Perfect match: Finding the right car insurance cover

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If you apply the same commitment to finding a partner when choosing car insurance, you will find the right fit while saving time and money, according to Sandy Bhalla.

March 3, 2009

Searching for the right type of car insurance cover can be like searching for that special someone. If you make some good decisions you can save yourself a lot of time and money but if you’re not careful, you may leave yourself exposed.

So how do you set about choosing an insurance cover that’s right for you? Exactly as you would in any relationship, by determining the type of product you require, the level of risk you are willing to take and the amount of investment you can afford to make.

No frills cover
If achieving low cost is your main objective then taking budget cover, such as a ‘no frills’ car insurance policy may be your cheapest option. Opting for ‘no frills’ car insurance means you have cover for all the most basic requirements that enable you to continue driving on the road without any of the added extras. Unfortunately this also means that you may be accepting more liability in the event of an accident and that any extra expenses will fall out of your pocket, should you need them.

Insurance with all the extras
However, if its peace of mind you are after, full coverage insurance at a higher premium may be your preferred choice. Depending on the provider, a higher premium will cover you for a range of convenient extras including coverage for personal belongings should they be stolen, choice of your own repairer, as well as windscreen replacement or a courtesy car.

The higher the premium you are willing to pay, the less you may have to hand over when misfortune strikes.

For a cover to best suit your needs, calculate the time you actually spend driving your car and do your research for insurance policies online that meet your basic requirements. Different providers will offer different benefits so make sure you always read the product disclosure statement (PDS).

With so many options available and new products and providers continually entering the market, it’s easy to get side-tracked. Comparing quotes and services online will save you time and money. Remember, just as you would in your search for a date, it’s important to always remain focussed on what you really need.


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