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Car Insurance

 

Car Insurance

If you own a car, then you should have an insurance policy for it. In Australia, insurance is compulsory. The required type of car insurance policy is Compulsory Third Party (CTP) insurance or 'green slip' after the color of the paper upon which it is printed.

Quotes: Quotes can be obtained by visiting the insurance office, or requesting for a quote online. Obtaining a quote online is a rather tedious process but worth it in the long run. There are several fields to fill, but these quotes are provided free of cost by insurance companies. You should get at least 3 to 4 so that you can compare them to get the best bargain.

Policies: There are quite a few variants in the type of policies so you need to check out the different types available. Some options are mandatory but others are left to your choice so you can select the most suitable one. For example, do you want to protect only your car or cover for damages to other people's property as well? Would you like to have third party car insurance? The answers to these questions will dictate the type of policy you buy.

Companies: A Few of the Better Known Australian Car Insurance Companies are:

  • Government Insurance Office (GIO)
  • Allianz
  • Australian Associated Motor Insurers Limited (AAMI)
  • CGUN
  • National Roads & Motorists' Association (NRMA)
  • NIB
  • Suncorp
  • AXA
  • Chubb

Claim: While making a claim make sure to be aware of the clauses and ask your insurer in detail what is covered and what is not because you will get a better picture of how much you will have to pay (you usually have to pay some amount).

Reviews: If you go online, you will see reviews of insurance companies by customers. It is very important to see these reviews as they indicate the type of service being rendered.

Cost: You might like to consider the cost involved in an insurance policy. This is especially important if you own more than one car.

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