Is the premium higher on a brand new car than on a used car?
A multitude of factors are used to calculate a car insurance premium, the value of a car and the cost of repairing a car are two important factors which can be affected by the age of a car. Whether a car is used or not has no bearing on the premium calculation. What is likely is that a brand new car will be worth more than a used car (assuming the same make and model) which will therefore result in the brand new car having a higher premium, based on the value of the car.
Car Insurance Additional Information
MiWay offers flexible car insurance to cover losses primarily due to an accident or theft.
In addition to accident or theft, comprehensive car insurance in South Africa covers losses due to fire and explosion, natural disasters like hail and floods and damage to the vehicle’s glass.
Additional options such as car hire and cover for non-standard sound systems and car accessories can also be added to your car insurance policy.
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