I have previously with NRMA for my comprehensive car insurance and looking for a change to more economical but client centered car insurance. Any help and advise from the OZ bargain community is welcome.
Car Insurance
ducktor4u on 30/01/2014 - 20:03
Comments
3rd party insurance makes more sense
Third-party property should be compulsory.
The chance of scratching a Bentley or Range Rover is slim. A bigger risk is being liable for someone else's reasonable costs: towing and storage, assessor fees, rental car, repair at their choice of repairer, and any property and infrastructure repairs.
Hitting even a relatively cheap vehicle can be costly, and the safest driver can still find themselves apportioned blame.
We went with Coles comprehensive car insurance - with a $1600 excess - the maximum excess - which brought the premium down to about $250 on a 1992 Camry.
We opted for comprehensive insurance to get protection if we we ever involved in an accident with a luxury vehicle for example.
The prospect of being sued by their insurance company for the value of their vehicle would be too horrible to even consider.
I changed from Youii last year to Budget. Quite a difference in price. But I will still shop around each year.
Coles did offer to beat Budget this year by $100 - but only if renewal was this month. Mine isn't until April.
I always compare like for like policies.
I tried to get quotes from all those names which mentioned in above posts but not much difference, in fact AAMI has an edge on all the above but I am still confused.
Our cars are insured with Bingle (which is owned by AAMI).
My wife crashed last year (her fault) and the whole repair process was quite efficient and the customer service was good. No complaints from me.
I may sound crazy for some but no insurance is more economical for sure. Really - i can't see the point of comprehensive insurance, unless you've got something really expensive / exclusive or your vehicle lives in some really dodgy places. At the end of the day insurance companies work for profit…so they never pay you more than you spend. Just have some backup money in case your car will explode, earn some interest until (if) that happens and that's it. It is also usually too much effort dealing with IC.
3rd party insurance makes more sense if you don't want to loose say your house after scratching a Bentley or RR. It is must have imho if your bank balance is >0$.
However society these days is strongly against the opinion above.