If you don’t have insurance or are overpaying for your existing plan, it can be a real drag. Of course, having insurance is better than not having any coverage at all if an accident comes your way; however, many people wind up overpaying for unexpected expenses in emergencies even when they do have coverage because their insurance plan doesn’t meet their needs the way that they thought it did. Clearly, this can be a problem, especially if you’ve just totaled your car or your home has sustained damage that needs fixing as soon as possible.
It’s also worth noting that in some countries, you may incur Medicare levy surcharges based on whether or not you have private health insurance or if you’re only planning on using Medicare. While avoiding a Medicare levy surcharge shouldn’t be the only reason that you evaluate your insurance company, it’s definitely one benefit of doing some more research since nobody wants to get stuck paying extra surcharges when they don’t have to. Read on for some tips and tricks to keep in mind when you’re working to find a better deal on your car insurance, homeowner’s insurance, or health insurance.
The internet is one of the most powerful tools in existence, but people often use it to play Angry Birds or scroll through social media. The internet has a lot more use beyond socializing and entertaining; as an educational tool, it particularly excels. Just heading to your favorite search engine and typing in “car insurance NSW” or “private health insurers Victoria” can help you find different auto insurers or private insurance companies in your area who can offer you coverage.
As you use online comparison tools to investigate different insurance options, make sure to pay attention to more than just your monthly payment amounts. While price is one aspect of insurance coverage to consider, it’s just as important to know how much is covered in the case of vandalism or a car accident and whether or not your deduction and premium are competitive. This sort of research can also help you better determine whether or not you may have a premium increase in the event of a claim, which could mean that an initially lower insurance premium isn’t quite as competitive as you originally thought.
Once you’ve used the internet to narrow down your options, it’s time to get on the phone. Speaking with different insurance companies can help you see if their rates are really as advertised or if they have promotions or deals that can lower your costs. For example, if you’re a young driver, auto insurers may wind up charging you a higher price than older adults. That being said, some auto insurers offer discounts for younger drivers based on a lack of accidents or even good grades in school. These are all questions to ask auto insurers as you look for a new policy.
Another avenue to consider as you’re gathering research is to talk to friends and family members about their policies. Australians in your area will obviously have different insights than a New Zealand resident posting on the internet, so it’s worth talking to others to see who has a policy they like and who can’t stand their insurance provider. You can also get a better idea from friends about whether or not comprehensive insurance was necessary or if they’ve ever used additional add-ons like roadside assistance. Getting input from others is a key part of evaluating your options, so be sure to make some calls and send some texts before picking a new policy.