The key factors to consider when choosing car insurance

How will you know which policy to buy? There are various factors to consider when choosing car insurance. Your decision will probably come down to the options you have in mind, the risks you face when you get behind the wheel, and how you can safeguard yourself against them.

There's a lot of information out there about car insurance, what it covers, what excess you will pay and a lot about premiums. Let's bring these topics together and help you get to the bottom of your motor vehicle insurance decision.

How much cover do you need?
Whether you're getting individual or business vehicle insurance, one of the key questions to answer is how many options to include in your policy.

When it comes to claim time, what is important to you?  For some it’s a lower excess, for others it could be the ability to hire a substitute vehicle while theirs is off the road for repairs or perhaps it is not having to pay any excess to have a windscreen repaired or replaced.  The options are many and come down to personal choice.

Another consideration is the level of protection you need for your vehicle.  You can choose between Third Party Property Damage which covers your legal liability if you are involved in a motor vehicle accident and you cause damage to other people’s property, comprehensive market value which covers damage or loss to your vehicle or for some, the peace of mind of agreed value*

Talk to your local Elders representative about what options are available to you.

How high should your policy excess be?
This is an important decision to make when purchasing your new motor vehicle insurance policy, so ask yourself – how much can I afford to pay if I have to make a claim?

There are options available to you such as choosing to opt for a higher excess to reduce your premium or a lower excess if you want to pay less at claim time.  Again, your local Elders representative can help you work through these choices.

Can you keep your premiums manageable?
The third key factor when buying a car insurance policy is the premium you'll have to pay. It is important to have the following information available when talking to your local Elders representative

• Claims history – you must advise us of any claims you or the regular drivers of the vehicle have had in the last 5 years.
• Details of all regular drivers including their age and how long they have been licenced
• Details of where the vehicle is normally garaged
• The use of the vehicle such as private, business or commercial use

There are a lot of options out there, but we strive to offer you the best possible coverage at Elders Insurance. Talk to us today about whatever personal or business property insurance needs you might have - we'll be happy to help.

*agreed value – conditions apply.  Please read the TMD and PDS for full details

_{Elders Insurance (Underwriting Agency) Pty Ltd, (ABN 56 138 879 026, AFSL 340965) (Elders Insurance), acting under its own AFSL, distributes personal insurance products on behalf of QBE Insurance (Australia) Ltd (ABN 78 003 191 035, AFSL 239545), the product issuer. To determine if a product is right for you, please read relevant Policy Wording, by visiting www.eldersinsurance.com.au.}

 _{This article was compiled based on information available to Elders Insurance at the time of publishing. Any general advice in this article has been prepared without taking into account your objectives, financial situation or needs and may not be right for you. You must decide whether or not it is appropriate, in light of your own circumstances, to act on this advice. This does not form part of any insurance policy and is not used in the assessment of insurance claims. Any insurance claim will be assessed against the policy terms and conditions and applicable law.}