How Often Should I Get a Re-Quote on Short-Term Insurance?

Cheaper car insurance in South Africa

The answer to this question is an easy one: every six to twelve months!
What’s not always easy to understand is why it’s important, how it can impact you financially, and why insurers’ pricing changes so often.

Once you understand the reasons, you might find yourself setting reminders on your phone, placing sticky notes on the fridge, or emailing yourself every few months to make sure you don’t miss out on a potential saving.

Let’s go through the reasons.

Key Takeaways (Quick Overview)

  • You should get a re-quote every 6–12 months to ensure you’re not overpaying.

  • Insurance rates fluctuate continuously due to competition, risk changes, inflation, legislation, and claim patterns.

  • Shopping around doesn’t have to be a hassle — a broker can compare multiple insurers for you.

  • Your personal profile (claims history, driving experience, marital status, etc.) directly affects your premium.

  • Regular re-quoting can lead to long-term savings, even if the difference is small each time.

Why and How to Shop Around for Insurance?

The vehicle insurance industry is a highly competitive space. The insurer that offered you the best rate last year might not have the best rate this year. Insurance companies constantly adjust their pricing models, meaning:

  • You may find a more competitive premium elsewhere

  • Even if you don’t find a cheaper rate, you’ll have peace of mind knowing you’re not missing out on savings

Getting an insurance quote doesn’t need to be a painstaking process. When working through a broker, it becomes quick and convenient. Brokers like Quality Quote work with multiple insurers and can shop around on your behalf — saving you time, administration, and effort. So you can get multiple insurance quotes all at once to compare side-by-side.

What Determines an Insurer’s Rate?

Insurance premiums don’t change at random. They’re influenced by a mix of external factors, historical data, and your personal risk profile.

  1. External Factors

There are numerous external factors that contribute to insurers adjusting their rates. These may include:

  • Weather patterns
  • Damaging storms or natural disasters
  • Changes in population demographics
  • Crime trends
  • Legislation changes
  • Economic shifts

This means that insurance rates can change month to month or even day to day, depending on how each insurer assesses risk. Insurers use historical data to forecast potential claim exposure for the coming year, increasing or decreasing rates accordingly.

Not all insurers assess risk the same way.
For example:

  • One insurer may view a seven-year claim-free history as “excellent” and offer a discounted rate.
  • Another insurer may reward a discounted rate after four years claim-free.

Every insurer has its own underwriting rules and risk appetite — which is why shopping around matters.

  1. The Consumer (You!)

 

With all the above being considered, we can’t forget the most influential factor: you.

Your personal insurance history and risk profile are some of the key contributors to your premium. For example:

  • If you’ve been driving for many years without an accident, you’re usually considered a low-risk driver and will receive more favourable rates.
  • If you’re new to insurance or have logged previous claims, you might be seen as a higher risk, which could mean a higher premium.

Fun fact: Your marital status matters!

“Until death do us part!” — that’s right, being married can award you a lower rate. Statistically, married couples are considered lower-risk, while single individuals are considered higher-risk.

If you’re single, settling down might bring you love and cheaper premiums — but perhaps don’t rush in just for insurance discounts!

Get Quoting

There you have it! Insurers’ rates will always fluctuate — there’s no exact month or perfect day to guarantee lower premiums. And not all insurers will have the same pricing at the same time.

Your best strategy?
Shop around regularly or speak to a broker like Quality Quote to see if there are savings waiting for you

Get Quotes for Car Insurance or Vehicle Tracking Now!

 

FAQs: Re-Quoting & Insurance Prices (South Africa)

1. How often should I get a re-quote?

Every 6–12 months is recommended to ensure you’re not overpaying.

2. Why do insurance prices change so frequently?

Rates adjust due to inflation, storms, crime patterns, claim trends, population shifts, and insurer risk modelling.

3. Will my premium always go down when I re-quote?

Not always — but even if it doesn’t, checking ensures you’re not missing out on savings elsewhere.

4. Does re-quoting affect my current policy?

No. Re-quoting simply gives you updated pricing. You only switch if you’re happy with the new quote.

5. Why is using a broker helpful?

Brokers compare pricing from multiple insurers at once, saving you time and often securing better rates.

6. Do insurers all calculate risk the same way?

No. Each insurer has its own underwriting rules, meaning your profile may be priced differently by different insurers.

7. What personal factors influence my premium?

Your claims history, years of driving experience, age, marital status, credit profile, and sometimes even your area.