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What factors increase my risk profile?

Under Home Contents or Building Insurance, the presence of Lapa or Thatch Roof increases the fire risk and premiums dramatically. (But the size and distance from the building also has an impact)

Under Vehicles the Performance contributes a lot towards a higher premium, especially Turbo Charged vehicles.

Also submitting frequent claims can have a negative impact on your premiums and risk profile. Claiming too often may lead to conditions being imposed on any future insurance or even worse, the insurer might cancel your cover.

Why do my premiums go up every year, even when my car depreciates?

The main reason for this is inflation and the ever increasing cost of parts, labour, overheads, fuel etc.

A vehicle covered comprehensively has cover for own damage in the event of an accident. The cost of sourcing, delivering and installing the parts that need to be either replaced or repaired are always getting more expensive. Unfortunately your premiums are increased in accordance with inflation. Your vehicle’s value will always be taken into account at renewal stage and will be adjusted accordingly.

Is it true that Married couples pay less on insurance than single people?

Yes, this is true. Married people are regarded as a lower risk, because generally speaking, married couples would tend to take less risks and do not go out for a “jol” as often as single might.