Car insurance. Its not as fun to road test as that brand new Mercedes SLK with the top down out on the highway, but its just as important as a real road test to consider what type of insurance you need. Where youll need to park your car most of the time, how likely it is to be damaged by fire or vandals, and how often youll really be driving it will also affect your chances of needing to make a claim. Credit Worlds car insurance comparison tool will help you get the right cover.
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If you are looking for car insurance, it is well worth spending some time looking around for the best option. Insurers and insurance policies can vary widely, and the difference between what is offered and what you will pay can be substantial. You may save yourself hundreds of dollars simply by shopping around and finding the right insurance for your car.
So why is there such a big difference between policies and pricing? The price you will be quoted for your car insurance will depend on a number of things, from where you live to what kind of car you drive. Here are some of the factors each insurer will compare before offering you a quote:
Different Types of Car Insurance
Each state has different minimum requirements for car insurance, but there are four main categories to choose from.
Compulsory Third Party:
This is the minimum level of insurance, and you will need it to register your car. This will only cover the cost of personal injury to others involved, if you are at fault in an accident.
Third Party Insurance:
After CTP, this is usually the cheapest option when choosing car insurance. It covers other cars if you are involved in an accident and you are at fault. Although this only covers damage to other cars and not your own, this can be a good choice if your car is not valuable enough to warrant the expense of comprehensive cover.
Third Party, Fire & Theft:
This works in the same way as third party car insurance, but it also covers your car if it is stolen or burnt.
Comprehensive Car Insurance:
This offers the most comprehensive cover, and is usually more expensive than the other options. It will usually offer cover for accidental damage or theft to your own car, as well as damage to other cars and property, no matter who is at fault.
Money Saving Tips on Car Insurance
As previously mentioned, the difference in cost and what is included on each policy can be huge, so it's important to look around to find the best deal. Here are some tips to help you save money and choose the right policy for you.
Most importantly, remember that you can volunteer information when looking for car insurance. While many insurers ask the same types of questions, you can also tell them about any extra driving training you've had, and any extra security features on your car or garage. Anything that may make you seem like a safer driver, could help to reduce the amount you pay.
A no claims bonus can also save you a great deal of money. Check out what is on offer if you have not claimed on your car insurance recently.
Bundling insurance products can also help to save money. If your insurer offers home contents insurance or other types of insurance, they may offer discounts for multiple policies.