1 in 4 Australians are likely to switch their car insurance policy

Last updated on November 25th, 2021 at 02:56 pm by Bill Tsouvalas

The power of the internet has allowed for better informed Australians who utilize it to bag a deal that is affordable and doesn’t compromise quality. Recent research by Roy Morgan showed that one in four Australians (2.54 million) made a move to a new car insurer who offered a better deal before approaching their current provider.

The research revealed that comprehensive car insurance owners will only speak to their insurer to give them a better deal, after finding one that beats their current offer.

For the first time in years Aussies who have comprehensive car insurance have opted to place the power in their hands by moving away from allowing their companies to automatically renew their policies which was at 80.9% in 2013, which has dropped to 78.5% in 2017. Before you look to secure a new deal with a car insurance deal that beats your current deals, here are a few mistakes to avoid.

Making a threat to move without comparing

This is the equivalent of going to court, yet you have little to no evidence to back you up. Take your time and compare comprehensive car insurance deals that match your vehicle. Online tools and comparison websites have made it possible to narrow down an estimate that will match your finances without breaking the bank. The best way is to compare this on an apple for apple basis, and not rely on hear say unless if it is from a credible source.

Not knowing how much cover you need

By not knowing how much you need to cover your vehicle can become frustrating when it’s time to make a claim. Thin of it in terms of buying a fitted sheet that just doesn’t reach the corners of your bed. You could speak to a professional insurance broker who will be able to advice you on what will be suitable for the type of vehicle you have. They will be able to assist you by taking various factors such as what type of driver you are, the age of your car, the model and make when quoting you.

Not Asking

Failing to ask can cost you. By asking around and speaking to an insurance agent can help you weigh your options. It will also help you make a better informed decision when comparing quotes. Ask if you will be able to secure any discounts on your car insurance premiums. You can also find out what to do to further reduce your premiums. Ask if they offer a good driver discount if you have taken a safety driving course.

It can get confusing

Car insurance terms and conditions that come with the policy is not something everyone can easily grasp. There is no need to suffer in silence. If you don’t understand anything that has been stipulated, ask your agent. It will be best not to sign anything you don’t understand to avoid any nasty surprises.