|Insurance Buying Tips #1: Shop smart|
|When looking for insurance, your No. 1 priority should be to find adequate coverage. Price is important, but you’ll want to determine what kind of coverage you need first. Then you can fit that coverage into your budget and determine which carrier can provide you with the most comprehensive policy for your situation. You may be tempted to choose insurance with the lowest price tag, but if you don’t have enough coverage (or the right kind of coverage), you will see less financial benefit when it comes time to file a claim.|
|Insurance Buying Tips #2: Look for discounts|
|Once you evaluate your coverage needs, factor in your budget and find ways to save. Ask your insurance agent if there are any discounts on your coverage. Often, carriers offer discounts for things like paying your policy in full, staying auto accident-free or, if you’re in school, getting good grades. You also can save money by “bundling” multiple policies, such as purchasing a home and auto policy from the same carrier.|
|Insurance Buying Tips #3: Fill in the gaps|
|An average policy will cover the basics, but you may need to add extra coverage to meet your unique needs. For instance, you may have items like electronics or a nice piece of jewelry that would be financially difficult to replace, even with the assistance of your average renters or homeowners policy. You may want to add additional coverage for these items.|
When it comes to driving on South African roads, learner drivers need to be wary of a handful of safety hazards and take a number of precautions, which can often be overwhelming. Not only does a learner driver need to be aware of the erratic and unpredictable habits of motorists, they also need to be aware of the clause that is set out in the car insurance policy of the vehicle that they are driving.
Being a learner driver in South Africa is not easy – the rules of the road are simple to learn, however, it is getting used to the behaviour of other drivers that requires some patience and persistence. A few helpful tips will ensure that learner drivers are kept safe and are aware of the various rules of the road. If you've just scored your learner's license, take a look at these simple tips before you set out on the road:
Know the Rules
The number one rule for learner drivers is to be aware of the rules. And when we say rules, we mean all of them. As a learner driver, your best defence against erratic drivers is to know the rules of the road to the point where you're able to get yourself out of many risky driving situations. Once you've written your test and passed, ensure that you refresh your skills by going through the prescribed book before you take to the roads. Also keep in mind that learner drivers are required to have a licenced driver in the car when they drive on public roads.
|Insurance Buying Tips #4: Purchase life insurance—you aren’t too young|
|Life insurance is essential, no matter how young or old you are. And for millennials, buying now may be a smart move because it’s cheaper to buy a life insurance policy when you’re young and healthy. This kind of insurance can help your family cover unexpected costs in your absence, including student loan debt or a mortgage, in addition to end-of-life costs. And if you have kids, a life insurance policy can also support their education or childcare expenses. Additionally, every millennial should consider long-term disability coverage, which helps you stay afloat financially if an accident happens and you become disabled and unable to work.|
|Insurance Buying Tips #5: Talk to an independent agent|
|An independent insurance agent is an essential resource when purchasing insurance—especially if this is your first time. An independent agent works with multiple different carriers, which is different from captive agents who can only sell insurance from the carrier they work for. Working with an independent agent can help make sure that you are getting the best coverage, for the best price. You’ll also benefit from independent agents’ insurance knowledge; they know how to talk you through your options and actually explain what each policy includes. An independent agent will make sure all of your assets are covered, help you find discounts or other ways to save, and be a valuable resource as your life changes and your insurance needs change, too.|
|Insurance Buying Tips #6: Only buy insurance to maintain your existing standard of living|
|You don’t need insurance for events that won’t severely strain your finances. Start with your basic needs (home, auto, business), then work your way to include other needs (cyber, liability). You can always obtain coverage later for something if you change your mind. You can minimize your risk and maximize your savings by buying insurance that won’t cause you to break the bank.|
Know the Signs
Road signs can be confusing for learner and licensed drivers alike. Most South African drivers are unsure of a variety of road signs, which can often lead to a number of accidents. While you recap on the rules of the road, ensure that you recap on the signs too. Know the difference between a sign for a cul-de-sac and a right of way chevron. Not only will this guarantee that you are kept safe on the roads but also that you obey the signs of the road, and ensure the safety of other drivers.
Due to the unpredictable behaviour of road users, learner drivers are encouraged to be vigilant at all times. Learner drivers are also encouraged to be aware of both peripheral and blind spots, and also be aware of the activity around the vehicle at stop streets and traffic lights. Due to the high crime rates in South Africa, learner drivers are vulnerable, soft targets for those who are looking to hijack vehicles. Always be aware of those who are around your vehicle, suspicious activity and anyone who walks too close to your windows.
As a learner driver, you might feel that you have unnecessary pressure on your shoulders to keep safe and remain vigilant. However, the habits that you form during your early days of driving will be carried throughout your life. Get into the habit of good, responsible driving and you'll reap the rewards for years to come.
|Insurance Buying Tips #7: Ask your insurance provider what the policy doesn’t cover|
|Every insurance policy has perils that are not covered by your policy. These perils are referred to as “exclusions”, and every policy has them. Ask your insurance provider to explain the exclusions in your policy to avoid discovering what they are once you incur damages or a loss.|
|Insurance Buying Tips #8: Consider bundling several policies with one insurance carrier|
|here may be value in bundling several policies with one insurance carrier. If you’re looking to insure multiple vehicles or obtain multiple types of business coverage (e.g., liability, property, cyber), then you may want to consider obtaining coverages under one insurance provider who carries multiple products, and who may be able to offer you multi-policy discounts or loyalty programs.|
|Insurance Buying Tips #9: Review your insurance needs on a yearly basis|
|As your needs evolve, so will your insurance policy. Maybe you’ve acquired a new vehicle since obtaining auto insurance for your primary vehicle, or started operating your business out of your home, or experienced a cyber-attack during the year… Whatever the change(s), you’ll want to make sure you’re covered for any new risk exposures. Talk to your insurance provider to stay on top of your insurance needs.|