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IAG cuts earnings forecast
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Australia's biggest private health insurer, MBF, says another key milestone has been reached as it prepares to merge with the local arm of the global healthcare group BUPA.Car Insurance
Car insurance companies now have online facilities, which enable drivers to get a good understanding of the company and their policies and rates, without the often uncomfortable feeling of commitment that comes with over the phone or in-person enquiries.
Car Insurance Quotes
To provide accurate online quotes a range of questions are asked based on statistics compiled from past insurance claims. The focus is to determine the level of risk your car is in both while on the road and when parked at your home, plus an estimation of repair costs should your vehicle be damaged or involved in an accident. Considerations include whether you drive a rare imported sports model or a standard family sedan.
Accurate answers will speed up any claims and ensure no claim is rejected on the grounds of false information.
Companies frequently offer reduced premiums to drivers with a “no blame” or “claim free” history which may come under the titles of no fault, no claim bonus or rating one status.
Levels of Car Insurance
Standard levels of car insurance include:
Third Party Only – only covers damage your vehicle may cause to another vehicle or to any property belonging to another person. Third Party Only does not cover injury or death to another person or persons. This comes under the Compulsory Third Party component in your vehicle registration.
Fire, Theft and Third Party – includes all the components of Third Party Only but also covers the vehicle if stolen or if set or catches on fire. These first two options are frequently chosen by drivers of vehicles with a low market value.
Comprehensive Car Insurance – provides an extensive range of cover that varies between car insurance companies. Comprehensive cover includes accidents to your own and other vehicles or property, fire and theft, malicious or other accidental damage such as submersion. Extras such as trailers and personal property in the vehicle at the time may also be covered.
Compare Car Insurance Companies
Drivers are advised to compare insurance companies and cheap car insurance policies, and to read documents carefully to fully understand what aspects are covered.
Within the scope of Comprehensive cover many companies offer further options that will affect the premium, excess and claims – options such as Agreed or Market Value, Nominated Driver and Nominated Driver Low Kilometre, excess reduction, security device discount and more.
Car insurance may also include overnight accommodation and transport, rental vehicle in the intervening period before purchasing another vehicle or having the existing vehicle repaired and new car replacement up to a certain age.
