The holidays can be an expensive time of year. Costs can quickly start to add up – spending on presents, food and drinks, and entertainment can become a financial burden. But taking some time to check the details of your car insurance now could save you money in the long run, and free up some funds for those unexpected expenses.
Put that extra holiday free time to good use
The end of year holidays means there’s a lot more drivers on the roads – holiday makers, caravaners, shoppers and day trippers. And given no one will be travelling overseas this year, you can expect these numbers to be especially high.
People are also driving longer distances on unfamiliar roads. Consequently, stress levels are high, and the rate of accidents tend to increase during the holiday period.
To counter the increased risk, now is a good time to check your policy is up to date. This is because wrong or outdated information could make your policy void in the event of a claim. So be sure to notify your insurer of any changes, such as vehicle modifications or a change of address. That way, if an unfortunate turn of events does lead to an accident, you’ll be adequately covered.
Do you know what you’re paying for?
Every year, thousands of Aussie drivers could end up spending too much on their insurance because they haven’t taken the time review their policy and adjust it to their current situation, simply because they’re creatures of habit.
There are plenty of ways to save on your car insurance, so use the holiday downtime to check you’re not paying a ‘premium’ on your monthly premiums.
Maybe you now drive significantly less kilometres than you did when you first took out your car insurance policy. Or you now have secure off-road parking for your vehicle but have not had the policy adjusted to reflect this change. Perhaps you have just forgotten to remove that ‘named’ driver who no longer uses your car. Simple updates such as these can make significant differences to your premiums. So, if you are going to be driving on the roads these holidays, take a closer look at your policy’s fine print and check it out against other options.
Claim your no claim bonus
Over half of all Aussie drivers reported that they have not made a claim in the last ten years.
A no claim history is something to be proud of, so why not receive a reward for your years of excellent driving? Make sure you secure your no-claim bonus if you have a comprehensive car insurance policy with CGU.
Insure against the uninsured
There are many uninsured drivers on Australian roads. If you have the misfortune of crossing paths with one of them, it’s your insurance that is going to be taking the hit.
Check your policy to ensure all your details are correct and that you’ve got the right level of cover. That way, you might not just end up with a happy holiday, but a prosperous New Year too.
Standard underwriting criteria and policy terms and conditions apply. Insurance issued by Insurance Australia Limited ABN 11 000 016 722, AFSL 227681 trading as CGU Insurance (CGU). In arranging this insurance, Victoria Teachers Limited ABN 44 087 651 769 AFSL 240960 trading as Bank First (Bank First), acts under its own AFSL and under an agreement with CGU, not as your agent. Bank First receives commission when selling CGU insurance products. Please refer to Bank First’s Financial Services Guide (FSG) for details of these commissions. Any advice is general only. This information does not take into consideration your objectives, financial situation or needs. Therefore, you should firstly consider the appropriateness of this information and refer to the relevant Product Disclosure Statement (PDS) before acquiring a product, available by calling 1300 654 166, visiting a branch or by visiting Bank First’s website