It’s impossible to predict what might happen on the roads. Accidents can happen no matter how good a driver you are. Driving a car is among the most dangerous activities you can do.
If you had to pay out of your pocket for repairs, the cost of accident damages would be very high. Having the right insurance will ensure that you are financially prepared for an accident.
We have taken a look at all the types of insurance that are available and how to ensure you get a great deal.
Compulsory Third Party Greenslip
This insurance is the simplest and most affordable type of insurance. This type of insurance covers you, the vehicle owner, as well as other drivers of your vehicle from legal liability if you cause injury to another person or they file a personal injury case. CTP Greenslip is mandatory in Australia. However, it does not cover injuries or property damage.
Suitable for: Those who rarely drive and those who do drive but only for short distances in low traffic areas.
Third-party
Third-party coverage is another basic type of insurance. It protects other people’s cars and property in the event that you cause damage to their vehicle. Although it’s one of the most affordable types of insurance, if your car is damaged in an accident, your policy will not cover you unless the accident was your fault. You will need to file a claim if the damage is caused by another person. You won’t get coverage if your car is damaged or stolen by fire, weather or other natural causes.
For: People who don’t drive often and have an older car model that can’t get insured.
Third party, fire, and theft coverage
This type of insurance is sold as an ‘add-on to third party coverage. It provides protection in the event that your car is stolen, damaged by fire, or is damaged. The insurance provider will tell you the maximum benefit amount.
For: People who have a more expensive or slightly older car but leave it parked overnight on the street.
Comprehensive car insurance
Comprehensive car insurance is the best option for people who want total peace of mind. It covers all costs related to repairs regardless of who was at fault in an accident. Comprehensive policies also include coverage for theft or damage to your vehicle due to fire, storm or other causes. This type of insurance is most expensive and will have higher premiums, but it is worth it, especially if your car is a newer model.
For: People with more recent, more expensive vehicles and anyone who wants peace of mind.
You should shop around to find the best policy for you. Talk to representatives from each agency to discuss your needs and determine the best policy.
Don’t assume that the insurer or policy you have chosen will always be the best. It’s a good idea to consider your options when it comes time for insurance renewal.
With a little patience and research you can make sure you get the best deal. No matter if you are looking for new or used cars, there is an insurance policy that will suit your needs. There are many insurance options available in Perth, Sydney, and other major Australian cities.
