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Thursday / 20 June 2024
HomeFeaturesCheapest cars to insure in South Africa – and what you can expect to pay per month

Cheapest cars to insure in South Africa – and what you can expect to pay per month

King Price has looked into its trove of data to determine which vehicles, on average, cost the least to insure at the start of 2024, and it has determined that they are the Renault Kwid, Suzuki S-Presso, Toyota Yaris, Toyota Corolla, and VW Polo Vivo.

Comprehensive insurance on these vehicles for a 30-year-old driver in South Africa, as provided by King Price, is estimated at:

  • Suzuki S-Presso – R732 per month
  • Renault Kwid – R750 per month
  • VW Polo Vivo 1.0-litre – R950 per month
  • Toyota Yaris – R800 to R1,500 per month
  • Toyota Corolla – R1,000 to R2,000 per month

The insurer notes, however, that these premiums are based on a motorist’s individual risk profile and could change depending on factors such as your claims history, living situation, exact make and model of your vehicle, and a host of other parameters.

“We need to stress that the cheapest premiums listed above are simply average calculations, which don’t consider the fact that maybe you’re a 42-year-old man with a clean driving record and zero claims history. Or perhaps you’re 22 years old and have three accidents under your belt,” said King Price.

“These details matter a great deal.”

Don’t overpay for insurance

Car insurance is usually a major monthly expense, but there are ways to make it just a tiny bit more affordable.

According to King Price, if comprehensive coverage is just out of your budget, choose a cheaper option such as theft and write-off insurance or third-party liability insurance. With these you’ll still be covered in certain incidents such as when your car is stolen and won’t be left to flip the entire bill yourself.

You can also choose a higher excess – which is the amount you have to pay out of your own pocket when making a claim – as this will result in a lower premium, however, make sure the excess isn’t completely out of your budget and that you’ll still have the funds available to afford it should you have to initiate a claim.

Additionally, instead of lodging a claim every time something happens which will push up your monthly insurance spend, you can opt to fix minor damages such as a small scratch yourself and only involve your insurer if something serious happens.

Finally, look for discount offers like King Price’s multiple-car discount that slashes up to 20% off your premiums based on the number of cars you insure with the company.

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