It is always advisable to compare insurance policy features before you sign for any policy cover for your car. Though it is compulsory to take insurance cover at the time of purchasing the car, there are certain attractive features that can be availed by taking additional insurance cover. The features and the premium amount depends upon the insurance companies, thus it should be compared and then taken a decision to buy the best policy that suits you.
What are the different types of Insurance cover that can be taken for your car?
Usually people think that car insurance is a mandatory and compulsory expense that has to be incurred at the time of purchasing a car. But you should know that car insurance is a wide concept and covers various risks that you should be aware of. Some of them are as follows:
- Replacement and Repair Cover
This covers the cost of any repair or replacement of auto part necessitated due to an accident or any damage caused by reckless driving. It also covers the repair cost of any damage caused by the fault of other people. This cover is also known as “Comprehensive Car Cover”.
- TP Cover
This includes Third Party Cover for the loss due to theft, fire or if any property is damaged by your car. For instance if you are parking your car, and by mistake you dent any other car or damage neighbor’s fence, then the expenses incurred shall be covered by your insurance policy.
Compulsory Third party insurance which is popularly known as “ green slip” cover indemnifies those drivers who are involved in any accident and have caused injury to a third person.
This cover includes certain additional cover options like replacement of car, protection of no claim bonus, selection of jurisdiction, selection of repair body shop, time period of repair etc.
Is there any difference between Agreed Value and Market Value?
When you face a situation of your car being written off, then you should understand that there is a difference between market value and the agreed value. On one hand market value refers to the value of your car at the time of claim and on the other hand the agreed value refers to the value of your car which is mutually agreed by you and your insurance company.
Which is the most reliable and affordable Car Insurance Comparison Service In Australia?
If you are struggling to find which is the most affordable or reliable car insurance service in Australia, then you must compare insurance services. iSelect is one of the best places for car insurance comparison. The entire team is expert and experienced and conducts regular check and research on the different insurance companies that float car insurance policies.
The services are affordable and focus on customization as per your needs. Once you discuss your requirements with their representatives, you will get best comparison results. You just need to log on to their website and get full details.