Motor Insurance – Make Sure You’re Fully Protected For The Most Common Claim Situations

Buying a motor vehicle insurance policy seems to be a easy task. You just use a simple online calculator and then pick the policy with the best premium quote. However, unless you pay close attention to the wording of these policies, you could be taking significant risks that might leave you seriously out of pocket in the event of a claim.

It happens all too often that we analyse existing policies of new clients and find significant gaps in cover that they simply weren’t aware of. And unless you are very familiar with the legalities of policy wording, you could be taking unnecessary chances.

Let’s take a closer look at Australian car insurance covers.

 

What Does Motor Insurance Cover?

It’s important to understand the different components that can make up a motor insurance policy, as not all of these are compulsory, and yet they all provide significant protection from certain risks.

Compulsory Third Party (CTP)

Every state and territory in Australia requires a certain minimum cover that is generally referred to as compulsory third party cover. This provides cover for any person you might injure while you’re driving your vehicle.

However, it’s important to understand that this will not cover damage to other people’s property, and you will not be able to claim any damage to your own property.

Third-Party Property

This generally goes hand in hand with CTP, and it will insulate you from the financial risks involved in the damage done to other people’s property, e.g., other cars. It is absolutely critical that you are fully covered for such damage.

Financial exposure can become significant, especially in multi-vehicle accidents where claims can run into the tens and hundreds of thousands of dollars.

Fire And Theft

This is a typical add-on to motor policies that will protect you if your own vehicle caught fire or was stolen. With especially car theft being a significant problem, you should always consider avoiding the risk of being left out of pocket if someone steals your car.

Comprehensive

Comprehensive cover basically provides protection from most financial risks associated with driving a vehicle. Damage to other vehicles, as well as your own, will be covered. It will also often include cover for legal costs that may arise out of a situation where liability for an accident is in dispute.

 

What Risks Could You Be Exposed To?

There are 4 main risk areas that you want to consider, and at Aspire Insurance Solutions, we can make sure that you get the best possible policy to cover these.

1 – Windscreen Cover

Having a windscreen replaced can become quite expensive, especially if the damage happens out of normal working hours. Unfortunately, accidental and malicious damage to glass on your vehicle is quite common, but cover for such incidents is very reasonable.

2 – Hire Car Cover

In many cases, traffic accidents can do enough damage to your vehicle to require several days’ worth of repairs. If you’re reliant on your car for family life and commuting to work, then a policy that provides a hire car while your own is being fixed is a very good option.

3 – Traffic Accident

At Aspire Insurance Solutions, we always recommend taking out a fully comprehensive cover. Even if you own a relatively cheap car, having to replace it suddenly can often happen at the worst possible time.

With comprehensive cover, you can at least make sure that a portion of the replacement costs will be paid out as part of a claim.

4 – Rating 1 Protection

Under normal circumstances, when you have an insurance claim, you will lose any no claims bonus that you may have accumulated over many years. These bonuses can reduce your premium by over 50% in some cases, which makes them very valuable.

With a rating 1 protection on your policy, you are able to protect that no claims bonus, meaning that in the event of a claim, you will retain the full bonus and not have a shock upon policy renewal.

 

Why Dealing With Aspire Insurance Is Your Best Option

 

Expert Advice With 24/7 Support

At Aspire Insurance Solutions, we have a team of brokers that specialise in all types of motor insurance policies. With decades’ worth of experience, we can fully assess your personal circumstances and make a full car insurance comparison of all available policies.

And when it comes to an unfortunate event of a claim, we provide dedicated 24/7 support to assist you in the claims process.

Customised Solutions

Whether you need cover for a brand-new sports car, or your family minivan, customising a policy to suit your personal needs will always provide you with the best cover. This can include additional drivers, including your spouse, partner, or children, and will always ensure that you are fully protected.

Annual Policy And Premium Review

You are probably used to shopping around at each policy renewal, and you’ll understand how time-consuming that process can be. Your dedicated broker at Aspire Insurance will take care of this process every year and compare car insurance quotes from the most competitive providers.

This way, you will always be able to ensure that you’re fully protected and don’t end up spending more than you have to.

Face To Face Advice

While online shopping has become incredibly convenient, the attraction of cheap policy premiums can often result in cover that doesn’t provide full protection. And in many cases, this comes as a surprise when people have to submit a claim.

At Aspire Insurance Solutions, we speak with all clients face to face or over the phone to make sure we fully understand your needs and that you understand what the best policy options are.

Contact Us Today

Speak to one of our brokers on 1300 886781 today and receive a free assessment of your needs and a no-obligation quote. If you have any concerns that your current policy may not be providing the right amount of protection, then contacting us is your best opportunity to get some peace of mind.