Chain smash in Japan

Chain crashes tend to be the most costly to society for obvious reasons, and there is nothing worse, financially at least, than a chain crash of expensive vehicles. In December 2011, a convoy of pricey sports cars collapsed like dominoes after the lead ferrari lost control of the vehicle. At the time, it was dubbed the world’s most expensive car crash as it involved a number of Ferraris.

Final Tally: $4 million or plus-minus R59 million in today’s currency.

Other Ferrari mishaps

Local Ferrari smash: On Monday, 10 July, A durban man totalled his Ferrari and was fighting for his life in hospital You Magazine and News 24 reported. Paramedics arrived at the scene to find a yellow Ferrari had overturned according to Crisis Medical spokesperson Neil Powell. He said further investigation revealed a 52-year-old-man trapped inside the vehicle.

An American in Paris: American billionaire Christopher Cox damaged his ‘62 Ferrari GTO at a Ferrari rally in France in 2012. Only 38 of these vehicles were built, making this a rare piece of automotive excellence worth upwards of 30 million dollars (R441 million). Both Cox and his wife were medically treated for minor injuries after another rally vehicle rear-ended them causing the smash.

Football star’s extreme ‘curler’:  Cristiano Ronaldo crashed his Ferrari into a roadside barrier in Manchester in 2009, but then hitched a lift with fellow player and goalkeeper Edwin van der Sar in order to make it in time for training. The sport’s car was registered in his home country of Portugal and is part of a fleet owned by Ronaldo. No injuries were reported but the car damage amounted to 300 000 dollars or plus-minus R4.58 million.

China’s supercar fail

Another of Asia’s costliest car crashes to date happened just last year when a drunk-driver totalled his Koenigsegg Agera, and then proceeded to hide his head in shame behind his clothing until the tow-truck operator arrived hours later.

Final Tally: 3.5 million dollars or plus-minus R51.5 million

Expensive celeb crash in Britain

You wouldn’t suspect Rowan Atkinson of Mr Bean fame to be a petrol head, but that he is with his McLaren F1 supercar making over £7 million in profit from a recent sale.

Final Tally: 1,17 million dollars or plus-minus R17 million rand

In 2011, Atkinson escaped with an injured shoulder after crashing his McLaren into a tree and road sign, before it caught fire in Cambridgeshire, England according to CNBC.

The post The Most Expensive Car Crash Reports Ever appeared first on Insurance Quotes 24.

The Department of Energy announced the inland price of 95 octane petrol will fall by 8 cents. While the wholesale price of diesel will go down by 2 cents per litre.

The wholesale price of illuminating paraffin will decrease by 8 cents.

CLICK BELOW to read about how you can get cash back when you fill up with fuel.

The main reason for the drop in prices is because of a stronger rand against the US dollar. In fact, the last time the Rand/US Dollar traded at R12.95, was over a year and a half ago on 20 August 2015.

Robert Maake, spokesperson for the Energy Department, said the stronger Rand, “cushioned the [fuel] prices by about 13 cents a litre”.

While any drop in fuel is welcomed, a looming increase in levies, such as the fuel levy (30 cents per litre) and the Road Accident Fund levy (9 cents) means motorists will have to face the good with the bad in the coming months.

CLICK BELOW to read the full summary of the annual South African budget speech 2017.

Fuel Prices For February And March 2017

How To Save On Fuel

With the constant fluctuation of the fuel price, we are all looking at ways to save on fuel. Ryan Ravens, CEO of Accelerate CT spoke on  yesterday morning about alleviating traffic congestion in the morning, as well as reducing pollution by participating in a carpooling group.

“80% of cars coming into Cape Town are single occupant vehicles, and half of the people coming into the City are using private cars. If the App gets two people per car, we will halve the number of people coming into the City.”

UGoMyWay App

Accelerate CT tested a few carpooling apps and found that UGoMyWay, in their opinion, worked the best.

The app is free to download on IOS and Android.

The payment method, which can either be daily, weekly, or monthly, is incorporated into the app.

Ravens says people will save on fuel costs by using this app. It is helpful for students travelling to school and university, as well as office-bound people.

“If you are the only person in your car, you are the one at fault,” said Ravens.

CLICK BELOW to have our independent broker compare car insurance quotes across a variety of trusted providers and stand to save up to 30% on your monthly premium!

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Insurance premiums are calculated on various factors, including your personal risk profile, as well as the car you are driving. Various considerations are made about the car when working out the premium. The age of the car, the engine size, what extras are added to the car, as well as whether there is a tracking system installed are all considered. There are, however, standard cars that you will simply pay less insurance for.

Reasons For Lower Premiums

Why would some cars have a lower premium than others? If you are taking the drivers profile out of the risk assessment completely, this is what would affect your premium:

• Some cars are considered “sensible”. The cars in lower insurance ranges are those with low to mid speed engines, whose fuel consumption is average, and which is averagely priced. High-performance cars will never be considered for low insurance premiums.
• The car is assembled locally. This drops the value of the car significantly and is seen as less of a risk.
• Parts are cheaper and easier to find. Vehicles whose parts need to be sourced overseas, and which cost an arm and a leg, will face higher insurance premiums.

Which Cars Fall Into This Category?

Which cars are deemed sensible and considered for the lower premium? Interestingly, they are all standard makes like Toyota, VW, Honda, and Opels. All have low maintenance, are easily available, and are in the average price range. These cars include:

• Volkswagen Polo
• Volkswagen Golf
• Toyota Yaris
• Toyota Corolla
• Opel Corsa
• Toyota Tazz
• Opel Cora Lite
• Toyota Auris
• Hyundai 110
• Ford Figo
• Ford Focus

Others in the low to mid range include the Honda Brio, Honda Jazz, Nissan Almera, and the Kia Rio. These can, however, be slightly more than the previous models, based on the driver profile.

What Are The Most Stolen Cars?

There are, however, certain models from the standard manufacturers that do not fall into the low premium category. These have higher premiums due to the fact that they are at a higher risk of being stolen or hijacked. This, therefore, increases the risk profile of the car and, in turn, increases the premium. These cars include:

• Toyota Hilux
• Toyota Venture
• Isuzu KB280
• Mitsubishi Colt
• Nissan Hardbody
• Nissan 1400 bakkie
• Isuzu KB250
• Toyota Quantum
• Volkswagen CitiGolf

The post What Are The Cheapest Cars To Insure In South Africa? appeared first on Insurance Quotes 24.