Getting the best cover for your car by insuring your wheels is the best thing that you can do. The insurance industry approves 3,361,016 claims, with only about 3% of claims get denied each year. However, there are a few things that you cannot make a claim on and knowing them will work in your favour. Here are five things that you cannot make a claim on.
Wear and tear
Unfortunately, the things we can do to hold back the years on our cars are limited. Car insurance can cover damage to your vehicle should it be sustained from an accident. If the damage was caused by wear and tear that has happened naturally over time, then your insurer cannot cover it. Insurers can’t cover a loss of value due to depreciation.
However, you can take care of your car by having a maintenance plan that will ensure that your car resells at a decent price.
Your personal belongings
It’s important that before you sign a car insurance contract you have a close look at what it does and doesn’t cover. Some car insurances have terms and conditions when it comes to covering your personal belongings. It’s advisable that you research to what extent this applies to.
There could be limits that apply to things such as trade tools and other valuables. Content insurance can be an alternative if you are looking to have your personal belongings covered. Also, keep in the back of your mind that if it is not listed it won’t be covered.
Deliberate damage to your car
Even if you are looking for ways to replace your current vehicle, deliberately damaging to make a claim is considered to be insurance fraud. According to the Insurance Fraud Bureau of Australia, insurance fraud costs $2 billion annually.
It’s a jailable offence that can see you getting jail time of up to 10 years. Even if it is damage that was done with your consent. Unless if your car has been damaged by vandalism or theft, and it is in line with your policy terms then you can make a claim.
If you travel out of country
If you are planning on taking your car to see the globe with you this will be something you have to consider. Since most car insurers bill you according to where you stay in the country, it will not be covered once you leave the borders. Some policies might work in specific location restrictions or will offer you a different type of cover to assist with the new arrangements.
If you make unapproved repairs
Whatever you plan to do to your car, the general rule of thumb is to notify your insurer to avoid any shockers in the form of increased premiums or making your claim void because of unapproved repairs. Some policies can be void if you get any car repairs from an unapproved provider. Loss or damaged caused by those repairs will also not be covered.
When it comes to getting the best deal from your car insurance it’s always best to ask questions and read the T&C’s that come with it.