There’s nothing like a Sunday drive, getting out of the house to enjoy the sights and sounds of the neighborhood behind the wheel. While you may believe you’re a safe driver, having car insurance is the all-important safety net in the event of any incident that may arise. Shopping for auto insurance can be stressful without knowing what to look for in pricing and terms and conditions. Here are a few things to know about these insurance policies before you hit the road.
1. Green slip insurance is a must, but the bare minimum.
To legally hit the road in Australia, you are required to have compulsory third-party, or CTP, insurance, also known as a green slip. This insurance policy is the bare minimum of coverage, designed to help drivers from being held financially responsible in the event that they injure someone in a car accident. This includes passengers, pedestrians, and other drivers. You can also submit under CTP insurance for access to medical treatment or compensation. It does not cover damage to vehicles or other property.
Getting a green slip insurance policy insures you throughout Australia, but how you acquire this coverage differs by state. In most states, CTP is included in the cost of registration fees for your vehicle. Those states will allow you to choose your policy from four insurance companies. However, in New South Wales, you are able to pick your policy from six different car insurers.
2. Consider the driving habits of everyone on your policy.
If you’re looking for auto insurance in Queensland and find yourself looking up “car insurance QLD,” you’ll want to go into your research with an understanding of the vehicles that will be on your plan, the drivers, and how often those cars are on the road.
When looking at insurance quotes and your budget, you’ll want to understand how expansive the coverage may be. If you’re driving is limited to just to and from the office or school, you may not want as extensive as a plan as someone who spends most of their day in the driver’s seat.
Comprehensive insurance can help with the cost of repairs or even the replacement of a vehicle or property regardless of fault in an incident. It can also cover the cost of a tow or damage caused by other drivers.
Third-party property coverage can take care of any damage you may have caused to another person’s vehicle or property. This includes legal costs and claims service. Third-party fire & theft car insurance helps provide cover for loss or damage to your car if it’s stolen or catches fire. This also provides liability coverage for damage caused by your auto to another person’s property. This is recommended for a new car owner.
3. Driving history will impact your premiums.
Shopping for an auto insurance policy puts focus on insurance premiums, deductibles, and terms and conditions. An auto insurance provider will zoom in on the history of those under a policy behind the wheel. For example, teenage drivers and older drivers are considered a greater risk, increasing premiums through an insurance provider. If you have a history of making several claims under prior car insurance coverage, that will be taken into account as well.
In turn, car insurers will offer up discounts for safe driving, and not submitting claims over an extended period of time. They do also provide discounts to cover the higher costs of coverage options for high-risk drivers. Some insurers reward teenage drivers for good grades or senior drivers for taking defensive driving courses. Those discounts can even be extended by an auto insurance company with other lines of coverage. You can be rewarded for a bundle with home insurance, health insurance, and life insurance among other lines.
