Car Insurance Calculator

From daily highway commutes to exploring lonely country roads, having a car of your own is sure to give you an unmatched sense of independence and freedom. But for all the fun that you can have making memories on the open road, there are responsibilities that come with owning a car.

Whether you’re a first-time owner or upgrading to your dream car, it’s essential that you have car insurance that provides enough cover to ensure that you’re taken care of in the event of an accident or theft.

At 1st for Women, we focus on car insurance specifically designed for women to help them navigate all of life’s roads. With comprehensive and basic options as well as lifestyle benefits, our offering will give you piece of mind behind the wheel.

If you’re getting behind the wheel, it’s wise to consider a car insurance product that will look after you and your loved ones while you’re on the open road. Read on to discover everything there is to know about car insurance premiums.

How are car insurance premiums calculated?

Your car insurance premium is based on your risk profile, which is drawn up by assessing how likely you are to claim. A car insurance premium calculator takes a variety of factors into consideration. Some of these have to do with you and your lifestyle, while others are related to your vehicle. For example:

• Your age and occupation.

• Your address.

• Whether your car is kept in a garage or parked on the street at night.

• Who usually drives the vehicle.

• What you use your car for.

• Your driving and claims history.

• The make and model of your vehicle.

• Your average annual mileage. 

These characteristics all affect your probability of being involved in an incident that will prompt you to make a claim. Younger drivers and those who have had their driving licences for a short time are more likely to have an accident. This increased risk means that the car insurance calculator will estimate a higher premium. In the same way, what you do for a living will affect your premiums. Someone in a job that involves lots of driving and long hours on the road is more likely to be involved in an incident than a person who is desk-bound for most of the day.

With such a wide variety of subjective factors to take into consideration, the best way to work out how much your car insurance will cost is to use a car insurance calculator for South Africa. This will ensure that you get an accurate quote based on local statistics.

Is the minimum amount of car insurance enough?

At 1st for Women, we offer three levels of Car Insurance: Comprehensive Car Insurance; Third-party, Fire Insurance, and Theft Car Insurance; and Third-party Only Car Insurance. As the name suggests, Comprehensive Car Insurance is the most extensive product we offer, covering theft, loss and accidental damage, along with third-party and fire damage. With Third-party, Fire, and Theft Car Insurance, we’ll cover your vehicle in the event that it’s stolen or damaged by fire. And we’ll repair any third-party damage you might have caused in a collision. 

The minimum amount of car insurance that we offer is Third-party Only Car Insurance. This is insurance specifically design for women who are looking for the basics. It covers only the damage you may cause to someone else’s property. Unfortunately, though, you will be liable for repairing any damage that’s done to your own vehicle – unless you aren’t at fault. However, having Third-party Only Car Insurance is a better choice than foregoing cover altogether. Being involved in an accident and having to repair the other party’s property has the potential to be financially crippling.

While Comprehensive Car Insurance certainly gives the best coverage, it’s best to use an online insurance calculator to see which of these three types of insurance will provide you with the most value for money.

Is foregoing car insurance legal?

Car owners in South Africa are not legally required to insure their vehicles. Only if the car was purchased using a loan from a financial institution like a bank will car insurance be compulsory. Thankfully, this doesn’t mean that you are completely unprotected if you are involved in a collision when you or the other driver aren’t insured.

The Road Accident Fund provides third-party insurance for every driver in South Africa. However, the coverage is extremely limited and claiming is often a long and drawn-out process. Although about 65% of South African drivers rely on the fund’s insurance, it only provides protection from liability in the event of death or injury. If you cause damage to another person’s property in a collision, they can claim financial compensation from you.

It might be tempting to skip the cover and hope you don’t have an accident when you receive a quote from a car insurance premium calculator, but we wouldn’t advise going without protection. Taking out comprehensive insurance is the best way to ensure that you are protected in all eventualities. Whether your car is new or used, you’ll have peace of mind knowing that you, your loved ones and your vehicle are covered. 

Will my premiums change if I move?

Where you live affects your car insurance premiums. When a car insurance premium calculator works out the cost of your cover per month, it takes a number of factors into consideration. Insurance providers like 1st for Women look at things like the average number of claims per person in your area, the crime rate, and the general driving behaviour of those around you, and how likely they are to be insured. 

Besides these subjective factors, there are a few external influences that will have an effect on how much you pay for car insurance. For example, population density and weather conditions will play a role in determining how likely you are to claim. In a big city with thousands of vehicles on the road and complicated intersections, fender benders are almost a certainty. And a car insurance calculator in South Africa could generate a higher quote for drivers in Johannesburg than those in Cape Town because Gauteng’s harsh winter hail storms can leave cars in need of repair.

As where you live affects your car insurance premiums, moving will certainly have an impact on how much your cover costs. An online car insurance calculator can provide an accurate car insurance quote that takes into account all of the factors that determine your premium.

How can I lower my car insurance premium?

Often one of the first things to go when there’s a pinch in finances, car insurance premiums are often more costly than they need to be. There is a seemingly endless number of factors taken into account by a car insurance calculator, but you can do a few things to lower your premiums:

• Ensure your car is covered for its market value. Your car depreciates every year and your premiums should track these changes, decreasing annually.

• Increase your vehicle’s security. Your car insurance premium is based on your risk profile. One of the factors considered when creating your risk profile is how likely you are to fall prey to theft. Fitting your car with an alarm system could reduce the likelihood of your car being stolen, while a tracker increases the chances of recovery. Both of which decrease premiums. Keeping your car in a basement or a locked garage will also help to minimise monthly costs.

• Combine your insurance policies. Covering your car and home through the same insurance provider will likely result in lower premiums.

• Keep your personal details up to date. Just like increasing your car’s security, moving to a safer neighbourhood and driving fewer kilometres could reduce your insurance premium. Let your insurer know as soon as your particulars change.

• Avoid unnecessary claims. The more you claim, the higher your premiums will be. Rather cover minor scratches and dings yourself, reserving your insurance for major incidents.

Following these simple tips is quick and easy, and almost certain to lower your car insurance premium.

Car Insurance with 1st for Women

At 1st for Women, we offer Car Insurance specifically designed for women to help them navigate life. We offer three levels of Car Insurance to give you cover that suits your lifestyle and budget: Comprehensive car insurance; Third-Party, Fire, and Theft Car Insurance; and Third-party Only Car Insurance. In addition to covering your vehicle, our products include our Guardian Angels Lifestyle Assistance, which will keep you and those you love safe whether on the road or at home.

With all the freedom and financial responsibility owning a car provides, protecting your investment with car insurance specifically designed for women on the move is a sensible choice. That way, there will be no need to worry when life hits you – or your car – with the unexpected.

Get a 1st for Women Car Insurance quote today by calling us on 0861 00 33 29 or by completing our Car Insurance quote online.