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2 out of 3 drivers do not own insurance coverage for their cars

Milcah Lukhanyu by Milcah Lukhanyu
1 month ago
in Tech
8 min read
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It is well known how important it is to have valuable things insured. Insuring houses and vehicles protect owners from hazards that may be unthinkable at the moment of acquiring the new goods. Being involved in a car accident, for example, may be the first thing which comes to our mind, but cars can also get on fire or windows may be smashed, or drivers may be victims of car hijacking.

Owning an insurance premium promotes financial stability and allows individuals to feel safe and protected, a feeling which every citizen seeks. Then, it should not be questioned whether to acquire comprehensive insurance for a vehicle, for instance, if it keeps people safe. However, in the face of the worldwide changes, 2 out of 3 South African cars do not have insurance coverage.

During 2020 many things changed and a new configuration of society as we knew it appeared. In this rapidly changing world citizens have always been bound to constantly adapt to new situations, this year in particular it was paramount to adapt to a new situation which affected countries worldwide and in many different ways. Covid-19 pandemic forced governments to make decisions that would help them take care of their countries health and sanitary systems. This situation, in turn, forced the population in each country to revisit their economic trends. Although some measures in South Africa, like one of the hardest lockdowns around the world, have been loosened, the consequences the decisions brought to individuals are still in place and are leading to changes in many spheres.

It used to be true that when most drivers acquired a car, new or second hand, they would immediately think about getting the insurance premium that best fitted their needs and that would keep them safe and comfortable. During this year many families and individual citizens owning cars saw the need to cut down on their expenditures to make ends meet. As it was mentioned before, being in possession of an insurance premium is not something to be taken for granted, however, when choosing among covering basic needs like food and education, it is natural it may be put in second place. Experts, on the other hand, pose that not owning a car insurance can turn out to be absolutely detrimental for drivers when engaging in a car accident, or when being victims of car hijacking, since the amount of money needed to handle with this situations is much higher than the money to be paid for a premium.

READ  Zimbabwe Records a 2.6% Growth In Mobile Subscriptions

Keeping in mind, and agreeing that it is important to acquire coverage, then, when making the choice of the most suitable car insurance several aspects are to be taken into account. Of course, the economic situation of the car owner or family acquiring the coverage will lead to the final choice most of the time. However, there are other considerations to be analyzed, hiring a broker would prove helpful along the way, since it makes the imminent decision easier or at least it will allow the future beneficiaries of the coverage to make an informed choice. 

It cannot be denied that the world´s economic, social and health situation has changed a great deal since COVID-19 pandemic hit, but there are individual needs which still need to be taken care of. The need for safety and feeling safe should not be questioned even in today’s ¨new normal¨. When revising the question of why an insurance coverage for our cars was needed in the first place, we realize that satisfying that need is not a matter of luxury, but a matter of safety, which cannot be placed in the second row. The reasons why car owners hired their premiums are still there, they have not gone away because of the pandemic, so it is wise to think twice before cutting down on that expenditure.

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Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

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