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Why the 1st of February is known as Car Insurance Day


The 1st of February is known as Car Insurance Day in South Africa, and with good reason. For an hour on the day, insurance policyholders are encouraged to sit down with their policy schedule and read through it to make sure that they know how their insurance policy works. In this way, insurance policyholders become familiar with their policy schedules, including; exclusions, claim processes, excesses and premium increases – to name a few.

Car Insurance Day has the potential to help many insurance policyholders take ownership of their financial wellbeing. And, in doing so, become aware of the importance of being financially covered in the event of an accident, theft or damage, making this day a day well worth celebrating. Here are a few reasons why you should be joining in the celebration by taking ownership of your financial future:

Safeguard your finances with car insurance

If you’re anything like the general population, you most probably work off a budget. Having to pay for repairs in light of an unforeseen accident is not exactly part of your monthly budget. Comprehensive car insurance will safeguard you from falling into unnecessary debt by covering repair costs.

Car insurance allows you to better plan for the future

Having the financial security that comes with flexible and extensive car insurance allows you to better plan and save towards the future. With most insurers offering discounts when contents are added to your policy, it doesn’t hurt to make sure your vehicle is insured.

You get roadside assistance - for free

A vehicle breakdown in the middle of nowhere after dark is enough to scare many of us witless. With the added assurance benefit of roadside assistance offered by most insurers, you won't be left feeling afraid or have to fork out money you may not have on roadside assistance.

No one controls the weather

Natural disasters such as hail storms can cause damage to your vehicle. Because natural disasters are unforeseen events, we often fail to plan financially for them. Having comprehensive car insurance will take the load off you by paying for costly damage caused by the weather.

Car financers require that you have car insurance

Looking to buy your first set of wheels or maybe you want an upgrade? Car insurance is one of the requirements to apply for finance when looking to purchase a new vehicle. You will also be required to keep your car insurance policy until your vehicle has been paid off.Sleep better at night knowing you’re covered

Peace of mind is one of the greatest benefits that come with taking out your very own car insurance. More than financial security, you can sleep soundly knowing that your vehicle is covered in case of any vehicle emergencies.

As Car Insurance Day approaches, be mindful and aware of the repercussions of not having a car insurance policy that is suited to your needs, financially and otherwise.

Join the community of people who celebrate Car Insurance Day by comparing online insurance quotes and start living your way.


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