Navigating the roads in Australia comes with a hefty price tag, and unexpected vehicle repairs can significantly impact your finances. Vehicle insurance is designed to cushion these unforeseen costs, yet it represents another addition to your recurring bills. Fortunately, opportunities to reduce these expenses are within your reach, and this is where Compare the Market proves invaluable. When your policy renewal arrives, take a moment to visit Compare the Market online or utilize their intuitive app to explore a spectrum of insurance options swiftly. The potential savings could amount to hundreds of dollars. Furthermore, a detailed review of your current policy might reveal even greater avenues for economizing.
Experts at Compare the Market suggest these practical tips to potentially lower your premiums. If you have a history of safe driving, opting for a higher excess could be a smart move. While you would incur a greater out-of-pocket expense in the event of a claim, your annual premium will be reduced. With the rise of remote work, if your vehicle is seeing less mileage, investigate whether a low kilometer policy aligns with your driving habits. If your children have reached adulthood and are no longer primary drivers, consider limiting your policy to drivers over 25. This adjustment alone could lead to substantial savings. Another effective strategy is to switch to annual payments instead of monthly or fortnightly installments.
Vehicle insurance providers often apply surcharges to monthly payment plans.
Opting for an annual payment means your insurance is settled for the entire year, often at a lower overall cost.
Moreover, you don’t need to wait until your renewal date to seek better value. You have the flexibility to compare policies and switch providers at any point, irrespective of your current policy’s expiration. Simply verify if any cancellation fees are applicable. So, why delay? Discover if there’s a more cost-effective vehicle insurance policy available to you by comparing options with Compare the Market today.
