Car Insurance, or Motor Insurance is basically insurance which protects the insured against losses involving the policy holder in the event of an accident. Various coverages may be bought depending on the desires of the insured.
Car Insurance Premium
The price an insurance company charges for coverage, based on the frequency and cost of potential accidents, theft and other losses. Prices vary from company to company within South Africa.
Premiums also vary depending on the amount and type of coverage purchased; the make and model of the car; and the insured’s driving record, years of driving and where the car is kept. Other factors taken into account include the driver’s age and gender, where the car is most likely to be driven and the times of day.
Comprehensive Car Insurance
For damage to the policyholder’s car that doesn’t involve a collision with another car. Covered risks include fire, theft, falling objects, missiles, explosion, earthquake, flood, riot, “acts of God” and civil unrest.
Sheet metal parts that are most often damaged in a car crash.
Generic Auto Parts
Auto crash parts produced by firms that are not associated with car manufacturers. Insurers consider these parts, when certified, at least as good as those that come from the original equipment manufacturer (OEM). They are often cheaper than the identical part produced by the OEM.