They say that customer service for Australian car insurance is one of the best in the world. This is something that Australians enjoy when it comes to car insurance. What is the significance of this? It means that customers of Australian car insurance are generally happy.
Why is customer service great in Australia?
- The process of regulation- Basically, the Australian Federal Government heavily regulates the car insurance industry. The country is pretty much strict when it comes to providing customer service requirement. Insurance companies are compelled to comply with the regulations of the government. The presence of an Insurance Ombudsman Office is also a addition since the people can easily file for complaints against a car insurance agency for poor customer service. You can also voice out your concerns about unfair outcome for claims where you feel that you have been taken advantage of. The office is dedicated to investigating these issues if you push them enough to do so. This means that insurance companies in Australia will not be able to get away with mediocre performance ratings.
- The growing competition- In the insurance market, there are a lot of new players on the field. Aside from this, fierce competition is encouraged by the production of new products. A lot of buyers opt to buy insurance from companies who offer the lowest price. The Internet made it easy for buyers to compare rates and decide if they want to buy from the insurance company. If the customer rating is good, the chance of a company being the choice of a buyer increases.
Different types of Australian car insurance coverage
There are many different types of car insurance in Australia. You may benefit from them depending on your need for coverage. Getting enough coverage can help you save money and protect your other assets.
1. Green Slip Insurance or CTP- Compulsory third party is considered the most basic coverage for every car in Australia. Like its title implies, compulsory means that it is required of the law. This type of coverage will cover for claims for the compensation for severe injury or in case death happens to someone in a car accident. This coverage will pay for injuries caused to your passengers and to other road users such as drivers, passengers of other vehicles, pedestrians, motorcyclists and pillion passengers. This will also pay for injuries caused by the use of a trailer attached to a registered vehicle. What will it not cover for? This coverage will not pay for damages to properties including damages to other vehicles. Injuries sustained by you or any other driver for your car will not be paid for by the insurance company.
2. Third Party Property Insurance- This will pay for the damage caused to the properties of other people, but will not shoulder for the costs for repairs on your own car.
3. Third Party, Fire and Theft Insurance- This is similar to the second policy with the addition of fire and theft to the benefits of the Third Party Insurance.
4. Comprehensive car insurance- This is the most expensive type of Australian car insurance, but can cover for damages inflicted on you and to other drivers involved in the accident. You can be assured payments for medical and repair expenses to all parties involved. It is the combination of all the policies mentioned above and more.
How to save on your Australian car insurance
If you want to save for up to 70 percent on your premiums, you need to consider no claims bonus. You can get the maximum benefits if you have been claim-free for six years. This will give you the maximum bonus set by different insurance companies.
Another option would be finding out the excess level for the insurance policy you plan to buy. Different policies may present different excess levels. The excess level for fire and theft might have a different figure as that of damages. The excess is otherwise known as the deductible in US car insurance. This is the amount that will be shouldered by the policyholder before the policy takes over. Raising your excess can lower your premium costs. Check out if the upper limits will be enough to cover for all your expenses in case that an untoward incident will happen to you and your car.
Get at least three quotes. Comparison shopping will come in handy if your aim is to get the cheapest Australian car insurance. You can easily compare rates online or you can call different insurers to get the quotes offered by the company. Also, don’t forget to ask if you are entitled to some discounts.