Colman says insurers consider a wide range of factors when it comes to motor insurance, from the value and age of the vehicle being insured to its engine size - the bigger the engine, the higher the premiums.
Then there are statistics-based factors, such as the crime rate of the area and the risk profile of the driver - men, statistically speaking, are deemed to be riskier drivers than women, for example.
Even the colour of the car will impact the level of premiums charged. Black cars are more expensive to insure than white cars, because black cars tend to be driven faster and by “riskier” drivers, says Colman.
Although many of the above factors are somewhat fixed, she says there are others that are in the control of the insured. Considering that July is National Savings Month, Colman says there are six simple ways that South African drivers can save on their motor insurance premiums.