Many drivers are waking up to the fact that they have countless options when it comes to car insurance. If you’re happy to spend a few minutes at your computer or even on your phone to compare your options, then you’re bound to be happier in the long run.
Not convinced? Here are four reasons why many Australians are seeking legendary car insurance.
1. You can’t afford to pay the repair bill of a luxury sports car.
Australia is the most expensive country to live in, according to Deutsche Bank’s 2014 world consumer price index. That means we need to stay vigilante of any savings we can find! So consider what would happen if you ran into a brand new BMW without insurance. Even if you did very little damage, the cost to repair could be considerable.
In this situation, with comprehensive car Insurance you would be covered for not only the damage you cause to other parties (or property) but all damage caused to your own car. So even if you destroy a luxury supercar with your Land Cruiser or Audi, the costs are covered.
2. You could be missing out on fantastic extras.
Perhaps your circumstances have changed. Maybe you’re earning more than you did last year, or you’ve purchased a new vehicle. For whatever reason, there’s a certain car insurance ‘extra’ you want now that wasn’t originally included in your current policy; like windscreen cover, or roadside assistance membership. Don’t settle for less – we’ll help you track down a product for a price you’re happy to pay, that includes all the features you want.
3. You shouldn’t be paying so much for car insurance.
Australian motorists (on average) are paying more for car insurance now than they were five years ago, according to the Australian Insurance Council.
Source: AIC General Insurance Industry Trends
N.B. According to the AIC, “The numbers in the series do not represent dollar values or frequencies. They represent the percentage change in the index numbers between two consecutive or distant quarters. This provides an indication of the underlying trend change in premiums, claims frequency, claims size and cost per policy.”
However, competition in this market continues to be significant, which means you can still find cheap car insurance if you look in the right places.
So, how can you save? A safe driving history is very well regarded in obtaining a better premium when taking out car insurance. This ‘
Are you accident-free but still paying an arm and a leg for insurance? Perhaps you should consider a higher excess policy, or one with fewer features. There are lots of policies to choose from, and we can help you shop around to find cheaper deals.
4. You want a quick turnaround on your claim.
You’re busy, we totally get it. The last thing you need is a drawn out claim’s experience if you get into an accident. However some comprehensive policies offer a hire car option for a small additional fee, so you can use this while you car is being repaired following an accident. In the event that you car is stolen, most insurers provide you with a free hire car, going a long way to make a bad situation tolerable.
Roy Morgan Research looked at the number of car insurance policies they expect to be renewed in 2015, and found a larger percentage of people (compared to 2014) would be unlikely to renew with the same company. You can also follow their example, provided you do some research beforehand.
If you’re looking to start this research, there’s no good reason to wait. ComparetheMarket.com.au does all the comparing for you – you simply fill in some questions about your vehicle and driving history and we’ll show you a range of great policies. You’ll only pay with a few minutes of your time, so why wait? Get started with our car insurance comparison tool.