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How to Cancel Car Insurance

Wednesday, February 26, 2020

If you have decided to cancel your car insurance and risk it alone without a comprehensive car insurance policy, or you have decided to switch car insurance agencies, you can cancel your insurance policy by contacting your car insurance broker and they will assist you.

There will most likely be a previously agreed upon administration fee, a penalty or a notice period, depending on which car insurance agency you used. Some car insurance agencies will require you to pay the last installment when cancelling a car insurance policy. Before you go ahead and call your broker to cancel your car insurance policy, you might want to think of the following things.


Think It Over First


Some people consider cancelling their car insurance policy as a great idea or way to save money, especially during those tougher financial times. While the deductions aren’t coming off your account anymore after cancelling car insurance, the risk of being involved in a car accident doesn’t go away.

While South Africa’s road accident and fatality rate may have had a slight decrease in 2019, the numbers are still horrifying and there is no sign of this risk going away anytime soon. According to Transport Minister Fikile Mbalula, 589 people died on South Africa’s roads during the 2019 festive season, with 489 fatal crashes recorded. Before cancelling any car insurance policy, consider the risks and troubles that may await you should you be involved in a car accident without car insurance.


Take Advantage of Benefits


We can’t talk on behalf of other car insurance agencies, but did you know that our comprehensive car cover comes with various benefits? You’re able to get up to 75% cashback each month. And our easy self-inspection process will ensure you can skip queueing and do it straight from home or the office. Amazing. You can also get up to 500MB of data when you register online and make use of our express claims service, which guarantees you a same-day approval and payout on valid claims (subject to the submission of all required documentation). All of these are great ways to help you save money.


Talk to Your Insurance Broker


You might be surprised, but insurance policies aren’t always fixed. They can be negotiated, and you should try to contact your insurance broker at least once a year to see if they can adjust your payments and update your insurance policy.


Compare Car Insurance Policies


You’re allowed to compare your current car insurance policies with others by getting quotes from other car insurance companies. If you get a car insurance quote that seems like a better deal for you, then you can contact your current car insurance agency and inquire about the cancellation process. If the process remains beneficial to you, then switching is a great option and something you should consider doing.

If you want to see how and where you can save, or just want to talk about getting car insurance for your new or used car, give us a call on 0860 911 911 or connect online and we’ll happily assist you.

Dialdirect is an authorised FSP and insurer. Ts and Cs online.