Qld car insurance premiums reviewed | Northern Rivers Insurance | Insurance News for Northern Rivers, Australia

8th October 2009

QUEENSLANDERS are finding there are simple things they can do to reach a balance between the types of car insurance cover they need, and the amount of money they wish to pay in premiums.

You might think insuring you car can be confusing (given it’s something you don’t do every day), but it doesn’t need to be. And there are some simple things you can do to help make sure you reach a balance between the types of cover that you feel you need, and the amount of money you want to pay in premium.

First – decide the type of cover you want. Suncorp offers three types of car insurance cover:

•    Comprehensive - cover for loss or damage to your own car for a wide range of events (collision, theft, storm, fire), as well as damage you might do to someone else’s property;

•    Fire, Theft and Third Party Property Damage - cover for loss or damage to your own car for fire and theft events only, as well as damage you might do to someone else’s property; and

•    Third Party Property Damage only – no cover for damage to your own car (except in rare circumstances), but it does cover you for damage you might do to someone else’s property.

Second - make sure you give full and truthful answers to the questions your insurance company asks you. This includes full details about your car (including any modifications and non-standard accessories), and all drivers of the car (including any driver’s licence or claims history).

All this information helps the insurer assess the risk; determine if it is a risk that they can insure and make sure the premium is accurately calculated.

Jason McCracken, Executive General Manager Suncorp Personal Insurance, said that as a customer, you can always inquire about ways to either:

•    increase your cover (by adding on policy options such as ‘hire car after an event’, removing the excess for windscreen claims, or insuring you car for an ‘agreed value’), or
•    Reduce your cover (by increasing your basic excess, or restricting cover to only certain drivers).

Remember that increasing the amount of cover you want will increase the premium, and reducing your cover will reduce your premium,” he said.

Jason reiterated the importance of reading the Product Disclosure Statement each customer is given.

“The PDS specifies exactly what is covered, and what is not covered. You must understand that your insurance will not pay to repair or replace your car in all circumstances, so make sure you check what the policy limits are.

“Finally, you will be given multiple ways of paying your premium (credit card, BPAY, annual direct debit, monthly direct debit) – check if different payment options come with any additional or reduced premium,” Jason said.

Other additional factors to consider when it comes to insuring with Suncorp:

•    if your son or daughter insures their car with us, we may be able to provide them with the same Suncorp No Claim Discount as you through our ‘Family Discount’ scheme;
•    the more policies you have with Suncorp, the more discounts you may be entitled to; and
•    Suncorp has a network of recommended repairs that can help take the hassle out of car insurance repairs; or you can choose your own repairer.

For more information call Suncorp on 13 11 55 or go to www.suncorp.com.au/musthave

Motor Vehicle insurance is issued by Suncorp Metway Insurance Ltd. ABN 83 075 695 966. Please read the relevant Product Disclosure Statement before you make any decisions regarding any of these products. Contact us for a copy.

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