02 October 2017

Five Days When You Wish You Had Car Insurance

Australians are fortunate enough to have many options on the table when it comes to making the decision on car insurance. However, if you own or are looking to buy a valuable used car worth say, $10,000 or more, or indeed a brand new car from a car dealer you'll need more than the regular CTP Green Slip.

Have you ever considered not renewing your comprehensive car insurance? Or have you ever bought a new car or valuable used car and thought you might save yourself some money by not paying for car insurance? If so, you're not alone. A considerable segment of motorists in Australia are driving with only the basic CTP green slip cover usually due to the low monetary value of the vehicle. More worryingly, there is a sizeable minority of motorists driving illegally, unregistered and uninsured.

Thankfully, the motorist who has comprehensive car insurance has protection for damage to their own car and covers for any damage you may cause to the property of others. Furthermore, Australian car insurance provider, AAMI, allows to drivers to choose higher excess in order to lower premiums.

Now, here are five days when you wish you had car insurance:

Car Park Blues: It's a busy Saturday at the mall. The car park is full and spaces are few and far between. Unfortunately, it's quite common for a fellow shopper to misjudge their entry into the parking spot and grind their bumper the length of your prized vehicle. Remember, even just a little bump given to somebody else's car can cost thousands of dollars to repair.

Cracked windscreen: Driving along the highway a loose stone or piece of gravel can be flicked into the air by fast moving cars and trucks up ahead. If the stone or piece of debris is sufficiently big and it strikes the car windscreen hard enough it can smash or badly crack causing a costly repair bill.

Storm Damage: You know the drill. Your car is parked on the street, meanwhile you are stuck in your office and can't get down to the street to move your car in time before one of those menacing storm comes rolling through! Sydney and other coastal centres along the East Coast are prime regions to be affected by heavy storms. For instance, the infamous thunderstorm that came through in 1999 damaged over 20,000 homes and buildings, took its toll on around 40,000 vehicles and even damaged 25 aircraft at Sydney Airport. Would your car be insured if it were damaged in such a storm?

Car Theft: Sometimes your mates will move your car around the street corner for a laugh, but unfortunately, if you have your car stolen for real you'll be amongst a the crowd of car crime victims. From January 2007 ? December 2007, based on a list of the top twenty cars stolen, around $29.1 million worth of cars were knocked off. In fact, on average there were 187 vehicles stolen each day in Australia. Thankfully, the premiums you pay for comprehensive car insurance will cover the loss. Some insurance companies will even give you complimentary taxi service and up to 14 days car rental.

Accident: If you happen to be involved in an accident, hopefully any injury (or worse) caused to the other driver or yourself will be minimal. Besides that, you're accident will undoubtedly cause damage to your car with panels needing beaten, major mechanical fixes and other smash repairs.