and see where improvements can be made to reduce the cost of their insurance. A scientific gauge of driver behavior is measured using proprietary algorithms from Discovery, alongside telematics technology from the Ctrack system.

Why Ctrack?

When they conceptualized Vitality Drive, Discovery choose to partner with Ctrack. The technology for the Vitality Drive plan was developed and manufactured in the Ctrack production facility in Durban. Ctrack is a proudly South African company that aims to continue to develop telematics technology and change the conceptualizations of vehicle insurance.

The accurate driver information and data provided by Ctrack’s GPS/GPRS and RF technologies allow the Discovery team to analyse driver’s behavior and adjust the insurance policy accordingly.

What kind of driver information is recorded?

With Vitality Drive, the following aspects of driver behavior are recorded:

• Harsh cornering
• Braking
• Acceleration
• Location
• Time of day or night spent behind the wheel
• Speed

What are the benefits of Vitality Drive?

If you drive well, you can be entitled to the following benefits with Vitality Drive:

• 40% in fuel rewards when you fill up at any countrywide Bp service station.
• Savings of up to 15% at the local travel partners of Vitality: kulula.com, British Airways, Southern Sun, and Europcar. These savings can be added to your existing Discovery Vitality savings if you are already a member. This means you can save up to 50%.
• With Discovery Card shopping partners you can get up to 15% cash back and add this to your existing savings if you are already a Discovery Vitality Card.
• You can also get a range of passenger safety features and top technologies to keep you and your family safe and protected on the road.

Other telematics benefits

This type of technology not only records driver behavior, but can also provide other useful information such as:

• State of the art vehicle tracking systems
• A SARS accepted logbook
• Automated emergency response (integrating with the emergency response service from Discovery Health).
• GPS positioning information. This is reflected by longitude and latitude, date and time as recorded at various intervals.
• Direction information
• The current status of the vehicle (parked, idling, driving, ignition off, etc.)

How do I get started?

• Join Vitality Drive (you must be a Discovery Insure member)
• Install the DQ-track unit, installed by SmartService at no extra cost.
• Start earning DQ points by driving safely. The DQ system will also ensure that your vehicle is roadworthy and will conduct online safety assessments.
• You can swipe you Vitality Drive card when filling up at BP to earn fuel rewards.

The driving debate settled

Men or women drivers: who are the worst? Perhaps telematics technology figures can provide factual evidence on the different driving behaviors of men and women! Research has suggested that women tend to be in more accidents at slower speeds when cars are close together, whereas men are more likely to have a head-on collision.

It has also been found that men often drive more aggressively and faster than women do, but women are more easily distracted when behind the wheel. The points for driving behavior that are allocated every month buy Vitality Drive may settle the score for good in different households around South Africa.

Cars are expensive assets, so when accidents happen they can be major setbacks as it may take you some time to find the money you need to repair the damage. Remember, you can also be liable for damage to someone else’ vehicle, meaning double the cost. Fortunately, car insurance options have become more affordable and more adaptable. This allows you to choose the plan that best suits your needs and your budget.

These days, there are many car cover options that are customized to suit the individual needs of motorists. New policies for car cover are more flexible than ever before to offer sufficient cover at an affordable price. So, what are your options when choosing car cover? Essentially, there are three different types of car insurance policies that are the standard options that are refined over the years as motorists’ needs change:

• Comprehensive cover: Good for financed, expensive, high mileage or new cars.
• Third party fire and theft insurance: This option is good for older vehicles with average mileage and for vehicles that are mostly paid off.
• Third party insurance: This option is suited to old cars, cars that are paid off and for individuals who have a limited budget.

There are also new insurance options to help you personalize your policy so that you are paying for what you are using, such as:

• Motor Xtender plan: This kind of insurance also covers maintenance and motor repairs.
• Pay As Your Drive vehicle insurance: People who don’t spend much time driving may benefit from paying only when they use their car.

Here are some further details about the various car cover options:

Comprehensive car insurance

As the name suggests. comprehensive car insurance provides complete protection for your vehicle and is best suited to expensive and new vehicles. If your car will accumulate a high mileage it is also worth getting comprehensive cover. If your vehicle is financed by a lender they may require that you have this type of insurance.

What does comprehensive car insurance cover?

• Natural disasters
• Theft
• Damage
• Accidental damage (this covers your own vehicle as well as any other third party property or vehicles that was involved in the accident. It also covers third party accidental death or  injury)

Third party fire and theft insurance

For average-mileage vehicles, cars that are paid off for the most part, and those that are not particularly new or old, consider third party fire and theft insurance. Also known as limited liability cover, this insurance is an affordable option that will cover your vehicle against theft, hijacking, or fire (including lightning and explosions).  Third party fire and theft cover doesn’t insure your own vehicle against damage that occurs accidentally, but it does cover you for injury or accidental death of a third party as well as damage to the third party vehicle.

Third party insurance

This insurance option is usually recommended for old vehicle, people on a tight budget, and cars that are not often on the road. Third party insurance is a low-cost option that covers only third party accidents, such as damage caused by you to a third party vehicle, or injury or accidental death of the third party. Your own car is not covered for any loss or damage.

Motor Xtender insurance

The motor xtender scheme allows you to budget for repairs and routine car maintenance to keep you and your passengers safer when driving. A car that is well-maintained is also less likely to break down or be involved in car accidents.

Pay As You Drive insurance

Pay As You Drive is the new kid on the block in terms of car insurance, catering for people who don’t spend much time on the road. This comprehensive plan’s price is calculated according to how much time you spend on the road.

The Suid-Afrikaanse Nasionale Trust en Assuransie Maatskappij (Santam) was first registered on 28 March 1918. However, before the group even registered it was decided that the life insurance department would be converted to a separate company. Thus, the Suid-Afrikaanse Nasionale Lewens Assuransie MaatskappijBeperk (Sanlam) was registered shortly after Santam on 8 June 1918. In 1935, Sanlam acquired the African Homes Trust (later renamed Metropolitan Life) from parent company Santam. Today, Sanlam is the leader of the organisation.

Santam Logo Image:

Sanlam Logo Image:

The Sanlam head offices are in Bellville, just outside Cape Town in the Western Cape. The group was demutualised in 1998 and was listed on the Johannesburg Stock Exchange.

In other words, you can see Santam as the parent company, which gave birth to Sanlam in order to convert the life assurance department of Santam to a separate company. This means that long-term profits (for policy holders) are separated from short-term profits (for shareholders). Sanlam became the spearhead operator and Santam kept its focus on short term insurance solutions. The short term insurance cluster offered by Sanlam is actually outsourced to Santam (in which they hold 57% shares) and the 26% shares Sanlam has invested in Shriram General Insurance in India.

So between Santam and Sanlam – what’s the difference? The answer is that they are two different companies born from the same group of people who envisioned a separate structure for different insurance policies. The companies remain connected, however, as Sanlam refers their short- term insurance clients to short term insurance providers Santam.

Sanlam has become the leader of the operation. You may then ask, why don’t Sanlam simply buy out Santam? Sanlam owns 57% of Santam, but to buy the company or to increase their share would mean that they would have to pay a huge premium (substantially more than the market price) and make the transaction not worthwhile.

Santam is the largest short-term insurance company in South Africa and has been showing excellent turnover in the last few years. The Chief Executive Officer of Sanlam says that they would like to own more of the company, but are prevented in doing so by the high premium.

About Sanlam

Sanlam has grown from being a life insurance company to include a number of financial services offered by the company. Sanlam provides financial products to both institutional and individual clients, providing a range of services such as:

• Trusts
• Personal loans
• Home loan
• Estate planning
• Individual insurance
• Group insurance
• Short-term insurance (through Santam)
• Savings and similar products
• Investments
• Asset management
• Stock broking
• Property asset management
• Risk management
• Capital market activities

Like the short term insurance offered by Santam, many of the above listed services are offered from business entities that are mutually dependant within the Sanlam group.

About Santam

In the short-term insurance sector, Santam has a market share of over 22%, focusing on commercial, corporate and personal markets.

Santam has an asset accumulation of over R17 billion as the leading short term insurer in South Africa. Santam has set up a high tech contact centre to serve the whole country and has over 650 000 policy holders. Santam also extends its scope to include other African countries such as Malawi. Zimbabwe, Uganda, Zambia and Tanzania. There is also a subsidiary group in which Santam hold strategic investments, Santam Namibia Ltd. in Namibia.

The company considers it core strength to be the relationship between clients and insurance brokers. Although Santam have confidence in the abilities of their experienced brokers, the company also offers other channels of communication and access to their insurance products.

What products and services do Frank offer?

• Life Cover: When you die, you want to leave some money to those left behind. Frank will pay out a lump sum of up to R10 million (tax free) to your chosen beneficiaries. You also have the choice of decreasing or increasing your cover whenever you want to. The premium you pay monthly depends on the type of cover you want, as well as your income, gender, lifestyle, hobbies and occupation, education and state of health. If your lifestyle changes in any way (if you change jobs or hobbies, stop or start smoking, for example), you need to tell Frank so that that premiums and pay out can be adjusted accordingly. If you neglect to do this, future claims may be refused or reduced, so it’s best to be “frank” about your current lifestyle choices.
• Salary Protection: If you are sick and injured and are temporarily out of work, or if you get retrenched, Frank’s salary protection scheme can help you to pay the bills that keep on coming. With salary protection form Frank you can be paid out in monthly instalments of up to 75% of your salary. This means that you will still be able to meet the costs of your vehicle, bond, utility and grocery bills that won’t stop working just because you have. A loss of income can be caused by a number of factors, from accident or illness to a disability. If you lose your incomes but still have premiums to pay and other expenses to meet, you could find yourself digging into savings (if you are lucky) or struggling to make ends meet. If you choose to insure this income with salary insurance, Frank will pay you out on a monthly basis, calculated by your previous earnings. If you change jobs, you must let Frank know or you could risk losing your cover and having it reduced should you need it.
• Disability cover: Accidents and illness can happen and if you are left unable to do your job, you will be able claim a lump sum from Frank (up to R5 million) to maintain your lifestyle and live under new circumstances. This kind of cover is not designed to cover medical costs (Frank will let the medical insurance take care of that). Rather, the payouts from Frank are intended to compensate for the illness and help you adjust to your new lifestyle. You can see this lump sum payout as a way to help you adapt to your new lifestyle; this may involves making your home more disability-friendly or adjusting other aspects of your life and environment accordingly.
• Serious illness cover: with serious illness coverage you can use the cash payout however to see fit – whether this is to support medical costs or daily living expenses. If you suffer from a stroke, heart attack, open heart surgery, or cancer, you can be paid up to R2 million.

Why Frank?

As a registered financial services provider, Frank sell a variety of life cover products without using the services of a broker. This means no middle-man, and more money for the rest of us! As the name suggests, Frank steer clear of misleading descriptions and jargon, aiming for direct and honest service that is transparent and won’t leave you in the lurch when your life depends on it.

Contact Frank

For more details about the life insurance options offered by Frank, visit their website on http://www.frank.net/.  The company is based at 11 Adderley Street in Cape Town, but you can simply give them a call on 0860 600 006 or shoot an email to info@FRANK.net. You can even shoot straight for the stars and email the CEO of the company on lenerdlouw@FRANK.net.

Well there are a number of organisations that are dedicated to providing you with a number of quotes and comparing them for you so that the whole process is simplified for you.

Now in South Africa, it is nearly impossible to not have seen or heard an advertisement by Hippo.co.za. This organisation is based purely on comparing quotes for what ever kind of insurance you are looking for. Their latest adveritsing offering includes a rework of a popular song that gets stuck in your head and has the copy line of “You the need the Hippo to combat quotes” and this is exactly what they do. So no matter what kind of insurance you are looking for, you can rely on Hippo get the most competitive quote for you. What is more is that they even offer insurance tips to the visitors to their website.

Hippo is not alone in this market of comparing quotes, however they are the most well known due to their extensive advertising campaigns. Other quote comparison sites include the following:

• www.compareinsurancequotes.co.za
• www.businessinsurancequote.co.za
• www.insurance.co.za
• www.insurancequotes.org.za
• www.pricenet.co.za

There are so many of these sites available if you search for them that should you end up paying more than you needed on insurance, you could be considered a fool as the tools are there for you to use and save you heaps of money.

One of the best things about these comparisons is that it forces the insurance companies to offer their customers more competitive prices. Therefore insurance companies will lower their prices in order to meet their customers needs through supply and demand comparison. Should you wish to compare quotes yourself rather than leave it up to one of the websites listed above, then here are some tips for you.

1. Analyze the benefits that each insurance company is offering. These benefits need to be compared against the costs involved with the benefits as unfortunately with insurance you seldom get anything for free.
2. If you are a small business, you need to scrutinize these insurance costs more closely than your big business counterparts. The reason for this is that you will have a lower income and therefore in order to make a profit, you do not want to waste money on things that you could have gotten at a much cheaper rate.
3. If you do not understand exactly what is being offered by each insurance company, then it would be best to get someone in the know to help you decide on which insurance will offer you the best benefits for the lowest cost.

No one wants to pay more than they need pay on their insurance, however with this said you cannot just go with the cheapest quote you get. You need to scrutinize the quotes and the policies that you would be signing in to as there may be fine print that you have missed and which could come back to bite you in the future. It is therefore essential to compare quotes of top business insurance companies, even if they have a good reputation.

By doing so, you could save yourself thousands of rands every month that add up especially if you have a small business.  There is nothing wrong with being precautious with your money and scrutinizing your policies.