Car insurance calculator: How we calculate your premiums

Good claims history:

When you insure your car, you have peace of mind knowing you're protected against larger incidents, accidents, or theft. But it’s best to avoid claiming from insurance every time your car has a little bump or scratch. This is because it’s likely that your monthly premium will be higher if you’ve claimed a lot in the past.

A healthy credit rating:

An online car insurance calculator probably won't take your credit history into account, but it's an important factor to consider. A good credit history acts as an indication that you’re on top of your financial obligations. This could help you insure your vehicle for less, because it can be seen as an indication that you’re more likely to stay up to date with your monthly car insurance payments

Age:

A less experienced driver is likely to pay more for car insurance than a more experienced driver. It’s important to regularly ask for new car insurance quotes, so you can review the insurance cover that you have. You might find that your car insurance cost gets lower as you get older. 

Good security:

You could have the exact same car as your friend and end up paying less for car insurance. One of the reasons for this is that we factor in your security at home and work, to see how much protection you have against vehicle theft. If you park your car in a locked garage at home and in a secure office car park at work, your premiums will likely be lower. But a driver who parks on the street may end up paying more. This is why it’s important to tell your insurer about any anti-theft measures you have in place, such as tracking devices.

Vehicle Details

The make, model, age, and value of your car matter. Comprehensive cover provides extensive cover for all vehicle types and models, regardless of the age of the vehicle.

Older, unfinanced cars (older than 5 years and valued at less than R130,000) qualify for Essential cover at a lower cost, covering you for loss and damage caused by theft, hijacking, accidents, and up to R1 million liability cover

The type of cover (Comprehensive vs. Essential), optional add-ons, and your chosen excess amount affect the monthly premium. Comprehensive cover comes with a default excess amount, but you can opt for a higher voluntary excess to reduce your premium. Your excess amount will remain fixed, irrespective of the claim amount. With OUTsurance Essential, the first amount payable is deducted from the final cash payout amount, i.e. no out-of-pocket payments when you need to claim.  

How to get the best possible price for car insurance 

When you take out insurance, we’ll ask you a series of questions. These include questions about the specifications of your car, how far you commute every day, whether you use your car for private purposes only, and even if you've completed advanced driving courses. 

One of the best ways to ensure you get the right car insurance at the right price is to give us detailed, honest answers. Remember to think of your OUTsurance advisor as your insurance calculator, and you want that calculator to be as accurate as possible!

Of course, it’s equally as important for you to feel free to ask us questions too. We pride ourselves on our best-in-class service, and a dedicated OUTsurance advisor is just a phone call away.