Guiding consumers since 2009

Home and Car Insurance

Your property or home and your vehicle may arguably be the most important and expensive assets you own. For this reason, it’s important to ensure that should anything happen to either of these, you’re financially covered.

Home and car insurance give you peace of mind in knowing that should the unexpected strike, you’re able to cover the damage or loss without having to tap into your budget, or dig into your pockets.

It’s a crucial part of our financial lives and health and without it, we can never be sure we would be able to pay for all the potential expenses that may crop up from time to time.

Fill in the form below to get a Home and Car insurance quote.

Which factors affect your home and car insurance?

While these two products differ, there are certain aspects that affect both, as well as the cover that you as the policyholder will receive. These include:

Demographics:
Among the factors which determine the premium you pay for your property or vehicle are your gender, age, occupation, marital status, where you live, and potentially a financial background check.

According to statistics collected by insurers, these give them a good indication of the likelihood of accidents, or break-ins, and the risk involved.

Security measures:
Insurers want to see that you’re also doing your bit to protect your property and/or vehicle. This can be shown by installing a burglar alarm, high quality locks, double glazing, fire alarms, and maybe even smoke detectors. When it comes to a vehicle, a tracking device may also be a good idea.

Having these in place shows that you’re a responsible owner and it may result in a reduction of your premiums.

Another consideration is location. This refers to the area in which you own property. When it comes to your vehicle insurers tend to also want to know where your vehicle is parked overnight.

Different areas have different risk profiles, which are calculated in accordance with the frequency of thefts and other crime such as smash and grabs, hijackings, and home break-ins.

If you stay in an estate or an area with a fairly low crime rate, or your vehicle is parked in a secure garage overnight, chances are your premium will be low and vice versa.

Property or vehicle type:
This simply refers to the type of property and vehicle you own. For example, if you drive a previously-owned Toyota Conquest versus a brand-new BMW your insurance premiums will differ.

Same goes for property. The maintenance of a double-storey property with a thatch roof and a swimming pool will cost more than a one-bedroom apartment or townhouse. Therefore, the premiums will also differ because the risk is higher.

Claims history:
This is often overlooked but it’s a definite consideration both at the inception of a policy or during premium determination. Most insurers are suspicious of people applying for cover who have made numerous previous claims. This is because they view these people as a higher risk and maybe even charge them more. On the other hand, if you haven’t made any recent claims, you’ll often be rewarded with a “no claims discount”.

Home and contents insurance will ensure that you’re able to recover any loss or damage or related unexpected costs. Justmoney can help you find cover that suits your needs at affordable premiums.


Guides

The guide below helps to explain car insurance. If you still have questions after reading the guide, ask our insurance expert or you can also visit our FAQ page.

Related Articles

Featured Prevent your car from being stolen

Vehicle theft is one of the leading crimes in South Africa and it usually spikes during busy periods.So how do you prevent your car from being stolen? Justmoney spoke to King Price’s spokesperson, Wynand van Vuuren, on how to avoid becoming a victim of auto theft.

Read more

New homeowner? Be aware of these extra expenses

You’ve overcome all the hurdles of buying a home. You’ve managed to pay your deposit and your closing payments, and now you’re a proud title deed holder. However, there are other expenses waiting around the corner. Are you prepared?

Read more

Which car insurance is the cheapest for young drivers?

While often seen as too expensive, car insurance is something that every vehicle owner should have. However, this cost increases when it is a young driver, due to the perceived higher risk. But is there a way that young drivers can get lower insurance premiums?

Read more

How carpooling can affect your car insurance

CarTrip is an app and website that allows people to make money by giving people lifts. As the website explains: “Passengers pay a small fee and get point-to-point transportation in a comfortable car and drivers are able to get a cost reimbursement for their costs.”

Read more