The annual Kinsey report by Malcolm Kinsey provides an overview of the South African motor vehicle industry, with a focus on the cost of parts for different vehicle models. The latest 2016 report covers 69 vehicles, compares the costs of various parts against competing models, and highlights price increases of parts such as wheel rims, car doors and lights, which are all found in the crash-parts category1.
“From the various costs presented in the report, one can see that not having Car Insurance could lead to significant costs for consumers should they be involved in an accident,” says Derek Wilson, head of online insurance and financial comparison website, Hippo.co.za.
“If you drive an entry-level city vehicle, for example, a VW Polo Vivo, you could pay up to R14 682 if you have damages to your doors and rear fender following a collision into the right-hand side of your vehicle,” says Wilson, “It could be easier and more cost-effective to simply pay a monthly Car Insurance premium than having to replace parts out of your own pocket following a claimable event”.
But did you know with just a few simple steps, you can also lower your monthly Car Insurance premiums and save even more?
Hippo.co.za provides these saving hacks that could help you save:
“You could make an even greater saving by comparing premiums from a range of South African providers at Hippo.co.za. You could save hundreds of Rands per month* on Car Insurance alone and also save on a range of other products such as Home Insurance, Personal Loans, Funeral Cover and Medical Aid,” concludes Wilson.