Car insurance premiums are the costs of your car insurance policy. They are an annual liability that can often be paid in lump sum or in installments. Your base premium is calculated using a range of risk factors, then added to this are government fees, charges and the costs of any additional benefits you purchase.
Insurance Risk Factors
Risk factors are used by insurance companies to measure potential claims to be made on your policy. Factors range from and are not limited to age, gender, car use, address and past claims of the driver.
Some people think that because you cannot change factors such as your age or where you live that the cost of your car insurance cannot be reduced. Others think you can’t possibly benefit from shopping around because insurers all ask the same questions. What people forget is that some things that make a person riskier to insure can be changed. Furthermore insurers each have different methods of pricing so despite asking the same questions you can still be given different quotes.
Compare and Save
Product variety and increasing competition makes comparison shopping an extremely useful and effective money saving tool. when you compare car insurance you will get a better understanding of the true of your policy and from there crossing out the numbers will be an educated elimination process.
Amongst the many ways to reduce your car insurance premium is understanding what your coverage needs are. If you have coverage you don’t need then why pay for them? Have a close read of your PDS and decide whether you really need all those optional extras.
Infochoice is now offering a comprehensive car insurance comparison service that will allow you to save time and money. Spend just two minutes now to get multiple quotes from different insurance providers all at once. Compare car insurance today and discover how much money can you save?
Review online quote estimates from participating providers (though not all may be listed for every quote):
Budget Direct, Virgin Money, Ozicare, 1stforWomen, ibuyeco, Cashback, Retirease and AI Insurance.
Disclaimer
Nothing in this car insurance comparison service should be taken as constituting personal advice. It has been prepared without taking account of your objectives, financial situation or needs. Before you buy a car insurance policy you should consider whether it is right for you. Whilst policy features are listed here, it is only a summary and does not describe all policy details. Be sure to read the insurer's Financial Services Guide and Product Disclosure Statement before deciding to buy. Quotes are estimates of premiums of our participating providers. As with all insurance premiums, these are subject to underwriting and may change. See InfoChoice's Financial Service Guide. InfoChoice Ltd ABN 93 061 105 735 AFSL No. 349445