Car Insurance

[jorgue12]

Do I need it for my first car? What is it even?

I have a 20K emergency fund and at the moment I feel I don’t need car insurance on my first car, which is going to be second hand.

Currently looking at a 2003 Mazda Mx-5, so it’s a 20 year old car… if not that it might be something like a 2010 ~ 2012 Peugeot 308.

I’m 25.

 

[sativwa]

@jorgue12 You definately need third party insurence. You can't afford to pay for the other person's car if something happens.

 

[jorgue12]

@sativwa Super solid advice in these comments!

 

[rudye]

@sativwa I have been in SA for nearly 40 years, and still can't believe this is not compulsory. It is cheap, and covers things you may hit (other cars, people, houses, etc).

 

[vancouverguy]

@jorgue12 Insurance is for if you have an accident with a R1m+ merc and their insurance decides to sue

 

[jorgue12]

@vancouverguy Yikes

 

[trinie]

@jorgue12 I've had 2 cars written off, literally 3/4 of my house, 2 pregnancies, 2 minor hospitalisations, 2 geyser bursts and associates damages, all covered by insurance. All in the space of 5 years. Get yourself insured, shit happens

 

[freefromabuse]

@trinie Hi, please stop driving up the premiums for the rest of us

 

[jorgue12]

@trinie I don’t know what to say except I’ll be taking your advice

 

[mimicakez]

@jorgue12 Yes. 20k isn’t much if you get into an accident

 

[resjudicata]

@mimicakez 20 k is a tiny when you consider a major service can cost 60k...

Get comprehensive insurance and get quotes.

Its cheaper if you have a lockup garage.

 

[pottershands]

@resjudicata Insurance doesn't cover services, so that's quite a weird comparison

 

[resjudicata]

@pottershands Actually there is insurance to cover that. This was a side conversation. For those who dont know its called motorite insurance. Been around for more than 35 years owned by Marshall Shirtliffe.

You buy it from the dealer you get the car from or contact Motorite in Pinelands directly.

Accident insurance for damage from them as well and personal injury insurance you get from others or via them directly as they're Administrators for the underwriters. Best to speak to a injury insurance specialist as third party is included in the fuel levy

http://www.warrantyextender.co.za/extended-car-warranty/motorite-warranty-cover/

 

[pottershands]

@resjudicata If OP is considering not even having accident insurance, I don't think they're gonna consider getting maintenance insurance

 

[resjudicata]

@pottershands Its a moot point. My first car was my mother's old Passat. She got a newer model which my brother then smashed while drinking and driving.

 

[pottershands]

@resjudicata Your point being what?

 

[jorgue12]

@resjudicata How much is a general car service?

 

[resjudicata]

@jorgue12 Depending on age and brand. Dealer prices for a 60k BMW can be around 25k to 65k . Some can be less than R4500 it depends a lot on condition and make model.

 

[jorgue12]

@resjudicata Maybe I should wait a little longer. I am studying at the moment, but in about a few months time I will be in a new position with a new salary as a JavaScript developer… then I can save much more for stuff like this. I think I was just excited to get a car as soon as possible. I wasn’t as lucky us some others who’s parents help them out.

 

[resjudicata]

@jorgue12 You have enough for a city golf. Just get a steering wheel lock and wrap the windows and car with clear wrap after its ceramic treated.

Contact city number plates they do the wrapping in parow and Longmarket street.

Just make sure whenever you buy a car get a deed of sale written up with their ID, address, date of sale/purchase and the licence papers, you will need to take it through the DEKRA roadworthy station and take it to Greenpoint and get it transferred on to your name with the green or white forms.

You can also go for old classics that are far far cheaper to service and less likely to be stolen. E30M40