Tuesday, November 10, 2015

In recent market research* for South Africa’s leading insurance and financial services comparison website Hippo.co.za, some interesting insights were presented regarding which cars are the cheapest to insure in Gauteng.

“The research provided us with in-depth insights, one of which is that the two most common cars owned in Gauteng are Volkswagens and Toyotas, and almost half of the cars owned were manufactured in the last five years,” says Derek Wilson, Head of Hippo.co.za, the online insurance and financial services comparison website. “Furthermore, the research concluded that on average, Peugeot drivers have the lowest monthly premiums and excess amounts, while Mercedes-Benz drivers have the highest monthly premiums, and Ford drivers the highest excess amounts.”

There are also other factors* that could either decrease or increase your monthly car insurance premiums:

  • How often and how far you drive. People who use their car for business and long-distance travelling normally pay more than those who drive less.
  • Where you live. Due to higher rates of vandalism, theft and accidents, city slickers pay more for Car Insurance than those who live in small towns or rural areas.
  • Your driving record. If you are accident-prone or have a long history of bumper bashings, you are bound to pay more than those who have been accident free for years.
  • Your age, sex and marital status. Accident rates are usually higher for drivers under the age of 25, especially young males and single males.
  • The size of your car. Larger cars are generally safer than smaller cars in an accident. Therefore, many larger cars with good safety ratings have lower premiums than smaller cars with otherwise similar ratings.
  • The colour of your car. Due to a non-visibility factor, black cars are more expensive to insure than, for example, white cars. Some cars also pose a higher risk of being stolen based on the popularity of their colour.

“Because every driver’s portfolio looks different, there simply cannot be a one-size-fits-all approach when it comes to Car Insurance,” concludes Derek. “For this reason, we strongly recommend comparing with Hippo.co.za before you sign up for Car Insurance. Our user-friendly website will grant you access to multiple quotes in a matter of minutes. One in two people could save hundreds of Rands per month** on their Car Insurance alone by comparing before they buy or switch insurance companies,” concludes Derek.

« Go Back