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Best Car Insurance Companies

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If you own a well-maintained antique, classic, vintage, or modern classic car—or if you’re in the midst of restoring a collector car—it’s essential to have specialized classic car insurance tailored to your specific requirements.

Our assessment considered factors such as coverage options, mileage allowances, and the availability of online quotes to identify top classic car insurance providers. Following our analysis, Dotsure, Momentum, and Nedbank, Absa, Discovery emerged as some of the premier companies offering classic car insurance.

What are the top 10 car insurance companies in South Africa?

Top car insurance companies in South Africa involves considering various customized factors for each motorist. The best option for one person may not be suitable for another due to unique needs and preferences. As a result, there isn’t a final number one car insurer in the country. Instead, the list below is arranged alphabetically, based on research findings highlighting South Africa’s leading auto insurers offering excellent value. Here are the 10 best car insurance companies in South Africa based on our research.

Best 10 Insurance Companies in South Africa 2024

Top Tier:

Discovery Insure: Known for their innovative Vitality Drive program that rewards safe driving with lower premiums and additional benefits.

Hollard Insurance: Offers a wide range of comprehensive and customizable plans, with options for budget-conscious individuals and high-value vehicles.

OUTsurance: Emphasizes customer service and claims efficiency, boasting a reputation for quick and hassle-free resolutions.

Old Mutual Insure: A well-established player with a strong financial backbone, providing reliable and flexible cover.

Santam Insurance: Another major player with a long history in the South African market, offering comprehensive and flexible cover options.

Strong Contenders:

Momentum Metropolitan: Renowned for their diverse product range and focus on personalized solutions.

MiWay Insurance: Popular for their online platform and competitive pricing, often appealing to tech-savvy customers.

1st for Women: Offers tailored plans and discounts for female drivers, with a focus on safety and security.

Auto & General: Renowned for their budget-friendly options and straightforward approach to car insurance.

King Price Insurance: Known for their innovative and disruptive pricing models, often appealing to younger drivers.

How does car insurance work in South Africa?

Car insurance in South Africa operates similarly to insurance systems in many other countries. Here’s a general overview of how car insurance works in South Africa:

Compulsory Third Party Insurance

In South Africa, it is compulsory to have third-party insurance, also known as liability insurance. This coverage provides protection against claims from third parties for bodily injury or property damage caused by your vehicle.

Comprehensive Insurance

While third-party insurance is mandatory, many drivers opt for comprehensive insurance for additional coverage. Comprehensive insurance covers damage to your own vehicle in addition to liability coverage. It typically includes protection against theft, fire, accidents, and natural disasters.

Insurance Premiums

Car insurance companies in South Africa determine premiums based on various factors such as the driver’s age, gender, driving history, the make and model of the vehicle, and the area where the car is primarily driven and parked. A higher-risk profile may result in higher premiums.

Excess Payments

Most insurance policies have an excess, which is the amount you need to pay out of pocket before the insurance coverage kicks in. There may be a standard excess and additional excess for specific situations.

Claims Process

In the event of an accident or damage, you need to report the incident to your insurance company promptly. The claims process involves providing details of the incident, obtaining necessary documentation, and, if required, getting the vehicle assessed for repairs.

No-Claim Bonus

Insurers often offer a no-claim bonus to policyholders who do not make any claims during a policy year. This can lead to reduced premiums in subsequent years.

Renewal and Policy Changes

Car insurance policies are typically annual and need to be renewed. During the renewal process, you can make changes to your policy, such as adjusting coverage levels or adding additional drivers.

Discounts and Incentives

Some insurers offer discounts for factors such as installing security devices, having a good driving record, or bundling multiple insurance policies.

What does car insurance in South Africa cover?

Car insurance in South Africa can offer various types of coverage, and the extent of coverage depends on the specific policy you choose. Here are common types of coverage that car insurance in South Africa may include:

Third-Party Liability: This is the minimum legal requirement in South Africa. It covers the cost of damage or injury caused to other people or their property by your vehicle.

Comprehensive Coverage: Comprehensive insurance is more extensive and covers damage to your own vehicle in addition to third-party liability. It typically includes coverage for theft, fire, accidents, and natural disasters.

Theft and Hijacking: Specific coverage may be provided for theft or hijacking of your vehicle.

Accidental Damage: This covers the cost of repairing or replacing your vehicle in case of accidental damage.
Fire Damage: Coverage for damage to your vehicle caused by fire is often included in comprehensive insurance.

Natural Disasters: Comprehensive insurance may also cover damage caused by natural disasters, such as floods or storms.
Medical Expenses: Some policies provide coverage for medical expenses incurred by you and your passengers in the event of an accident.

Towing and Roadside Assistance: Many insurers offer optional coverage for towing and roadside assistance in case your vehicle breaks down.

No-Claim Bonus: If you do not make any claims during a policy year, you may be eligible for a no-claim bonus, leading to reduced premiums in subsequent years.

Car Accessories: Some policies provide coverage for car accessories, such as sound systems or custom fittings.

Key Features

Market-leading comprehensive car insurance: Covers accidental damage, theft, hijacking, third-party liability, and more.

Vitality Drive: This rewards program tracks your driving behavior through a smartphone app and offers discounts on your premiums and other benefits like fuel and travel vouchers for good driving.

Intelligent technology for safety: Discovery Car Insure provides access to advanced safety features like crash detection and emergency response through their Vitality Drive app.

Comprehensive Vehicle Warranty: This optional add-on provides cover for mechanical and electrical breakdowns, offering additional peace of mind.

Flexible and affordable plans: They offer a range of plans to suit different budgets and needs, with the option to tailor your cover to your specific requirements.

Excellent customer service: Discovery Car Insure boasts a reputation for responsive and helpful customer service.

Benefits of Choosing Discovery Car Insure:

Potential for lower premiums: Safe drivers can earn significant discounts on their premiums through Vitality Drive.

Peace of mind: Their comprehensive coverage and advanced safety features offer extra protection on the road.

Innovative approach: Discovery Car Insure is constantly introducing new and exciting features to enhance the customer experience.

Strong financial backing: As part of the Discovery Group, they are a financially stable and reliable provider.

Things to Consider:

Vitality Drive participation is optional: While not mandatory, participating in Vitality Drive is crucial for maximizing potential savings and benefits.

Premiums may be higher for young or inexperienced drivers: As with any insurance, factors like age and driving experience can impact premiums.

Available in South Africa only: Discovery Car Insure is currently only available in South Africa.

Overall, Discovery Car Insure is a strong contender for those seeking innovative, comprehensive, and potentially cost-effective car insurance in South Africa. Weighing their features and benefits against your individual needs and budget will help determine if they are the right fit for you.

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Key Features:

  • Pay As You Drive: This innovative option tailors your premiums to your actual driving kilometers, ideal for low-mileage drivers.
  • Real Insurance platform: This online platform simplifies the process of getting a quote, purchasing, and managing your policy.
  • Strong financial backing: As part of the Hollard Insurance Group, they offer financial stability and security.
  • Variety of add-ons: Enhance your cover with optional extras like windscreen cover, car hire while your vehicle is repaired, and more.
  • Choice of distribution channels: Get a quote directly from Hollard, through a broker, or via partner brands like Dotsure and Naked.

Benefits of Choosing Hollard Car Insurance

  • Customization: Tailor your cover to your specific requirements and budget.
  • Flexibility: Choose from various cover options and additional benefits.
  • Convenience: Access your policy and manage claims easily through the online platform.
  • Dependability: A reputable and financially secure provider.
  • Competitive pricing: Hollard offers options to suit different budgets.

Things to Consider:

Premiums may vary depending on your car, driving history, and chosen cover: Comparing quotes from multiple providers is advisable.

Some add-ons can significantly increase your premium: Choose add-ons that align with your needs and budget.

Claims settlement experiences may vary: Check online reviews and ratings for insights into customer experiences.

Key Features

Comprehensive cover: Offers various levels of coverage, from basic third-party liability to more extensive plans with add-ons like windscreen cover, hire car while your car is repaired, and more.

Value-for-money: Boasts a “best price guarantee” and promises to beat your current premium by R500 if they can’t.

Reward system: Earns you a cash OUTbonus (up to 10% of your premium) for claim-free years, incentivizing safe driving.

24/7 Help@OUT: Provides emergency roadside assistance, medical response, and other support services at any time.

SmartDrive: This optional tech solution tracks your driving and offers potential discounts for safe driving habits.

Fixed excess: Your excess remains the same regardless of the claim size, offering predictability and control.

Guaranteed premiums: Enjoy fixed premiums for 12 months for added peace of mind.

Benefits of Choosing OUTsurance:

Focus on customer service: Renowned for their responsive and helpful customer support.

Potential for savings: Earn rewards and discounts for claim-free years and safe driving.

Convenience: 24/7 support services and online management options.

Transparency and predictability: Fixed excess and guaranteed premiums offer clarity and control.

Innovative features: SmartDrive and Help@OUT provide additional value and security.

Things to Consider:

Premiums depending on your car, driving history, and chosen cover: Comparing quotes is crucial.

Some add-ons can increase your premium: Choose add-ons that align with your needs and budget.

Availability of SmartDrive may be limited: Check if it’s applicable to your specific vehicle and driving area.

Key Features:

  1. Comprehensive coverage: From third-party liability to comprehensive cover with add-ons like windscreen, hire car, and personal accident benefits.
  2. Customizable plans: Choose from various levels of cover and adjust it to your specific needs and budget.
  3. Financial stability: Backed by the reputable Old Mutual Group, offering peace of mind and security.
  4. 24/7 Roadside Assistance: Access help in case of breakdowns, accidents, or emergencies, day or night.
  5. Claims network: They have a wide network of approved repairers, ensuring efficient and convenient claims processing.
  6. Discounts and rewards: Potential discounts for safe driving, multi-policy bundling, and loyalty programs.
  7. Online platform: Manage your policy and make claims conveniently through their online platform.

Benefits of Choosing Old Mutual Car Insure:

Reputation and reliability: A trusted name with a long history in the South African market.

Flexibility and customization: Tailor your cover to your specific needs and budget.

Convenience and support: 24/7 assistance and a wide claims network offer peace of mind.

Potential for savings: Discounts and rewards can help you save money on your premium.

Easy online management: Manage your policy and claims online for added convenience.

Things to Consider:

Premiums may vary depending on your car, driving history, and chosen cover: Comparing quotes from multiple providers is advisable.

Some add-ons can increase your premium: Choose add-ons that align with your needs and budget.

Claims settlement experiences may vary: Check online reviews and ratings for insights into customer experiences.

Here are some of the benefits of choosing Santam for your car insurance:

Wide range of cover options: Santam offers a variety of cover options to suit your budget and needs, from third-party only cover to comprehensive cover that includes accidental damage, theft, and hijacking.

Competitive rates: Santam offers competitive rates on car insurance, and they offer discounts for things like good driving records, multiple car policies, and low mileage.

Excellent customer service: Santam is known for its excellent customer service, and they have a team of experienced advisors who can help you choose the right cover for your needs.

24/7 claims service: Santam has a 24/7 claims service so you can be sure that you will be helped if you are involved in an accident.

Here are some additional things to keep in mind when choosing car insurance:

Make sure you have the right level of cover: Don’t just go for the cheapest option. Make sure you have enough cover to protect yourself financially if you are involved in an accident.

Shop around: Get quotes from a few different insurers before you make a decision.

Read the fine print: Make sure you understand the terms and conditions of your policy before you sign up.

Coverage:

Comprehensive: Covers accidental damage, theft, hijacking, third-party damage, and more.

Third party, fire and theft: Less extensive cover, but protects against damage caused to other vehicles and fire or theft to your own car.

Third party only: Basic cover for damage caused to other vehicles in an accident.

Features:

Safety Score: Earn cashback rewards based on safe driving habits tracked through a telematics device or app.

EishHappens Game: Challenge friends to be safe drivers and win additional rewards.

Roadside and emergency assistance: 24/7 support in case of breakdowns or accidents.

Safety Alert panic button: Instant assistance for emergencies on the road.
Benefits:

Competitive rates: Discounts available for good driving records, multiple car policies, and low mileage.

Excellent customer service: Dedicated claims teams and convenient online management options.

Rewards and cashback: Potential to earn money back through safe driving and yearly “Safety Returns.”

Focus on safety: Promotes safe driving habits through features like Safety Score and #EishHappens.


Things to consider:

Availability: Only offered in South Africa.

Optional extras: Some features like Safety Score require additional equipment or app usage.

Price comparison: Always compare quotes from different insurers before making a decision.

Here’s a breakdown of MiWay’s pros and cons compared to Santam:

MiWay Pros:

Highly affordable: MiWay emphasizes lower premiums, with daily rates starting as low as R28.

Easy online self-service: Manage your policy, submit claims, and even get quotes quickly and conveniently online or through their app.

24/7 customer support: They offer 24/7 emergency assistance and claims support.

Added-value benefits: Options for extra cover like scratch and dent, tyre and rim, and even motor warranty.

Reward programs: Cash rewards for online purchase and claim-free periods.

MiWay Cons:

Limited branch network: Primarily online-based, with fewer physical branches for face-to-face interaction.

Newer company: Founded in 2002, Santam has a longer history and established reputation.

Coverage options: While offering comprehensive cover, some specific coverage options might be more limited compared to established players like Santam.

Choosing between MiWay and Santam:

Here’s a quick guide to help you decide:

Price-conscious: Choose MiWay for its potentially lower premiums and online convenience.

Value added benefits: Go for MiWay if you prefer online management and potentially lucrative reward programs.

Established reputation: Santam may be a better choice if you prioritize a longer track record and a wider range of coverage options.

Personal preference: Consider your comfort level with online self-service and branch availability.

Ultimately, the best choice depends on your individual needs, budget, and preferences.

Here’s what makes 1st for Women stand out:

Tailored premiums: They consider factors like gender, driving history, and car type to potentially offer lower premiums than traditional insurers.

Added safety features: Many plans include 24/7 Guardian Angel roadside assistance, emergency response services, and trip monitoring for added peace of mind.

Focus on women’s needs: They understand the specific concerns women may have around car insurance and offer resources and support like defensive driving courses and online communities.

Community support: A portion of their premiums go towards initiatives that empower women and fight against gender-based violence.
Here are some specific car insurance plans they offer.

Comprehensive cover: Protects against theft, fire, accidental damage, third-party damage, and more.

Third party, fire and theft: Covers damage caused to other people’s vehicles and your own in case of fire or theft.

Third party only: Covers damage caused to other people’s vehicles in an accident.

Is 1st for Women right for you?

Consider these factors: You’re driving needs and budget: Do their coverage options and premiums meet your requirements?

Your comfort level with a woman-specific insurer: Do you appreciate the tailored approach and focus on
Women’s safety?

Availability: Their services are currently only available in South Africa and Australia.

Wide range of cover options: From third-party only to comprehensive cover that includes accidental damage, theft, and hijacking.

Competitive rates: With discounts for good driving records, multiple car policies, and low mileage.

Excellent customer service: With experienced advisors to help choose the right cover.

24/7 claims service: So you’re not left stranded if you’re in an accident.

Specific features of Auto & General Car Insurance:

Cash Back Plus: Earn money back if you remain claim-free for four years.

Young@Heart: Specially designed for drivers over 50, with benefits like emergency medical assistance and roadside assistance.

Auto & General App: Manage your policy, track claims, and get emergency assistance, all from your phone.

Things to consider when choosing Auto & General Car Insurance

Availability: Their services are only available in South Africa.

Coverage options: While they offer comprehensive cover, their range of add-on options might be smaller compared to some larger insurers.

Price comparison: Always compare quotes from different insurance providers before making a decision.

Car insurance: Comprehensive cover with optional extras like windscreen cover and car hire.

Monthly decreasing premium: Your premium reduces every month as your car depreciates in value, potentially saving you money.

Self-service portals: Manage your policy, submit claims, and track progress online or through their app.

Discounts: Available for good driving records, multiple cars, and low mileage.

Pros:

Potentially cheaper premiums: The decreasing premium model can be attractive, especially for newer cars.

Convenient: Self-service options offer flexibility and ease of management.
Transparent: Their website and app provide clear information about coverage and costs.

Good customer reviews: Generally positive feedback on responsiveness and helpfulness.

Cons:

Limited product range: They only offer car insurance and related products.

Newer company: Compared to established players, they have a shorter track record.

Coverage options: Might be more limited compared to some competitors.

Decreasing premium model not for everyone: If you plan to keep your car for a long time, the savings might not be significant.

Is King Price right for you?

This depends on your priorities and driving profile. Consider:

Budget: If affordability is key, King Price could be a good option, especially with a newer car.

Value-added features: Do the self-service options and potential savings appeal to you?

Coverage needs: Compare their coverage options with other insurers to ensure your needs are met.

Risk tolerance: Are you comfortable with a newer company and potentially fewer coverage options?

Related most searching question

There is no one-size-fits-all answer to the question of “cheapest car insurance” in South Africa. The cost of your insurance will depend on a variety of factors, including:

Your personal details: Your age, gender, driving experience, driving record, credit score, and residential area all play a role in determining your risk profile and, therefore, your premium.
Your car: The type of car you drive, its value, its safety features, and its mileage will also impact your premium.
The level of coverage you choose: Third-party only insurance will be the cheapest option, but it only covers damage to other vehicles and property. Comprehensive insurance will cover your own vehicle as well, but it will be more expensive.

Here are some resources that can help you find cheap car insurance in South Africa:

  • Hippo Starting from R 198
  • Kingprice Starting from R 199
  • PM D Insurance Starting from R 199
  • MiWay Insurance Starting from R28 per day

Saving money on car insurance involves several strategies. Here are some tips:

Shop Around: Obtain quotes from multiple insurance providers to compare rates and coverage. This allows to find the best value for your specific needs.

Bundle Policies: Consider bundling car insurance with other policies, such as home or renters insurance, from the same provider. Many insurers offer discounts for bundled coverage.

Maintain a Good Driving Record: Safe driving habits can lead to lower premiums. Avoid accidents and traffic violations to qualify for discounts.

Raise Your Deductible: Increasing your deductible (the amount you pay out of pocket in the event of a claim) can lower your premium. However, be sure you can afford the higher deductible if you need to make a claim.

Drive a Safe Car: Vehicles with safety features qualify for lower insurance rates. Check with your insurer to see if they offer discounts for anti-lock brakes, airbags, and other safety features.

Maintain Good Credit: In some regions, insurers use credit scores to determine premiums. Maintaining a good credit history to help secure lower rates.

Ask About Discounts: Inquire about available discounts. Common discounts include multi-car discounts, good student discounts, and discounts for certain professions.

Drive Less: Some insurers offer lower rates for drivers with lower annual mileage. If you don’t drive frequently, let your insurer know to see if you qualify for a discount.

Choose a Higher-Rated Vehicle: Insurance premiums, influenced by the make and model of your car. Safer and less expensive-to-repair vehicles may have lower insurance costs.

Review and Update Your Policy Regularly: As your circumstances change, such as getting married, moving, or buying a new car, update your insurance provider. You may qualify for new discounts or find that your coverage needs have changed.

Whether you need comprehensive car insurance depends on various factors, including your financial situation, the value of your car, and your risk tolerance.

The time it takes to receive a car insurance payout can vary depending on several factors, including the complexity of the claim, the cooperation of all parties involved, and the policies and procedures of the insurance company.

If your car insurance claim is rejected, it can be frustrating, but it’s important to understand the reasons for the denial and your options moving forward.

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