Make Conscious Vehicle Insurance Purchase Decisions with These 5 Tips!
Having four wheels and vehicle insurance need not be an expensive affair if car owners in Australia pay enough attention to certain aspects of buying them. For example, purchasing cheap car insurance is pretty straightforward through car insurance online services.
Now it is easier than ever before, as you can look at multiple plans an insurer is offering and the benefits of each through a few clicks. You can quickly browse online to check and compare offers posted by several insurance providers. Then, request quotes and buy a policy that suits your budget and vehicle needs.
However, we have a word of advice here. Kindly read the Policy Disclosure Statements in their entirety before buying an insurance policy. They are vital documents you must refer to know what conditions are covered to have a successful claim in the future if the need for a claim arises.
Meanwhile, read the below tips to know how you can bring down your insurance premiums by making a few conscious decisions.
Purchase the right car
Your vehicle plays a significant role in deciding your car insurance premiums. The fundamental elements your insurer looks upon are – the make, model, age, safety rating and price. So, when comparing different cars that fit your needs and driving lifestyle keep these factors in mind too.
As for the lifestyle factors – Are you driving your car only to shuttle between home and work? Or to make distant/adventurous trips on the weekends? Or do you need to travel day in and day out to market your products or grow your business? How many people will you need to drive around? How much space do you need for luggage? Tell yourself why you need a car, so you can make a better judgment about buying a small/big car.
Also, consider the fuel economy, operating costs of different vehicles, and the availability of spare parts in times of repair or replacement before purchasing.
Level of insurance cover
The most basic car insurance plan may cost you less on premiums; however, it may not give your vehicle the best protection. You may be able to claim only in limited scenarios and more likely spend much of your savings in times of accidents, theft, fire, or other harsh weather events. Figuring out what you need helps you choose the right cover for your vehicle.
Selecting optional extras
Insurers often have a list of add-on benefits like roadside assistance, hire car, etc., which car owners can choose from. Car owners can pay a few dollars on top of their standard premium to have that extra protection for their vehicles if they deem it necessary. Contemplate how an extension of insurance cover may benefit you in the future before opting for one or more of them.
Choose excess wisely
On choosing lower excess, you may need to pay higher premiums, and on the other hand, opting for a higher excess may require you to pay lower premiums. The latter looks more promising than the former on the surface. However, the higher the excess you select, the higher the money you need to pay while claiming. Consider what you can afford, vehicle usage, and driving skills before deciding.
Additional car security features
Supplementing your car with safety devices and features like immobilizers, theft alarms, reversing cameras, dash-cams, etc., can help you with cheaper vehicle insurance. The simple reason is, enhanced vehicle security potentially reduces the risk of accidents and thefts. For some insurers, this is enough to lower your premium, while others don’t take extra security into account at all.
Car owners in Australia can shop around a little before purchasing or renewing their cheap car insurance policies to avail of the best offer through car insurance online assistance. Many insurers also provide specific discounts when policies are bought online. So, buy a policy online and start saving!