Whether you’re driving through ACT’s alpine region or heading to Mount Ainslie Lookout, Australia’s heartland is a great place for road trips. The only difference to insuring a vehicle in the ACT as opposed to some other states or territories (except QLD and NSW) is that you can choose your MAI insurer.
That being said, various factors may impact the car insurance policy you buy, from Third Party Property Damage to Comprehensive. Some of these include:
That’s simple! Comprehensive car insurance pays for repair costs for yourself and other drivers, regardless of who is at fault in an accident. MAI/CTP/Green Slip insurance is different in that it’ll only cover your liability for injuries or deaths to third parties in an accident where you’re at fault.
This type of cover is compulsory to drive legally in the ACT and in Australia – it just goes by a different name depending on the state and territory. Additionally, car owners cannot always choose their CTP insurer, depending on which state they call home.
Absolutely not! Nothing is stopping you from choosing a different MAI provider if you’re not happy with the price you’re paying for cover each year.
The ACT suburb you reside in and park your car overnight can affect the price of your premiums due to the level of risk and insurance claims in the area.
Conversely, where you park your car overnight could also affect your premium depending on your insurer. For example, if you park indoors in a secure garage, your premium may reflect the lower likelihood of someone stealing your car.
It’s wise to contact your insurer when you plan on moving, to understand how or if your new address will affect your premium.
The number of exclusions will depend on your level of cover. For example, comprehensive policies cover more and have fewer exclusions than Third Property Damage and Third Party Fire and Theft. However, there are some common exclusions shared across the different levels of cover, such as:
Some comprehensive car insurance policies may have a small amount of cover for damages to a caravan or trailer when it’s attached to your car, but in general, most car insurance policies only apply to your vehicle. The exact details of what’s covered will be in your PDS.
Some car insurance policies have a new car replacement benefit depending on your level of cover. Typically, if you’re the first owner of a car and it’s written off within a certain time frame (usually the first two years of ownership), you may get a new one to replace it.
Most cars are insured for their market value (meaning the car’s value at the time of a claim) regardless of location, but some policies allow you to insure the car for a set agreed value. The agreed value can change over time, but you’ll know what it is as your insurance provider lists it on your renewal notice. Unlike market value, having an agreed value policy means you’ll know exactly what the amount is that you’re covered for that year.
Towing costs can be covered following a car accident if this benefit is listed in your policy (usually comprehensive policies). Third Party Fire and Theft policies generally include towing following a fire or theft incident.
In most cases, you’ll pay a basic excess when you submit a claim. You may need to pay an additional excess depending on the circumstances of the incident. For example, if someone who isn’t listed on the policy was driving the vehicle, you may incur an unlisted driver excess as well.
Additionally, if the driver was under a certain age, even if they’re the primary driver and listed on the policy, they may face a young driver excess if that’s a part of the policy.
Lastly, window glass repairs and damaged windscreen claims may incur a windscreen excess, though car insurers often waive this with comprehensive cover.