Top 10 Cheapest Car Insurance in South Africa 2023 [Companies]

The business of car insurance is a necessary one; we must prepare for any eventuality that could happen as we use our vehicles on the ever-busy roads of South Africa. There are plenty of options to choose from when it comes to selecting a company with which to entrust your money, and there are several factors to consider before arriving at such a decision.

But what are the cheapest car insurance companies that one can find in South Africa? Knowing that can mean quite a lot of money in savings that you can make from paying lower insurance premiums. It can also help you drive with confidence because regardless of your financial position, you can have insurance cover to protect you from the financial implications arising from accidental damage to your motor vehicle.

Without wasting time we now present below some of the cheapest car insurance companies in South Africa, and then we let you make the decision on which ones to for. 

Top 10 Cheapest Car Insurance in South Africa

1. King Price

King Price is fast becoming the leader in cheap insurance quotes; they even have prices in their name. They offer all types of insurance packages, but they are doing quite well in the area of car insurance.

Aside from cheap quotes on their insurance premiums, you also get quick claims, decreasing premiums, The King’s Cab, Emergency assist, and so on. 

2. AA

AA insurance prides itself as a dominating player in the field of car insurance. Not only does this company offer car insurance policies; they also offer other specialized services that can sometimes come with their core insurance business. Their premiums are affordable, and they cater specifically to elderly citizens with specialized services, tailor-made for them.

AA car insurance benefits include Up to 50% off on excess payments, Round-trip towing + overnight accommodation and car hire, Emergency Roadside rescue & security, Comprehensive assist services, License Renewal Assist, Emergency Medical Assistance, and so on.

3. Momentum

Momentum is a very popular insurance company in South Africa; over the years they have proven themselves to be one of the bigger brands in car insurance. Momentum has all three types of insurance, and the most exciting part is that their premiums are very straight forward.

Some of the benefits of choosing momentum are;

• Fully comprehensive car insurance cover,
• Free 24-hour roadside assistance,
• Liability to other third parties only vehicle cover,
• Earn a cashback bonus of up to 30% yearly on your car, and home insurance premiums when you enroll in SafeDayz. 
• You can even submit claims through a mobile app.

4. Discovery

Discovery is another reputable insurance company in South Africa; they even have a wider variety of insurance policies to choose from. Apart from the fact that their premiums are affordable, they also offer a range of value-added products. 

Some benefits of choosing discovery are;

• Immediate help in an emergency, Vehicle Tracking- they can track missing vehicles for you. 
• A panic button on your smartphone; Once you hit the panic button on your app, they immediately send assistance to your location.
• Avoid bad weather: this too is a feature of the app – Get warnings of imminent bad weather.
• Get rewarded for good driving: if you are able to use your car for a year without being involved in any accident then you must be a good driver. This insurance company pays you for this.

5. MiWay

MiWay is another big insurance company in South Africa. The company offers affordable car insurance that is flexible according to the needs of the individual customer. 

Some benefits of choosing Miway include;

• Total Loss cover; which provides cover to clients for the total loss of their vehicles only due to write-offs, theft, or hijacking. Miway also offers limited third-party liability. 
• Retail value; this allows the policyholder to insure the car at the current selling price of the car. 
• Trade value; this allows you to insure the car at the average price that a motor dealer will pay you for the vehicle. 

6. OUTsurance

OUTsurance is a popular name in the South African insurance market. They also offer affordable options for car insurance. This company generally separates its plans into two types: Comprehensive and Essential. The company often says that it is the cheapest in the market. 

Some benefits of choosing Outsurance are:

• Help@OUT: This is Free emergency roadside assistance.
• 10% cash OUTbonus – If you have been claim-free for a period of three years, you’ll receive 10% of your paid car insurance premiums back in cash.
• Liability cover for up to R1 million – If an accident happens and you are liable to pay a third party, the company will cover you up to R1 million – with no excess payable.
• Hand-picked Body Repairs: the company has its own network of panel beaters and mechanics to fix your car should the need arise. 
• Theft cover – If your vehicle is stolen, the company will pay the full retail value. 

7. Santam

Santam has come a long way in the insurance sector in South Africa. The company offers attractively low premiums for car insurance, plus several other benefits that come with choosing Santam:

• Great Customer service, ease of filing claims, emergency assistance, affordable premiums, and so on. 

8. Hollard

Hollard Insurance is the next company on this list of cheap car insurance companies in South Africa. They have very cheap car insurance premiums that generally depend on the type of car. Furthermore, the company allows you to pay the premium based on the current retail value of the car you are insuring.  

With Hollard you get:

• Cheap Insurance Quotes, Emergency Assistance,  Limited third party liability, and so on.

9. Budget

Next comes Budget Insurance which has built a reputation as a pocket-friendly insurance company. The company prides itself in offering cheap insurance solutions to the general public. 

When you choose Budget Insurance you also get:

• Low Premiums, Emergency Assistance, and easy claims filing. 

10. Unity Insurance

Unity Insurance has as its fort a range of lifestyle and motor insurance options that not just provide insurance cover; but also encourage policyholders to explore more, to reach out for more opportunities, and to live the lifestyles of their choice. Unity Insurance has some very low car insurance deals; depending on the type of car, and on the age.

Some advantages of choosing Unity Insurance are:

• Affordable premiums,
• A hassle-free claims process,
• Free roadside emergency assistance.

Related:

• List Of Car Insurance Companies In South Africa
• Hollard Cellphone Insurance

 Conclusion:

Above we have prepared a list of car insurance companies in South Africa names that you can check out, but we urge you to read the small print properly before signing or paying anything. The trend these days is that insurance companies calculate your premiums based on the cost of the car in dealerships at the moment. Some insurance companies offer to pay you some money if you do not file a claim in a calendar year. If that is a prospect that you find attractive then ask the agent or representative you are talking to. 

Whatever you do, please keep in mind that insurance is a necessity; not a luxury.