Switching over to the right car insurance policy is vital for getting the best possible protection on the road. Plus, if you get the right insurer, you could potentially save thousands of dollars on premiums.
But for many people, changing car insurers is a daunting prospect. Nobody wants to grapple with baffling jargon, or comb through countless pages of fine print on a contract. That's where we can help.
With a little guidance, changing your car insurance policy can be surprisingly simple. Whether you're at the end of your old policy, or if you're thinking about changing car insurance mid policy, we'll get you on the road to a better deal.
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How do you switch car insurance policies?
Changing car insurance policies is pretty straightforward. All you have to do is cancel one policy and start another. Still, there are a few pitfalls you should be careful to avoid:
Confirm your cancellation
If you don't notify your current insurer that you want to cancel your existing policy, they'll automatically renew your contract. The best way to cancel your policy is by doing it in writing. With email receipts you'll have proof of your decision, in case something goes wrong.
Timing is everything
One of the trickiest things about switching car insurance policies is getting the timing right. You don't want to leave a gap between policies during which your car is uninsured. Stay on the safe side, and don't cancel your old policy until you've got a new one lined up.
Not all car insurers are equal, and not all of their policies guarantee the same level of protection. Before you switch car insurance, shop around and find out what your options are.
What are the different kinds of car insurance?
The default level of car insurance is called 'Compulsory Third Party' and, as the name suggests, it is a compulsory part of registering a vehicle. However, it doesn't actually insure your car—it only protects other people. If you want your car to be covered in case of a crash, theft, or a fire, you'll need to change car insurance policies.
Other policies, like third party property, fire and theft, and comprehensive car insurance, provide better coverage at a higher price. Don't be fooled, though; just because an insurer charges more money doesn't necessarily mean they have a better product.
Are you getting a good deal?
There are many different factors that affect your car insurance premiums: things like where you live, where you drive the car, and who the drivers are. For example, if your accident-prone teenager has moved out and won't be driving your car anymore, you may qualify for a lower premium.
Even if your circumstances haven't changed at all, and even if you want to keep the exact same kind of policy, there's a good chance that you could save money by switching insurers. Insurance is a competitive industry, where companies are constantly revising their rates and coming up with new offers. If it's been a while since you made a change, hunt for a better offer elsewhere.
When can you switch policies?
There's a common misconception that you should only get a new insurance policy when your old one is close to expiring. In reality, you can switch your car insurance policy at any time. Even if you have an open insurance claim with one provider, there's no penalty for moving to a new insurer or a different type of policy. You'll get paid out just the same.
Additionally, be aware that some insurance companies have cancellation fees. Check with your existing provider, and make sure to factor that into your calculations.
Make sure your new insurer doesn't skimp on repairs
Some insurers insist on controlling who does the repairs on your car. Sure, that's great for the car insurer—they can save themselves money by contracting a mechanic who uses cheap parts and does low-quality work—but it could spell trouble for you.
That's why you should ensure you have get preferred choice of repairer on your new car insurance policy. Repairers like Sheen Panel Service perform quality repairs with genuine parts and paints. Plus, unlike many insurer preferred repairers, Sheen Panel Service gives you the choice of a replacement vehicle if you've had an accident.
Contact Sheen Panel Service
Get top-notch repairs to match your fantastic new insurance policy. Sheen Panel Service have 26 locations across Melbourne, and our workmanship comes with a lifetime guarantee. Contact us online.