Most car owners tend to stick with the same insurance policy throughout the lifetime of their ownership. It’s straightforward and convenient without having to fuss about switching insurance policies.
Through this laziness, most car owners don’t get the best value from their car insurance policies. Given the right factors, switching policies can offer greater value that goes beyond money. Coverage elements such as choice of repairer could be a deal maker too. There are deals available like Amica discounts and more that could offer you a reduced fee for the same if not better coverage. It’s always beneficial to check quotes once in a while and especially before your current policy renews
With so many options for insurance, it is always crucial to read the Product Disclosure Statement before making a decision about any car insurance policy. Problem is, approximately 80% of Australians do not read the PDS before buying their insurance. Don’t be another statistic.
Here are the top reasons why you should switch car insurance policies.
Better customer service
If you’ve gone through a tough time dealing with your car insurer, it’s probably time to switch insurers for easier insurance management in the future.
You should, however, consider the cost of cancelling your current insurance policy when switching insurers as hidden fees may amount to a lot.
Choice of repairer
One of the most significant elements of a car insurance policy, the choice of who completes your smash repairs can play an important role. Some car insurance policies will void your insurance claim should you work with a repairer not permitted in your policy.
Should an accident happen somewhere you aren’t familiar with, and there aren’t any permitted repairers within range, it would be painful to have to pay for the damages from your pocket due to the insurance claim becoming void.
Change in circumstances
Perhaps you have a change in circumstances and one of your kids are starting to learn how to drive. If your insurer doesn’t offer affordable young driver insurance, you most likely will get better value by switching car insurance policies to cater to your child.
No agreed value
Perhaps your insurer doesn’t offer the agreed value coverage and only provides the market value insurance for your car. In this circumstance, you may be faced with losing out on more cash should you have to cover the excess yourself in an unfortunate accident. After all, you want to ensure that you receive the right value for your car should an accident occur. In such case, switching car insurers might be the right way forward.
No matter the reasons for changing your car insurance policy, it is always worth comparing insurance providers every once in a while to ensure you get the best value. It doesn’t matter if you save $20 or $100 a year. Look at it is an opportunity to spend that money on something else beneficial instead.
If price is an influencer when decided to change car insurance, it is critical that you do not sacrifice any policy benefits. Also, read the fine print carefully to know what you are signing up for.
Consider all options and compare car insurance providers diligently. Ask yourself questions like “is it worth changing providers?”, “do I have cover straight away from the new insurer?” “Should I review the cover value provided for my car?”.
Some questions like whether you should change providers after a recent accident should be reviewed carefully. Doing so may increase your premium, although you may negotiate a better premium rate with another insurer. The right insurance policy for you should include things like the right to repair, have flexible add-ons, cost of your premium, customer support assistance and whether you will need roadside assistance due to your insurance polic
