Have you updated your insurance profile recently?
Are you paying too much for your motor vehicle insurance? Many car owners pay too much for car cover - not because the insurance company is purposely charging high premiums but because policyholders are not reviewing their policies at least once each year.
Yesterday, having seen an ad on TV, I decided to get an updated quote for my motor vehicle insurance. Money is tight and we're all looking for ways to say a bit here and there. But I was somewhat shocked to discover that a competitor could offer me a R1000 saving on my existing premiums!
Being with Outsurance for over 12 years I have received excellent service, but a R1000 saving from a competitor is definitely something to think about. That's a lot of money in the bank each month.
Before taking any drastic action I decided to call Outsurance to find out how a competitor can offer me such a large saving on my monthly insurance premiums and the discovery that I made was one that I felt should be shared.
Update your policy
Did you know that you can save yourself a lot of money by simply updating your policy every six months?
Whether or not your personal circumstances change or not, your policy details are revised on an annual basis:
- No claims during the year will reduce your personal risk factor
- Depreciation on a motor vehicle on an annual basis
- If you move, change jobs, or retire - all of these factors greatly affect your monthly premiums
- Length of contract with service provider can bring about substantial savings
All these factors can bring about substantial savings on your monthly premiums.
Money in the bank
Please bear in mind that this is not an advertisement for Outsurance, but rather to let you know that it is essential that you keep your policy updated and conduct an annual review.
While we may feel that car insurance is a drain on monthly expenses - it is a neccessity. But that doesn't mean it has to cost more than it should. Before you think about switching providers for a cheaper rate, consider the options. The bottom line for me is a saving of over R1000, and that's without having to change to another service provider.