Money Down the Drain with Car Insurance Quotes

Here's my personal story. After my insurance premiums have gone up 300% in three years, decided to compare car insurance quotes.

To my surprise I saved nearly six hundred rand in monthly insurance premiums.

I bought my car three years ago. I remember the sales person being surprised at the low monthly insurance premium. It looked like a win-win situation.

A year ago I noticed my monthly premium being three times higher than the initial one. How could it increase at such a rate when I didn't change address and without any accident claims?

I had two claims: one for the left front door window when it was smashed to pieces when someone threw a rock (what do you do when that happens six o'clock in the morning... keep driving!) and one windscreen claim due to driving behind a truck.

I really got fed-up and got new insurance quotes when I had a smash and grab. I phoned the company to enquire about the premium hikes.; They couldn't offer me any better rate.

Guess what ...

I got car insurance quotes from several companies but a well known company quoted me nearly six hundred rand less for exactly the same car and I got a better deal for all my other insurance requirements.

The second reason to check your insurance premium is because the value of your car decreases each year. Are your insurance premiums being adjusted accordingly? Do not assume the insurance companies will do this automatically. Check the market value of your car annually and request a new quote.

With the savings on my new premiums I am paying for the much needed holiday I deserve!