Budget Insurance Car Insurance Review
Budget Insurance Car Insurance at a Glance
- Seven car insurance policies catering to different budgets.
- Roadside, Home, Medical and Legal Assistance programme.
- Cash back bonus available after two claim-free years.
What we like:
Budget Insurance caters to pre-owned vehicles and smaller budgets by offering more basic car insurance policies under the ‘Budget Lite’ range compared to other insurers. The 'Pre-owned Vehicle Warranty' is a unique car insurance offering that caters to many South Africans' needs and budgets. There are many ways to save by using their cash back programme, buying insurance online, or switching to Budget Insurance from your current insurer.
Best for:
Budget Insurance is ideal for anyone looking for a more affordable car insurance policy that still gives them a range of optional extras and access to an assistance programme. However, if you have a pre-owned vehicle or a vehicle worth less than R250,000 choosing Budget Insurance is an excellent decision.
- Seven different car insurance policies.
- Additional cover options are available.
- Opportunities to save on premiums and earn cash back.
- Limits to the number of times you can use specific assist benefits.
Buying a car, whether it is new or used, can become very expensive. There are license fees, rising fuel prices, hefty maintenance costs, and car insurance premiums. That’s why Budget Insurance aims to provide South Africans with affordable car insurance policies to suit any lifestyle!
In total, there are seven car insurance policies offered by Budget Insurance, with three of those policies specifically catering to smaller budgets. On top of this, there are six additional insurance options and warranties.
What Makes Budget Insurance Car Insurance Different?
Budget Insurance satisfies the ever-growing need in the South African insurance market for affordable, tailored car insurance. There are also many South Africans with pre-owned vehicles or vehicles that are worth less than R250,000 who want simple and affordable car insurance options, such as their ‘Budget Lite’ range. Their ‘Pre-owned Vehicle Warranty’ also makes owning a second-hand car easier, as the costs of mechanical or electrical breakdowns are now covered.
While Budget Insurance does offer fully comprehensive car insurance packages, there are also optional insurance policies, like their ‘Scratch and Dent Insurance’ and ‘Auto Top-Up Plus. This makes it easy to create a car insurance policy that gives you peace of mind and works around your needs. Lastly, in addition to cars Budget Insurance offers insurance policies for 4×4 vehicles and motorcycles.
Budget Insurance Car Insurance Coverage Options and Benefits
Comprehensive Car Insurance
This fully comprehensive car insurance policy covers theft, hijacking, loss, accidental damage, and third-party cover. As part of your coverage, if your car cannot be found after it is stolen or hijacked you will be financially compensated for the market value of the vehicle. The maximum amount for third-party cover is also stated in your schedule and will be used to pay for any damages you caused in an accident.
Under their accident cover, Budget Insurance will pay for repairs, replacement parts, and towing and storage costs. There is optional car hire available for when your car is at the panel beaters. And you can add cover for your canopy, sound system, or damage due to hail!
With this insurance policy, you get access to the Assist Benefits for a small additional fee. This covers everything from ‘Accident and Breakdown assist’ to ‘Home and Medical Assist’. ‘Accident Assist’ helps you save on towing costs by ensuring that your car is safely towed by a Budget Insurance trusted company. The ‘Breakdown Assist’ covers everything from a flat tyre to a dead battery, to even an empty petrol tank.
BetterCar Value
This policy has all the cover and amazing benefits of Budget Insurance’s comprehensive car insurance policy, however, it allows you to increase the value of your vehicle to 15% above its market value on your schedule. This means that you would receive a higher payout in the case that your car is written off, allowing you to purchase a newer vehicle. Your current car model should not be older than eight years old. The replacement vehicle can be at least one year newer than your current model.
Third-Party, Fire and Theft
Third-party cover in this policy covers the damages to property and any other damages you are legally responsible to pay for. The maximum amount you can claim for third-party damages is stated on your policy and is adjustable. In addition to accidental fires, you will also be financially compensated for repairs or a replacement if your car is damaged by lightning or an explosion.
Lastly, if your car is still being financed and it is stolen, Budget Insurance will pay for the remaining instalments. You can even claim more than the amount remaining on your car loan so that you can finance a new vehicle. This policy can also be tailored by adding cover for your canopy, windscreen, and sound system.
Budget Lite
There are three separate insurance policies available under the ‘Budget Lite’ umbrella. If you’re considering this type of cover you should own a car that has a market value of less than R250,000. These policies are also not as comprehensive as their other packages, but there are a few optional extras.
Budget Lite 1 only covers your vehicle in the event of theft, hijacking, and third-party cover. Budget Lite 2 covers theft, hail and third-party damage. It also pays out if your car is written off following an accident. Budget Lite 3 offers full cover if your car is written off, third-party, theft, hail, and limited accident cover. Both Budget Lite 2 and 3 offer access to the Accident Assist benefit, as well as cover for towing and storage costs.
There is additional cover available on all Budget Lite plans for items like your sound system and canopy. And although Budget Lite is designed with older, paid-off cars in mind, the Budget Lite 3 policy is available for financed cars as well.
Additional Cover
No matter careful you are, every car is bound to get a few scrapes over time. Budget Insurance offers two ‘Scratch and Dent’ optional cover policies that you can add to your existing policy. The basic option covers minor chips, dents, and scratches on the exterior, with a second cover option for interior scuff marks and tears.
If you are comprehensively insured, you can add the ‘Auto Top-Up Plus’ cover option to your plan. This mainly acts as a shortfall cover if your car is written off whilst still under finance. The cover also includes personal accident, excess protector, and instalment protector benefits.
If you have a pre-owned vehicle and are concerned about breakdowns, Budget Insurance offers a ‘Pre-owned Vehicle Warranty’. This is similar to the manufacturer’s warranty offered on brand-new vehicles. It covers mechanical and electrical failures and you will be compensated for repairs and the cost of parts.
Finally, a common problem for many South Africans on the road is trying to dodge potholes! With Budget Insurance’s ‘Tyre and Rim Guard’ insurance, you can claim for tyres and rims that were damaged by potholes. There are five plans under this policy that differ based on the cover amount which ranges from R1,000 to R10,000.
Comprehensive Motorbike and 4x4 Insurance
If you’re an avid (or reluctant) motorcyclist you can get cover for any theft, accidental damage, and third-party damages to your bike. Additionally, the theft of accessories is also covered. Their assistance programme is fairly comprehensive with roadside, medical and legal assistance. Budget Insurance will be there to lend a helping hand whether it’s a flat tyre, empty petrol tank, medical emergency or legal referral.
Off-roaders and 4×4 drivers will be pleased to know that Budget Insurance has a comprehensive insurance policy made with them specifically in mind. It includes accidental damage, theft, and third-party damages. This policy also includes cover for standard accessories, reprogramming of the anti-theft system, windscreen and spare wheel cover, and even cover for your cellphone car kit. You can choose to add cover for your sound system or canopy, hail damage and car hire. Additionally, you can increase the third-party liability and accessory cover amounts. Cover for 4×4 vehicles is not exclusive to South Africa, and you’ll be insured in 10 African countries.
Pricing and Discounts of Budget Insurance Car Insurance
Whilst pricing and premiums largely depend on the type of policy, optional extras, and your risk profile, there are ways to save with Budget Insurance. An easy way to get a quick discount is to buy online via their website. Simply log on to their website and follow the prompts on their ‘Quote and Buy’ page to save 20% on your car insurance.
There is an optional ‘Cash Back Bonus’ programme that you can add to your policy. This allows you to claim 15% of your premiums back in cash after the first two years of being claim-free. Thereafter, you can claim 10% back in cash for the next two years that you are claim-free. And 10% for every year that you are claim-free following that.
Where Budget Insurance Car Insurance Can Improve
Whilst their ‘Budget Lite’ insurance policies are unique and needed in the South African market, they are not comprehensive and come with many terms and conditions. Additionally, there are limits to the number of times you can claim certain benefits in the programme.
How to Request a Quote for Budget Insurance Car Insurance
Getting a Quote
- Provide your name and contact number on their website for a callback.
- Call 0861 00 12 94 to speak to a consultant.
Documents Required:
- South African ID or Foreign Passport Number
Personal Information Required:
- Full name
- Date of Birth
- Address
Car Information Required:
- Registration Number
- Year
- Make
- Model
- Type
- Colour
Frequently Asked Questions (FAQ)
Can I claim if someone else was driving my car at the time of the accident?
While it is strongly recommended, it is not a requirement.
Does Budget Insurance require me to install a tracker?
While it is strongly recommended, it is not a requirement.
Do I have to call customer service to change policy details?
No, you can manage your policy online. If you are unsure of anything regarding your policy and cover, it is best to speak to a consultant first before making changes online.
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