5 Best Car Insurance Companies for Young Adults in SA

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July 28, 2021

5 Best Car Insurance Companies for Young Adults in SA

Few things beat the experience of getting your first car, especially as a young adult.

First, there’s the pride of accomplishment, and the slight upgrade in class (at very least). I’m sure you’ll agree with me that it’s easier to make a statement entrance with a car than without.

Then there’s the sense of responsibility that you assume. Now you know that the durability of something tangible depends on you.

A car comes with financial responsibilities too, and this includes you getting an insurance cover for your vehicle. Without this, you can find yourself in big trouble if you have an accident or your car is stolen.

South Africa has a lot of these insurance companies and it might be hard to choose. That is why we have helped you compile this list to ensure that you do not stress too much while searching for an insurance company that suits you. Each company has their uniqueness, and we help discuss them in this article as well.

iWYZE car insurance

iWYZE provides a lot of options as regards car insurance, especially for young adults.

It comes with comprehensive, theft, fire, third party plus some additional benefits and bonuses alongside.

You get covers for medical expenses that are emergency cases resulting from passenger accidents that are caused by your vehicle.

Also, in case your family member or you are involved in trauma hijacking, violent incidents, attempted theft or armed robbery, provisions will be made for trauma counselling.

If your car key, locks or remote gets damaged or gets lost, iWYZE has the provision in place to either repair or replace them.

Also, all week-long roadside help and emergency accommodation are made in place for anybody who takes cover and also an additional passenger for up to two days for instances where one cannot get home or reach one’s eventual destination after an accident.

King price car insurance

The King price car insurance is a very popular car insurance company especially for young adults in South Africa.

One unique feature about this insurance service provider is that they decrease all their client’s monthly premium services to match the decreasing value of their vehicles.

This isn’t the only reason they are very popular and unique, though.

Another great advantage of using them is that if you apply for covers for two or more vehicles with King price, aside from getting a discount, you will also enjoy decreasing monthly premiums.

With this insurance company, you can also insure other items for as low as R1 every month. You can also choose an amount that will perfectly work with your budget so you won’t go bankrupt.

This means that you can either increase your premiums and lower your excess or lower your premium and increase your excess. The ball is indeed in your court.

Standard bank car insurance

The Standard bank insurance company is a sure go-to for young adults in South Africa. Standard insurance has a serious-minded and learned team that allows you to insure your car or motorbike with their personalized premiums, allowing you to pay for your insurance services according to your personalized risk profile. Their insurance product includes a comprehensive cover that allows you to have cover for accidents, storms, theft, fire and limited car insurance which ensures that you can choose between the third party only cover on the addition of covers for fire damage and theft.

Benefits that can be gotten from standard bank car insurance is an emergency help at home on the road. Plus, UCount rewards members usually get UCount tiering points that are given every month alongside their car covers.

Pineapple car insurance company

Pineapple car insurance operates on an old traditional south Africa stokvel system. This system is an interesting alternative to traditional insurance models and they have a decentralized digital and a total comprehensive cover based on this old law. This idea was borne out of a competition held by German reinsurance company Hannover Re in 2016. At this event, pineapple founders found out that inefficiency and mistrust decrease the value for everybody.

Under the pineapple insurance company, every premium paid by the community goes into a communal pineapple pot and, as claims are being made, money is taken out of the pot with what is left is given back to the community. With this, anything left is given back to the community, and chances that claims are not being catered for due to lack of funds is highly impossible.

OUTsurance car insurance company

With OUTsurance, you will get standard car insurance alongside other benefits. Some of these benefits include a fixed excess not putting into consideration how large one’s claim is and also 12months of unchanging premiums even if you submit a claim during this time. You also enjoy speedy claims cash out and cash bonuses from this insurance company that gives you 10% of your premiums back after three years of claim-free period. This is most definitely a tremendous bonus, especially for young adults who are just getting to see the realities of life.

Conclusion

There are indeed many car insurance companies in South Africa, but not all are best suited for young adults. The list made above is our top picks for a young adult in South Africa as they have unique characteristics that are more for young adults. Simply choose the one that perfectly suits you. With plenty of quality car insurance companies to choose from and by doing a comparison of the five insurance companies listed, you can get the right cover at an affordable premium that perfectly suits you.