WeeklySA_AdminWARN:Second-hand car buyers could pay more premiums
By Thuli Zungu
If you are on the market for a great second-hand car, now is the perfect time to shop around for a good deal, but be warned that the colour of the car you choose can affect your insurance premiums.
Nunben Dixon, head of Gumtree Automotive, says there is a likelihood that the sale of new cars could decline following the constrained economic environment and the fact that the supply of new vehicles was likely to be slowed. The South African pre-owned vehicle market is expected to pick up over the coming months but Consumers must be aware that the colour of the car you choose, can affect your insurance premium.
The main reasons why the colour of the car can impact on your premiums, pertain to visibility (of the car at night) and paint costs (should you be in an accident and require paint work).
“A darker shade car is less visible at night, so that certainly is a factor the insurer looks at. However, when we look at colour, we are also assessing the costs of replacement of paint work. If someone has a limited edition, the irregular tone or colour of the car, can make paint work pricier should damage occur” says Anneli Retief, Head of Dial direct Insurance.
“In addition to colour, other factors that are taken into account include the make and model of your motor vehicle, where you live, where your vehicle is kept at night, who the driver of the vehicle is, what purpose your vehicle is used for and your previous insurance claims history,” added Retief. An important consideration is the fact that some cars are more susceptible to theft than others. “For example, a very common model on the roads is easy to obtain parts for, so it is likely to be a greater target for theft,” according to Retief.
“So when you’re next shopping for a great second hand car on Gumtree, consider the colour of your car wisely, as this can help you save on premiums down the road, ” said Dixon.
