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Top-up your car insurance so you don t get caught short

To view all features and options, click here. A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee. A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership. When you take out car insurance, you have a choice to insure your car for either retail or market value. The retail value of your car is based on the “blue book” or the Trans-Union Auto Dealers’ Guide (formerly known as the Mead & McGrouther Auto Dealers’ Guide) and usually reflects the average price at which the vehicle has been sold recently.  Market value is more specific to a particular car and considers factors such as the mileage, condition, scarcity and make of the vehicle.

Here s how one option on your insurance could save you thousands of Rands in an accident

You ve cut your bills down to the bare minimum. And as the realities of a depressed economy sink in, you may be one of the thousands of cash-strapped consumers looking to downgrade to a more affordable car. However, when you take out insurance for that car, be sure to ask the sales consultant about top-up insurance cover.  This is important because when many consumers are battling to make ends meet, the last thing you want is to have an accident where the car is written off and find out that you owe the bank a significant amount of money despite having insurance cover.

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