Auto Insurance Costs

auto-insuranceAustralia has an extensive range of auto insurance options available, which are quite remarkable for a country of our size. With so many corporations offering the least expensive and the best auto insurance, there are a few things you should consider. These are:

The Type of Insurance That Would Best Suit You?

  1. Compulsory insurance (third party) - There is something known as a “Greenslip Insurance”, which is a third party compulsory insurance. It is a fundamental form of auto insurance, compulsory for registered cars. Though it does not cover car damages, it does however cover injuries incurred on accident victims.
  2. Third party property insurance - If you get damage someone else’s property or car, this insurance would cover it. However, repair charges will not be included for your vehicle. An expansion of this type of insurance is the third party theft or fire insurance, which insures you in case of a fire or theft of your vehicle.
  3. Comprehensive insurance policy - This is a mixture of the above insurance policies. This implies that if your car and another person’s car is damaged because of your negligence, the policy will also cover the vehicle repair charges for both the parties.

Can The Policy Be Bought Online?
Some insurance companies allow clients to sign up online, which is a distinctive characteristic over a company that does not. Insurance policies online are usually paid for via credit cards, which makes them more affordable in terms of reduced processing fees. They are also very convenient for everyone, as payments can be done online from anywhere at anytime.

Does the Insurance Company Offer Multi-Policy Deals?
Most insurance companies offer multi-policies which include health, travel and home insurance along with auto insurance. In most cases, an insurance company can also offer negotiated rates to a client that has purchased more than one form of insurance from it.

Your Demographic
You may not be aware of this, but the cost of auto insurance can differ based on your location. Premiums may further vary depending on exactly where your residence falls within a particular state as well. Intra-state auto insurance premiums can differ depending on the risks you are exposed to. This means, the more the threat of your vehicle being stolen or in a crash, the more the premium rate you will need to recompense. For example, a person located in a highly populated location like New South Wales may have to pay a higher amount of auto insurance premiums as compared to other states. Other governing parameters include the age and gender as well.

Trying To Get Discounts from Existing Providers
People usually compare insurance rates when they are considering switching from one insurance company to another. In such cases, asking the present provider for a match or surpassing a less expensive quote from other companies is not harmful at all. It may instead give you the advantage of negotiating on better auto insurance costs.

Leading Australian Auto Insurance Providers
Allianz
Real Insurance
The Buzz Insurance
Bingle
Progressive Online
iSelect
RACV
GIO
ANZ
Budget Direct
Shannons
AAIM
1Cover
RAC
Youi
Colonial Insurance
Vero
Seniors
Comm Insure
One Path
Zurich
AMP
Calliden
Ansvar Insurance