Insurance for Cars under R250 000
Cash Back
Simply add the optional Cash Back Bonus to your Budget Insurance policy and if you remain claim free for two years, we’ll reward you by giving you money back. Our Cash Back Bonus is unique in the sense that you only have to wait two uninterrupted years to start receiving your rewards and you’ll keep on being rewarded until you put in a claim. Best of all only certain claims will reset your Cash Back Bonus clock.
Budget Lite Benefits
Tailor-Made Insurance
Car valued under R250 000? There’s a Budget Lite plan for you! Cover your vehicle with tailor-made insurance for cars that are valued up to R250 000. When your budget is tight, take out Budget Lite.
Cars Worth Less Than R250 000
If your car is full of dings and dents, you probably don’t need comprehensive car insurance, but something a little lighter. Budget Lite was made for cars worth less than R250 000.
R1 Million Third-Party Cover
All our Budget Lite plans automatically come with up to R1 million in third-party cover. If you accidentally damage someone else’s property while driving, you can be held liable. This cover protects you financially.
Budget Lite Insurance
If your car has been around the block (a few times) then you deserve a special kind of insurance. We know that not everyone wants cover for absolutely everything when it comes to car insurance and that finding extra money each month to pay your car insurance can be hard. This is why, at Budget Insurance, we’ve come up with three super affordable car insurance packages for smaller budgets. Check out the three options in our Budget Lite range below and pick the one that best suits your pocket. We’re going back to basics and keeping things simple – as simple as getting a Budget Lite Insurance quote online in minutes!
What is Budget Lite Insurance?
Are you driving a car that's under R250 000? If you answered ‘yes’ to this question, then Budget Lite cover could be just what you need.
We get that everyone has different budgets, and we’re here to look out for those with the smaller ones. Our three Budget Lite options offer three affordable car insurance options for vehicles in the lower price bracket. We’re pretty sure that you’ll find the one that’s right for you.
Budget Lite 1
If your main concern is theft and third-party cover, then Budget Lite 1 is our car insurance option for you. Your car is covered if it is stolen or hijacked and you will be covered for up to R1 million in third-party cover. You can even upgrade your cover to include your car’s sound system if you like.
Budget Lite 2
Budget Lite 2 insures your car if it’s written-off after an accident, covers up to R1 million for third-party damage, and theft and hail damage cover. We’ll also throw in our Accident Assist benefit which includes towing and storing your car after an accident.
Budget Lite 3
With Budget Lite 3, you get full cover if your car is written-off after an accident, up to R1 million third-party cover, insurance for theft and hail damage, and limited accident cover. We’ll also tow and store your car after an accident with our Accident Assist benefit. Budget Lite 3 is now available for financed cars, too!
Car Insurance Terms
Excess or deductible
This is the amount you pay for an insurance claim before your insurance coverage kicks in. For instance, if you were involved in a car accident, the excess is payable upfront to the service provider, like a panel beater, regardless of who is responsible for the accident. Your excess will vary depending on policy terms and coverage levels.
Write-off
If your car is written off after a car accident, it means the cost of repairing the damaged vehicle exceeds its current market value. In such cases, the insurer declares the vehicle a total loss and reimburses the policyholder for its pre-accident value minus any deductible and salvage value.
Third-party claim
Refers to a claim made by someone other than the policyholder against the policyholder’s insurance coverage. It typically involves compensation for damages or injuries caused by the policyholder's actions, such as a car accident where the policyholder is deemed to be at fault.
Premium
This is the amount of money the policyholder will pay to an insurance company in exchange for insurance coverage. It is paid on a monthly or annual basis and is based on various risk factors, coverage levels, and the type of insurance policy.
Absolutely amazing service! Thank you to Eugene who helped the morning of the accident. Our claim was handled in record time, and you phoned exactly when you said you would. Thank you Budget. All your people are gems.
Annelize Faca
Frequently asked questions
Other Car Insurance Products
If your car is lost, stolen, damaged in an accident or by a natural event, our Comprehensive Car Insurance will cover it. If you damage someone else’s property, we’ll cover that too.
Similar to our Comprehensive Car Cover option, BetterCar Value pays you out for the same car but one year newer if yours is written off.
This value-added product pays for you to repair small and light dents, chips, and scratches that might occur on the exterior of your car.
As cars get older, they’re more likely to suffer mechanical and electrical faults. These can be expensive to repair or replace, but not when you have a Motor Warranty.
We’ll cover you for third-party damage you cause, if a fire damages your car, or if it’s stolen – but not accidental damage your own car sustains.
When you pay off a car, there might be a period of time when your car insurance wouldn’t quite cover the outstanding amount – that’s why we offer Auto Top-Up.
Third-Party Only cover is the most basic of all our Car Insurance plans. It’s perfect if you have a small budget and your car isn’t worth that much.
With the state of our roads, you deserve a good cover to protect your tyres against pothole damage and uneven roads. Our cover incudes puncture repair, wheel alignment and more
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August 18, 2025
