Before you buy a new car, it is important to consider the different car insurance options available. At Earn-a-Car, we offer an easy vehicle finance option – rent-to-own. This is a great option if you are looking for interest free car finance and when it comes to car insurance, Earn-a-Car is always available to guide you, if you find yourself in an event of theft, fire, loss or an accident. To help you choose the best car insurance plan that suits you, here are a few considerations to keep in mind:
What is car insurance?
Car insurance is financial protection against any damages to your car. Some insurance plans also protect you in accident-related events, where a person claims property damage against you. To be protected by car insurance, you need to pay a monthly premium. This acts as a safety net that provides you with protection against risk. Depending on the type of insurance option you choose, the insurance cover will also protect you in incidents such as theft, fire and accident-related injuries to yourself or a third-party.
What are the different car insurance options?
Car insurance plans differ in price and the level of cover. Comprehensive car insurance is the most expensive cover, because it provides comprehensive cover against hijacking, damage, collision, theft and fire. This type of insurance also covers you from third-party claims. Limited car insurance is a less expensive option when compared to comprehensive cover, and it also covers you for hijacking, theft, fire and third-party claims, but it does not cover collisions. Lastly, third-party car insurance is the cheapest option but is limited to only providing insurance cover for the damage done to other people’s (third-parties) property, not your personal vehicle.
What to consider before buying car insurance
The cost of car insurance depends on many factors. These factors include the monetary value, make and model of your car, your age, gender, profession or work, residential and work location and whether you have been in previous accidents.
It is important to consider all these factors when deciding on your preferred car insurance policy for your budget and lifestyle. Once you have done this, it is also important to compare quotes from different companies to get the best deal. Speaking of great deals, at Earn-a-Car, our rent-to-own finance plan is available to anyone who needs a pre-loved car. Before releasing any of our vehicle’s to a customer, each car is thoroughly inspected by our motor technicians.
Complete our online approval form, check out our minimal requirements and we will get back to you. For more information, give us a call today.