When shopping for insurance, it’s easy to feel overwhelmed by the number of options available. Whether you're looking for car insurance, life cover, funeral policies or travel insurance, comparing policies can be confusing and costly if you don’t get it right.
In all cases, paying attention to filling out the quote form will help you, in the long run, to get accurate insurance quotes and find the best product most suited to you.
Here are five expert tips to help you get accurate insurance quotes that offer value for money:
1. Be prepared
Before you start filling out the quote form, make sure you have all your relevant personal information handy. For example, when looking to compare car insurance quotes in South Africa, have your car’s make, model, year and VIN number handy, along with your own and other drivers’ personal details.
For home insurance, make sure you know the property type, location, security features and replacement value of household contents.
Having this information upfront avoids delays and ensures your quote reflects your real risk profile.
2. Compare similar insurance policies
If you’re replacing an existing insurance policy, have it on hand so that you can accurately compare prices, rates and conditions. For example, if you’ve got a comprehensive funeral policy, make sure that any other insurance quotes you get are for the same level of cover.
3. Shop around
No matter which kind of insurance you’re looking for, it’s a great idea to get more than one quote from multiple companies, since the cost and cover levels can vary so widely between them. You’ll then be able to weigh up your options and compare which policy gives you the most value for money in terms of your premiums and coverage.
4. Don’t just look at the policy premiums
When you’re comparing several policies, don’t just look at the price of the policy, look at the coverage you’re getting as well. While an insurance quote may be the cheapest, it may mean you have inadequate cover which isn’t worth it in the long term. Also, look into the insurance company’s reputation and whether past customers are happy with their products and services.
The cheapest policy isn’t always the best. Look beyond the monthly premium and consider:
- Coverage limits and exclusions
- Customer reviews and insurer reputation
- Claims process efficiency
You can also verify an insurer's registration and check for any public complaints or disciplinary actions through theFinancial Sector Conduct Authority (FSCA), which regulates financial institutions in South Africa.
5. Be honest
When filling out an insurance quote form, it can be tempting to omit certain details in order to get a lower premium, such as whether or not you’re a smoker or whether you’ve had a driving conviction. However, if your insurance company finds out you’ve lied, they could reject your application, or you could be liable for excesses and higher premiums later on.
Always give accurate information so your cover remains valid when you need it most.
Looking for insurance? Hollard is a leading insurance provider providing several types of personal insurance, including car insurance, home insurance, life cover, funeral insurance, travel insurance and legal insurance.
Disclaimer
This article provides general information only and should not be considered financial advice. For tailored assistance, please consult a Hollard-accredited financial adviser or a licensed financial professional registered with the Financial Sector Conduct Authority (FSCA).
