In 2023, IOL reported that about 65% of South African adults owned and drove cars. The startling reality is more than half of those vehicles don’t have an active insurance policy protecting their vehicles.
The truth is South Africans are cash-strapped.
Between battling against unemployment and the rising cost of living, millions of motorists have decided that insurance is a luxury they simply can’t afford.
However, one can’t look at our country’s road fatality rate and not think that car insurance is anything but a necessity.
While car insurance can sometimes cost an eye-watering sum, this is not the case across the board, especially when the car in question is cheap to insure.
Here are the top 4 cheapest cars to insure in South Africa right now:
- Suzuki S-Presso
- Renault Kwid
- Volkswagen Polo Vivo
- Toyota Yaris
Affordability and Insurance Premiums
As someone who may already have insurance, we bet you know all about risk profile and how it affects your insurance premiums.
If not, this one’s for you: the risk profile assesses how likely you are to file a claim.
Factors that influence your risk profile typically include (but aren’t limited to):
- Driving history
- Credit score
- Age
- Location
- The type of car (make and model)
The aim of a risk profile is to create a fair system where drivers who pose a higher risk (more likely to file claims) pay higher premiums, while safer drivers with lower risk profiles pay less.
So, while your dream car might be the BMW M3 Competition or maybe even a Bentley Continental GT, it’s important to understand that these flashy, luxury cars fetch a pretty penny, and so will their cost of insurance coverage.
The reason behind this is the pricier the vehicle, the more the insurer will have to pay out if there's a claim.
The price of repairs typically includes replacement parts, labour costs, and any other specialised repairs suited to such high-end vehicles. Therefore, insurers take all of this into account and use this information to determine how much you’ll pay in monthly insurance premiums.
Additionally, if the vehicle also falls under the category of high-risk vehicles, a.k.a. Vehicles most likely to be hijacking targets, this will affect their premium, too. This is to compensate for the increased chance of a payout in the event of a theft.
Therefore, it’s important to consider the purchase price of a car and the running costs that come with it.
So, while we can’t decide which vehicle you should buy (it’s your money, you can splurge if you want to), we can recommend that you consider a more affordable option.
SA’s Most Affordable Cars to Insure in 2024
2024 is THEE year to insure (if it rhymes, it must be right). One of the best ways to enjoy low-priced premiums is by buying and insuring a low-cost car.
According to an article by Fincheck Academy, the following vehicles are the most budget-friendly insurance options:
- Suzuki S-Presso
The Suzuki S-Presso is a mini crossover SUV or a tall hatchback, depending on how you look at it.
Haters will say it’s ugly (actually, it’s mostly this one designer in our marketing team), but we say the S-Presso is an acquired taste.
What’s even more attractive is its R732 monthly insurance premium price tag. This can be mostly attributed to the model’s inexpensive retail starting price of R175 000 (as per Suzuki’s website at the time of writing).
The S-Presso 1.0 S-Edition manual boasts a 1.0-litre 3-cylinder petrol engine with a 5-speed manual gearbox transmission and a fuel consumption of 4.6 L/100 km (claimed).
Its compact size makes city driving practical while still remaining spacious enough not to feel too cramped. However, like the Polo Vivo, the rear seats can feel a bit snug for taller passengers.
Still, the Suzuki S-Presso is easy to drive and offers essential safety features like dual airbags, ABS (anti-lock braking system) with EBD (electronic brake-force distribution), and rear parking sensors.
Here are some pros and cons of insuring a Suzuki S-Presso:
- Good Drivability ✔️
- Ample cabin space ✔️
- Lacks many features (e.g. no adjustable steering, rear power windows, and just one washer jet) ❌
- Renault Kwid
Launched in 2015, the French creation known as the Renault Kwid is a small hatchback initially meant for the Indian market. Two years later, a newer and more advanced version of the Kwid popped up in Brazil, specially made for the Latin American vehicle market.
The Kwid is best suited for drivers looking for an affordable, fuel-efficient, and practical car. It’s also said to be a good choice for city driving and commuting.
The only drawback is it may not be the best option for long road trips, given its miniature size.
On average, a 30-year-old motorist can expect to pay a monthly fee of R750 for vehicle insurance for their Renault Kwid.
This is largely due to the Kwid’s affordable purchase price tag, with a starting price of R109 900 for a pre-loved option.
The most affordable option of the Kwids is the Renault Kwid Life is all about safety; it has driver and front passenger airbags, ultrasonic rear park distance sensors and a seat belt reminder.
Here are some pros and cons of insuring a Renault Kwid:
- Low purchase price ✔️
- Fuel efficiency ✔️
- Flimsy quality ❌
- Volkswagen Polo Vivo
A favourite amongst South African drivers is none other than the German-manufactured Volkswagen Polo Vivo.
As a car brand, the Polo has seen many reiterations and facelifts since its creation in 1975. Still, it continues to retain its popularity. And it’s easy to see why; the subcompact hatchback is a relatively fuel-efficient, reliable, and affordable ride.
The Polo Vivo offers a surprisingly spacious interior for its class.
However, the rear legroom can be a bit tight for taller passengers, a sentiment echoed by Top Gear SA.
The Vivo is specifically tailored to the South African market, which responded in kind by making the model SA’s best-selling car for a decade.
Despite its infamous reputation as a high-risk vehicle, the VW Polo Vivo still manages to fetch an impressively affordable insurance premium price–a decent R950 p/m.
Here are some pros and cons of insuring a VW Polo Vivo:
- Great resale value ✔️
- Modern design with sleek infotainment system ✔️
- Pricier than other entry-level vehicles ❌
- Toyota Yaris
What’s any vehicle-related list without a Toyota in the mix?
Since making its debut on the international market back in 1997, and gracing SA’s shore 6 years later, the Toyota Yaris has remained a trusted and practical vehicle.
The Yaris offers various engine options**:
- 1.0-litre 3-cylinder engine (known for fuel efficiency)
- 1.5-litre 4-cylinder engine (healthy balance of power and efficiency)
- 1.6-litre GR Yaris version (performance-oriented driving experience)
**Region and model year-specific.
The cost to insure a Toyota Yaris in South Africa varies.
However, you’re looking at paying about R800 to R1 500 in monthly vehicle insurance premiums.
If you don’t drive often, the Yaris's fuel efficiency might help you save big bucks, or you may even qualify for lower mileage discounts.
Benefits like Pineapple’s Drive Less Get Blessed can put money back into your pockets; we offer you up to 30% of your premiums for every month you drive below 300 km. Talk about a sweet deal!
*All premiums are risk profile dependent.
Additional Considerations for Affordable Cars in SA
Some of these amounts might have gotten your blood boiling, with thoughts like, “There’s no way a Polo costs that little to insure!”
That’s the beauty of one’s risk profile–no two are alike, so even though you might own the same vehicle, there are other factors that influence your insurance premiums.
That’s why the need for personalised vehicle insurance will always exist.
Personalised car insurance ensures you receive coverage that matches your unique circumstances and takes things like your driving and insurance history, age, location, and specific risks into account.
Considering such factors means insurers can provide more accurate pricing, resulting in fairer premiums that reflect the actual risk profile of you, as the policyholder.
Personalisation also means you don’t overpay for coverage you don't need or underpay and risk inadequate protection.
How to Reduce Your Car Insurance Premiums
Irrespective of the ride you own, there are a few tips and tricks to reduce your insurance costs.
Here’s how to get more affordable car insurance premiums:
- Insure your car for the correct retail value.
- Maintain a clean driving record/Steer clear of claiming unnecessarily
- Avoiding accidents and traffic violations (easier said than done, but try, yeah?)
- Evaluate and compare your excess against your monthly premium. Remember that a higher excess usually results in a lower premium (but make sure you can actually afford it when you need to claim).
- Combine policies (insure your home contents, buildings and vehicle with the same insurance provider).
These steps might not be revolutionary, but they’re a small start that can help you save big in the long run.
This might be useful for millions of South African motorists, as most of our country’s drivers often lament the price of car insurance.
Only an estimated 30-35% of cars on Mzansi’s roads are insured because insurance is simply an expense many struggle to afford.
Insurance providers have long faced the challenge of getting the masses insured at a low cost.
And thankfully, a breakthrough seems to be on the horizon.
Future trends in car insurance are likely to focus on increased affordability and accessibility, driven by technological advancements and changing consumer preferences.
Advancements in data analytics and artificial intelligence (AI) are expected to revolutionise risk assessment and pricing models within the insurance industry.
Talk surrounding this topic mostly indicates that insurers can better understand individual risk profiles and offer more personalised and competitive premiums by leveraging big data and predictive modelling.
Additionally, regulatory changes and market competition are anticipated to drive greater transparency and flexibility in insurance pricing. This will undoubtedly empower insurance clients to make more informed choices and switch providers more easily.
Conclusion
When considering car insurance affordability, models like the Renault Kwid, VW Polo Vivo, Suzuki S-Presso, and Toyota Yaris, stand out for their lower insurance premiums.
With that said, it’s vital to recognise that insurance costs aren’t only influenced by the type of car you own. Various personal factors and driving habits also contribute heavily to your final premium amount.
Getting clued about about the specifics of motor insurance means you’ll benefit greatly. You’ll also better understand and can make informed decisions to maximise savings without compromising your car’s coverage.
Which is why we strongly urge (think of it as a polite threat, minus the sinister energy) you to take the proactive step of seeking personalised insurance quotes.
And while you’re at it, why not consider Pineapple's budget-friendly comprehensive car insurance for your vehicle of choice?
Our comprehensive policy means total protection, no matter the car and no matter the journey (expect if you’re crossing the border, then there are a few T&Cs. But that’s another article).
Pineapple’s car insurance lets you enjoy the peace of mind that only comes with knowing you’ve got reliable coverage tailored to your needs.
We’re talking protection and affordability, all without breaking the bank.
Don't delay—get a quote, explore your insurance options today, and drive confidently and safely with Pineapple as your favourite protective Passenger Princess.
Please Note: The information provided above is for informational purposes only; you should not construe any such information as legal or financial advice.
Pineapple (FSP 48650) is underwritten by Old Mutual Alternative Risk Transfer Insure Limited, a licensed Non-Life Insurer and authorised FSP. T&Cs apply.
Mathapelo Mosia
Pineapple's Junior Copywriter, Mathapelo Mosia's love for literature was sparked in grade 5 by a teacher's challenge involving books and chocolate. Though the prize was a hoax, she got something better: a passion for reading and writing. At Pineapple, she tackles the challenge of making insurance interesting. Mathapelo graduated from the University of Pretoria (UP) with a BA in Languages, and came first place in the Humanities Department’s First Year Essay Writing Competition 2018. She's responsible for bringing her unique flair to the written word by crafting Pineapple’s marketing copy, blog content, and more.
