Ah, the great South African debate: Buy a shiny new ride or snag a trusty pre-loved steed? Whether you’re sniffing that new car smell or bargaining over a bakkie with a few kilometres under the belt, the choice isn’t just about the wheels. It’s also about what you’ll fork out for car insurance.
Let’s put the pedal to the metal and compare the 2 like a Sunday spin down the highway with the windows down and the tunes cranked up.
The difference between a new and a used car
It sounds obvious, right? But for the insurance kingdom, the differences go deeper than just showroom shine vs. second-hand swagger.
- New car: Straight from the dealer, untouched and under warranty.
- Used car: Has a bit of a backstory (like your cousin at a braai), and might be cheaper upfront… But it may cost you more in the long-term if it hasn’t been cared for.
New car insurance perks
- Lower risk = Lower premiums (usually)
Insurers like King Price often view new cars as less risky thanks to updated safety features and security systems. You might score a lower premium because your new car’s less likely to break down or be stolen.
- Comprehensive insurance is a no-brainer
You’ve dropped serious bucks on this beaut. So, you’ll probably go for full royal protection like our comprehensive or agreed value insurance which covers your car when it comes to accident damage, theft, hi-jacking, and more.
- Decreasing premiums
At King Price, your premium for comprehensive car insurance decreases every month as your car loses value. Lekker, hey?
Used car insurance facts
- Higher risk = Possibly higher premiums
Used cars can be riskier due to older parts, previous repairs, or outdated security, especially if you don’t know its full service history.
- Inspection is required
Unlike brand-new models, used cars need an inspection before your insurance kicks in. And trust us, no inspection = no cover. We’ve made this simple for you, though, and now you can even inspect your car using WhatsApp!
- Third party or theft-only options
If your used car isn’t worth insuring comprehensively, you can still go for third party, fire and theft, or theft and write-off insurance to stay protected without paying a king’s ransom.
Factors that influence your car insurance costs
Let’s talk brass tacks. A whole convoy of factors influences car insurance costs. Regardless of whether your ride is fresh off the floor or pre-loved, here’s what the king looks at when calculating your premiums:
- Your risk address (where your car sleeps at night).
- Your regular driver (the person who drives it most often per month).
- What you use it for (private vs. business use).
- Your claims history and risk profile.
- Car security (tracking devices are often required).
Royal benefits from King Price
Regardless of your car’s age, the king’s court offers perks that set us apart:
- Emergency assist for roadside, medical, and accident needs.
- Decreasing premiums on comprehensive car insurance.
- R1 insurance for hearing aids, golf clubs, bicycles, when your car is comprehensively insured and motorbike gear when your motorbike is comprehensively insured.
Buying new or used both has its charms… Just don’t forget that whichever way you swing it, car insurance is a must. And if you’re insuring with King Price, you’re not just protected, you’re royally covered.
So, whether you’re rolling in a brand-new Beemer or cruising in a Corolla with character, get a quote from the king and enjoy insurance that actually makes sense. Get a commitment-free quote now or call us on 0860 50 50 50.
FAQs
Is insurance cheaper for used cars?
Yes… Sometimes. Used cars have lower retail values, but higher risks could increase premiums.
Can I get comprehensive cover on a used car?
Absolutely. But the car must be inspected first and meet certain conditions.
What’s agreed value insurance?
It’s a fixed insured value you and the king agree on for 3 years. Perfect for high-value or unique rides.
Can I insure my accessories?
Yes! Just make sure they’re specified separately on your policy schedule.
What happens if I switch from used to new, or vice versa?
You can update your policy at any time, just let the king know! Incorrect details = incorrect cover.