Better Homes and Gardens (Australia)
What a simply STELLA idea!
About to insure your car? Tips to help you save money and angst come claim time
REVIEW YOUR POLICY ANNUALLY
Check your renewal policy. A large number of customers automatically renew their insurance without comparing it with last year’s premium or shopping around. By doing this, they unknowingly may end up with significant premium increases on renewal, especially if the original premium was heavily discounted. What does this mean? Your loyalty to one company may not be rewarded financially, but you will not know unless you compare and are prepared to switch if you can get a better deal elsewhere.
LOOK FOR PRICE AND QUALITY
The cheapest premium is not always the best. It is not unusual for cheaper and budget insurance brands’ policies to contain a number of exclusions for things covered by other insurers. So always check the exclusions and the excess, because you don’t want to be surprised come claim time.
Take heed of the clause ‘with insurance you are actually buying a claims process’. Outside of price, the claims process is the second biggest reason customers leave an insurance company. Look at reviews and social posts detailing customers’ claims experiences. Many insurance companies defer to overseas call centres, and this is where ‘you get what you pay for’ kicks in.
UNDERSTAND POLICY INCLUSIONS AND EXCLUSIONS
Assess your current needs. In the event of an accident, can you hire a car regardless of at-fault status or do you have coverage for baby gear? Evaluate your needs and expectations, and choose a company with a policy that caters to them.
Increasing your excess may result in a reduced premium.
Driving less? Have your circumstances changed with regards to distance and frequency travelled? A reduction in the kilometres driven per year may reduce your premium.
Did you once have finance on your car and now you don’t? Let your insurer know when finance on your vehicle is paid out, as this may reduce your premium.
Align with a like-minded insurer.
Like the idea of funding the next generation of female-founded businesses? Check out Stella, a new insurance brand that is giving a portion of its customer premiums to supporting female entrepreneurs.
For more information, visit stellainsurance.com.au.