Renewing your car insurance policy might seem like a routine task—but simply clicking “renew” without reviewing the details could mean paying more than you should or missing out on better coverage. Whether you’re a seasoned driver or new on the road, it’s essential to take a few minutes to review your policy, assess your needs, and ensure you’re still getting good value for money. Here’s what to keep in mind before you say yes to another year of coverage.
1. Have Your Driving Habits Changed?
If you’re driving less—perhaps due to remote work, a job change, or simply using public transport more—your risk profile has changed. Insurance companies calculate premiums based on your mileage. Updating your insurer about lower annual kilometres could potentially reduce your premium.
On the flip side, if you’re driving more or have added a second driver to your car, your insurer needs to know too. Failing to declare this might complicate claims.
2. Compare Premiums and Benefits
One of the biggest mistakes policyholders make is renewing without checking what other providers are offering. Shopping around allows you to compare premiums, excess amounts, and added benefits. Use online tools to compare rates and look closely at what’s included in each offer.
Even if you’re happy with your current car insurance policy, there’s no harm in checking whether competitors—like Miway Insurance—might offer a more competitive rate or better value for the same coverage.
3. Check for Policy Changes and New Exclusions
Insurers can tweak policy wording during renewals. That “free car hire” benefit you relied on might now be an optional extra. Review your updated policy schedule and terms and conditions carefully to identify any new exclusions, limitations, or price increases.
This is particularly important if your lifestyle has changed—if you’ve bought a new car, moved to a different neighbourhood, or added security features like a tracker. Some of these changes can affect risk and, consequently, your premium.
4. Reassess the Value of Your Car
South African insurers often insure vehicles at retail, market, or trade value. As your car depreciates, the amount you’re covered for should decrease too. However, if you don’t adjust the insured value, you could be overpaying for coverage.
At the same time, ensure you’re not underinsured. If your car’s value has been underestimated, a payout in the event of a total loss may not be enough to replace it.
5. Confirm What Extras You’re Paying For
Additional features like roadside assistance, tyre and rim cover, or hail damage protection are sometimes bundled into your premium. If you’re paying for services you don’t use—or if you’ve already arranged them elsewhere—you might be spending unnecessarily.
Conversely, check if any helpful add-ons are available for a small increase in premium, such as car hire or cover for windscreen chips and cracks.
6. Assess Your Excess Amount
Excess is the amount you pay out of pocket when making a claim. Lower premiums often mean higher excess amounts. Before you renew, ask yourself: if you were in an accident tomorrow, could you comfortably afford the excess?
If not, consider adjusting your policy to strike a better balance between premium and excess.
7. Evaluate the Insurer’s Service Record
Finally, do a quick review of your current insurer’s customer service. Have claims been handled efficiently? Are support channels responsive? If your experience hasn’t been positive, it may be time to consider switching.
Reputable insurers like Miway Insurance offer transparent service and digital tools that make policy management easier.
Final Thoughts
Car insurance renewal isn’t just a formality—it’s an opportunity to reassess your needs, improve your coverage, and possibly save money. Take the time to read through your car insurance policy, compare providers, and ensure everything aligns with your current lifestyle.
Doing so helps you stay protected on the road—without overpaying for it.