When most people buy a car, they don’t anticipate the many hidden costs that are associated with regular maintenance of a vehicle. Apart from the main services, cars are also prone to minor damage like scratches and dents from the elements, errant shopping trolleys or careless parking. It is worth keeping your car in peak condition so that it retains a high resale value.
Servicing and maintaining your car
If you purchase a new car, you might receive a motor plan with your purchase which covers general servicing for a certain number of kilometres, or until the car is a specified number of years old.
What happens when this runs out, though? Most vehicle owners don’t actively save money to pay for their car’s annual services, and even fewer have cash available if something unexpected goes wrong.
Fortunately, there are insurance policies which can be purchased to provide an extended motor warranty for your car. From good insurers, these policies are available to cover both new and used vehicles, as long as the car is less than 10 years old and has fewer than 200,000 kilometres on the clock.
This extended car warranty policy will provide cover for the cost of unforeseen mechanical breakdowns and assists in the expense of maintenance.
What about minor vehicle damage?
In addition to the costs of regular vehicle maintenance and repairs to the engine or moving parts of your vehicle, there are other associated costs with running and maintaining a vehicle. These include repairs for minor damage such as scratches, chips and dents.
Very often, this type of superficial damage is not covered by comprehensive motor insurance as it falls below the excess of many policies. Additionally, it’s often not financially feasible to repair small dings and dents as this may increase the cost of your car insurance premiums, or affect your no-claims bonus.
Over time, minor damage can turn into a bigger problem, particularly if rust starts to set in. To keep your vehicle in top market value, it’s worth ensuring that it is kept in the best condition.
It is possible to take out a car insurance policy to cover the cost of repairs for minor vehicle damage. A monthly premium will ensure that you won’t have to pay out any excess on claims for repairs done under this plan.
Certain insurance cover even provides for on-site repairs. Mobile repairmen will come to your home or office to repair the damage, saving you time and offering you the highest convenience.
In South Africa, where there is a thriving used-car market, it makes sense to preserve one of your biggest assets to ensure that you are able to receive the highest resale value when you either sell your car or trade it in.
Speak to a specialist insurance broker about car insurance that works for you. This will help you budget for life’s little mishaps and will also keep you on the road in a vehicle that looks and runs as good as new.
Source by NEO@OGILVY
