Here’s a quick look at the different car insurance options:
• Comprehensive Car Insurance: Choose comprehensive car insurance for extensive protection – it covers you for fender benders and collisions, as well as theft, vandalism, fire, floods and storms. If the thought of anything happening to your car keeps you up at night, this could be the policy for you.
• Third Party Property: Third Party Property could be an appealing option if your car is more ‘bomb’ than ‘the bomb’. It covers damage you cause to another person's vehicle or property, but won't pay for repairs to your own car.
• Third Party Fire and Theft: This cover has the same benefits as Third Party Property cover, but with additional fire and theft protection for your car in case it gets stolen or your car goes up in flames.
Now that you know your policies, here’s some tips on how to choose one.
When it comes to car insurance, the cheapest policy isn't necessarily the best. As many drivers have been unfortunate enough to discover, no policy is a 'good deal' if it doesn't have the inclusions and benefits you need when you have to make a claim.
Whatever kind of policy you’re after, make sure you always consider what you’re getting for your money.
Unfortunately, there is no one-size fits all ‘best car insurance’. The most suitable car insurance policy is going to be different for everyone and really comes down to weighing up a number of factors such as your age, driving history, how much you use your car and, of course, your budget. And remember, cheapest is not always best if you could be left significantly out-of-pocket should you need to make a claim.
Be sure to take advantage of driver discounts and other money-saving features on your policy.
• Young drivers. If you're under the age of 25, you could face stiff premiums when taking out a policy, so it’s a good idea to review your policy annually.
• Older drivers. Being an older driver could mean you’re eligible for lower premiums. Depending on your age and driving history, you may be able to get significant discounts when taking out a new policy. Don't be afraid to compare and switch policies at renewal time.
• Multi-car policies. Did you know that multi-car policies can offer great value? This is a great option for households with teenagers or adult children still living at home. Consider bundling your policies together for even bigger savings.
If the thought of reviewing a range of policies is making you sweat, iSelect can help. We'll provide you with a quick, no-cost comparison to help you find a suitable policy.