How To Shop For Car Insurance In 2021

Shopping for car insurance in 2021 may seem easier because of the advancement of technology and all the information readily available at the click of a button, but can become confusing and difficult to sift through the wealth of information available and find the right type of insurance cover to suit you and your lifestyle. Even existing car owners may find it difficult when looking for comparative insurance quotes.

So how you go about shopping for car insurance in 2021? We’ll break it down for you.

Great insurance cover is like a good friend that covers more than just your back, given you do your bit by reciprocating and investing in the friendship. While cheaper insurance options may seem attractive and more in line with your budget, they may cost you more in the long run.

Here are a few pointers to keep in mind when shopping for insurance, to get you started on the road to affordable car insurance:

As a new car owner looking to buy car insurance for the first time, you’ll need to do some research so that you are (more or less) familiar with why it’s a good idea to have car insurance.

  • If you already have insurance, get hold of your current policy documents (they might be called a policy schedule, or a coversheet) so that you can compare your current cover and monthly premium with that of a new insurer or upgraded car insurance cover.
  • Compare insurance quotes. Shop around for car insurance by comparing and documenting your findings. Use a spreadsheet, notebook, Word document – whatever’s easier for you. Look at the level of cover you will get, what each option will cost monthly, what the excesses are, and see how you can budget to meet your monthly premiums.
  • How would you prefer to buy insurance? You’ll find that different insurers offer different ways to get an insurance quote. You might need to contact a broker, phone a call centre, download their app, fill in an online form. See what suits you – and whether their process suits your lifestyle. Have a look at how their claims process works.

When looking to purchase a new car insurance policy, or simply upgrading an existing one, the objective is to find the most comprehensive car insurance that is not cheaper but rather one that is in line with your lifestyle, budget and your insurance coverage needs.

With MiWay, you can choose the level of insurance cover for your vehicle:

  • ‘Comprehensive’ insurance cover provides the widest cover and covers for theft and hijacking, damages due to an accident, fire or explosion and natural disasters like hail and floods. Comprehensive insurance cover also includes damage to the vehicle’s windows and liability to other parties as a result of an accident, as well as intentional damage to your vehicle.
  • ‘Third-Party, Fire and Theft’cover provides insurance cover for your car against theft, fire-related damages, and damages you may have caused to another person's vehicle during an accident.
  • ‘Third-Party Only’insurance cover provides liability cover for any damage you may cause to the property of another person. Damage or loss to your own vehicle is not covered.
  • ‘Total Loss’ provides insurance cover to clients for the total loss of their vehicles only due to write-offs, theft or hijack, as well as limited third-party liability. Accidental damage that does not result in a total loss is not covered.

After taking into account the information provided above, the next logical question would be what the cost of car insurance is in 2021? To thoroughly understand the answer to that question it is important first to sift out the myths associated with car insurance.

What is the cost of car insurance?

The cost of car insurance can vary from insurer to insurer. One of the best ways to find the insurance premiums and packages is to compare online insurance quotes and match those up to what your insurance coverage needs are. The cost of insurance is also dependant on the risk profile of the individual.

How to get a car insurance quote

As we’ve mentioned already, , getting a car insurance quote can be done from from an insurer’s website, app or over the phone. Instant chat messaging services, also known as chatbots, have become a popular means of communication on insurers’ websites and provide a convenientcustomer experience.

With many vehicle owners wondering when the right time may be to shop around for other insurance, this little bit of information may just be the answer to that question.

Factors that may affect your car insurance premium:

  1. Your history as a driver
  2. Where you live
  3. Where you work
  4. How often you use your vehicle
  5. How many cars you have insured with one provider
  6. If you have more than one item insured (e.g. your building or home contents, you may get a discount.

It’s important to note that each of these factors could affect your monthly car insurance premiums and is taken into account yearly by your insurance company. So if you move house, get married or change jobs – let your insurer know!

While we’re on the topic of keeping a tight lid on your financial commitments, here are a few tips on getting the best in affordable car insurance rates:

  • If you’re a first-time vehicle owner and happen to live at home with your parents or siblings then a multi-car discount could be the insurance saving that you’ve been looking for. Chat to your insurer to find out if you qualify.
  • Consider downsizing your vehicle to get a cheaper car insurance premium. SUV’s and more modern vehicles are more expensive to insure.
  • Upskill your driving capabilities by taking an advanced driving course. Some insurance companies offer discounts to drivers who have acquired the skill of advanced driving.
  • Increase your excess. Speak to your insurer about increasing your excess as this will possibly reduce your monthly car insurance premiums, resulting in more affordable insurance, given that you do not claim excessively. Keep in mind that you will need to be able to afford the higher excess, should you need to claim.

These are only a few of the tips that can help you get the best car insurance rates and possibly save you money in the long run. Comparing car insurance is the most important of these tips, and can give you a clear indication of the current car insurance prices, thus enabling you to make a calculated decision.

Shop for the best car insurance with an insurer that not only provides competitive insurance rates but allows you to live your way. MiWay offers comprehensive car insurance for drivers young and old. With extensively packaged insurance products and premiums tailored to match your budget, shopping for car insurance in 2021 just got easier and more affordable.

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