It was also determined that drivers aged over 55 are less likely to speed or send text messages on the road. These findings show that senior drivers are safe drivers, and are in an ideal position to make the most of that fact.

Here are 7 ways to help save money on premiums for senior drivers:

1)    Low car usage insurance

Older drivers may find they need to drive less often, as they may not be in the workforce anymore. With this being the case, senior drivers may be able to find car insurance designed for drivers with low annual kilometres, which is one way they can save on premiums.

2)    Senior Card holder’s discount

Many car insurance companies offer Senior Card holders a discount on their car insurance premium. Make the most of this privilege, if you’re eligible, for savings in the long run. Senior drivers may also be also eligible for an insurance discount if they attend a Driver Safety Course; check with the insurer for details.

3)     Clean driving record

Car insurance rates for senior drivers are generally cheaper as they are deemed to be experienced drivers. Thus, they are less of a risk to insure compared to younger drivers. maintaining a clean driving record is important for senior drivers, as this helps to keep your car insurance premium lower.

4)    Car safety features

A low-key car with safety features such as power brakes and steering, as well as perhaps automatic transmission, helps to give a safer driving experience and hence may lower car insurance rates. Moreover, a safety-conscious car requiring less physical effort to drive helps to keep you safe on the road.

5)    Eliminate unnecessary coverage

Another way for seniors to save on car insurance rates is to eliminate insurance coverage that is not needed, such as towing or breakdown coverage, if they are already covered under a separate roadside assistance program.

6)    Increasing the excess

The excess is the out-of-pocket expenses a car insurance policy holder has to take care of before making a claim. By paying an excess of $200 to $500, the premium for comprehensive car insurance may be lowered by 15 percent to 30 percent. In other words, if seniors are comfortable with paying a high excesses if there is a need to make a claim in the future, then they can make savings on car insurance rates in the present.

7)    Compare car insurance quotes

Many seniors simply renew each year with the same car insurer and policy. This may be a mistake, as senior drivers may miss out on a better deal elsewhere if they don’t compare car insurance rates and discounts for senior drivers. The habit of car insurance comparison is well worth the effort as you may make substantial savings in the long run.

Senior drivers should look at ways to help lower their premiums, so that they can save their money for a comfortable retirement lifestyle.  The money saved can be channeled towards other expenses such as health insurance or travel.

Related posts:

1. Young Drivers: How to Reduce Your Insurance Premiums
2. How To Negotiate Lower Car Insurance Premiums
3. How do Car Insurance Premiums Work?

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Car Insurance Requirements in Perth

Drivers in Perth are required to carry Compulsory Third Party insurance, or CTP cover. In Perth, CTP cover is provided by the Insurance Commission of Western Australia (ICWA), and is paid for and issued when you register your vehicle.

CTP cover in Perth insures you against claims of personal or fatal injury caused to others as a result of an accident deemed to be your fault. Anyone driving your vehicle licensed in WA is covered by your CTP cover.

The CTP cover issued in Perth does not cover you for damages to others’ vehicles or property, or for injuries sustained by to the driver or damages to the owner’s vehicle in instances where the owner or owner’s vehicle is at fault.

Limited Required Cover

While the CTP cover issued by ICWA protects you against financial damages due to injuries or fatalities in accidents where you are at fault, that is the limit of CTP cover. You are not covered for damages incurred to your car or others’ cars or property in accidents where you are at fault, nor is your vehicle covered for damages when another driver who is carrying CTP cover only is at fault.

Carrying extended insurance cover above and beyond CTP cover, then, may be sensible depending on your car and your situation. If you think that additional car insurance is a waste of money because your chances of being involved in an accident are low, think again – the ICWA reports that over 13,000 vehicles registered in WA were involved in crashes in 2011 alone. When you consider that almost 75% of WA’s population is concentrated in the Perth metro area, then your chances of being in an accident are even higher if you live in Perth.

Car Insurance Cover for City Life

Living and driving in a busy urban area like Perth comes with challenges that rural dwellers do not face. Crowded city streets are like magnets for cars and crashes. Higher crime rates and street parking in cities mean that car theft and vandalism are common. Failing to purchase car insurance that covers you for city conditions may leave you out of pocket if you are involved in an accident or your car is damaged or stolen.

Comprehensive car insurance cover protects you from many of the costs of unwanted events that may happen to your car. Damages to your vehicle and others’ vehicles and/or property may be covered in the event of an accident, regardless of whom is at fault, you or another driver. Furthermore, your car may be covered for losses or damages due to theft, vandalism, fire and other harm.

If your car is a clunker that hardly seems worth insuring, third party liability car insurance can cover your financial liability in the event that you damage another’s car or property in an accident. Third party liability car insurance is relatively cheap, and can be combined with theft and fire cover for just a little more premium cost.

Driving in a large metropolitan area like Perth comes with challenges that the legally required CTP insurance cover simply may not meet. Talk to your insurer or a car insurance agent about the car insurance cover that’s right for you as a Perth resident.

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3. How much car insurance do I need? Third party or comprehensive?

Buying car insurance is tricky business — while it’s financially risky to carry too little cover, there’s no need to pour money down the drain on cover you do not need. If you’re shopping for car insurance in South Australia, here’s the lowdown on what cover you must have, and what you can add in order to increase your property and liability protection.

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Compulsory Third Party Insurance Cover

Compulsory Third Party Insurance, or CTP cover, is mandatory for all vehicles registered in South Australia. The good news is, this is one insurance policy you don’t have to worry about purchasing yourself — you’re covered as soon as you register your vehicle, because part of your registration fee goes toward payment for CTP cover.

However, don’t assume that just because you’re registered and have CTP cover that your insurance worries are over. CTP cover offers very limited liability cover.  CTP only covers the costs associated with personal injuries sustained by people who are  injured in accidents in which you are at fault, and, in limited cases, it may also cover injuries sustained when  a passenger is at fault.

CTP does not cover injuries sustained by drivers who are at fault, nor does it cover damages to victims’ vehicles or other property. Furthermore, CTP cover in South Australia will not provide full compensation to victims who are partially at fault for their injuries, such as people who are not wearing seat belts.

Expanding Your Insurance Cover

Just because CTP is mandatory does not mean that you should rely on this cover alone — doing so may leave you vulnerable to heavy financial liabilities should you be involved in an accident where you are at fault. Comprehensive and third party property and/or fire and theft policies are available to help residents of South Australia meet their legal and financial obligations if they are at fault in an accident.

Comprehensive car insurance cover will usually cover the cost of damage or loss both of your property and the property of others should you be at fault in a crash. This insurance typically covers your vehicle and other vehicles or property you damage in accident in which you are at fault. Additionally, comprehensive insurance may cover other damage to –or complete loss of– your vehicle, such as damage resulting from fire, natural disaster or vandalism, and theft of your vehicle or parts of your vehicle.

If you’re not worried so much about the cost of repairing or replacing your car as you are about being financially liable for another person’s property in the event of an accident, third party property car insurance cover may be just right for you. Those who drive older or high mileage vehicles may decide that they are not worth the expense of comprehensive cover.

Third party property insurance covers you for the costs of replacing or repairing vehicles or other property damaged in an accident in which you are at fault. Third party property insurance is relatively inexpensive, and for a bit more money, you can also add fire and theft cover for your own car, which will cover your car in the event it is damaged or destroyed by fire, or stolen.

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1. Car Insurance Perth
2. Car Insurance NSW
3. Compulsory Third Party Insurance: Is It All You Need?

Whether you’re a recent Sydney transplant, or to the city born, if you’re a driver, you need car insurance. City driving and parking conditions are ripe for car accidents, so the car insurance cover you choose in Sydney may be more comprehensive than that which you’d carry in more suburban or rural parts of the country. If you’re confused about what type of car insurance is necessary in Sydney, read on.

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Get Your Green Slip

If you’re going to register a car in Sydney, you’re required to carry Compulsory Third Party (CTP) insurance cover, also known as Green Slip cover. CTP provides compensation to crash victims if you are the driver or owner of the car that is at fault for the crash. You must carry Green Slip cover before you can register your car in Sydney.

Compulsory Third Party insurance cover provides coverage for people who are injured in an crash in which you or someone else driving your car is at fault.  CTP insurance does not cover damage to property or vehicles. In the event that you damage property in an accident in which you are at fault, you are liable for the costs of repair or replacement.

City Driving Conditions

If you’re tempted to get your Green Slip cover and leave it at that, there are some points you may wish to consider. Driving — and parking — in the city leaves you vulnerable to a higher statistical probability of car accidents that can be financially burdensome.

Driving and parking in crowded city conditions increases the chances that you will be in an accident. It makes sense — more cars (and more pedestrians, buses, cyclists and other road users) plus heavily used street surfaces equals a higher risk of collision. If you carry third party property or comprehensive cover, you’re giving yourself a financial crutch in case of an expensive settlement.

In the event that you damage another person’s vehicle or property in an accident in which you are at fault, if you’re only carrying Green Slip cover, you’re personally responsible for any property damage you cause while behind the wheel.  Carrying third party property cover or comprehensive car insurance may make sense in city driving environments like Sydney.

City Parking Conditions

Living in the city often means parking your car in public lots or on the street, sometimes out of your sight for hours or days. These types of parking situations may be targeted by vandals and thieves, who know that they’ll be long gone long before you realize that your car has been stolen or damaged. And don’t forget there may be hit-and-run drivers in any city; when there’s no one around to witness it, some drivers may just drive away from a minor collision with a parked car rather than face the hassle of tracking down the owner and filing an insurance claim.

Unless you’re willing to shell out for car replacement or car repairs from your own pocket, you may want to consider a higher level of cover than CTP car insurance if you live or drive in Sydney. Comprehensive cover offers the widest range of protection, covering damage done to your car from many sources, including collision, theft, vandalism, or natural disaster.

If you’re considering a move to Sydney, or are a long-time resident planning your next car insurance comparison, take into consideration the challenges that you may face as a driver in a city setting, and seek out insurance cover that will protect you and your car adequately.

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Almost anything is easier and more fun than buying car insurance, but don’t make the mistake of making car insurance even more difficult to buy by not knowing what’s required for where you live.  Here’s what you need to know for purchasing car insurance in New South Wales.

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Green Slips are Required by Law

Drivers in New South Wales are required to carry Compulsory Third Party (CTP) insurance, known in NSW as Green Slip insurance.  There’s no way around it — you must have Green Slip insurance before you can register your car in NSW.

Compulsory Third Party insurance cover provides coverage and compensation for other people who are injured in an accident in which you or another person driving your car is at fault. In some (very limited) circumstances, CTP may give cover regardless of who was at fault.

CTP insurance covers injuries to passengers in your car, other drivers, their passengers, pedestrians, cyclists, motorcyclists and pillion passengers, injuries caused through the use of a trailer, and any children injured in a crash, regardless of who was responsible. However, Compulsory Third Party insurance does not cover damage to your property or others’ property or vehicles.

Getting Your Green Slip

You must obtain your CTP insurance coverage from one of seven insurers licensed to provide Green Slips in New South Wales. These insurers are:

• AAMI
• Allianz
• CIC Allianz
• GIO
• NRMA
• QBE
• Zurich
  

Shop around; while all these insurers offer CTP insurance, there is no standard cost for green slip cover.  The price you pay will depend upon factors that include your age, driving record, and the car you are insuring, so check with several, or with all insurers to make sure you’re getting the best rate possible.

Is Green Slip Enough?

Although CTP insurance cover alone will satisfy the requirements to register your car in New South Wales, strongly consider whether this is all the insurance that you need. Green Slip alone will not cover damage done to your car or to damage incurred to other vehicles or property when you are at fault in an accident. Paying for these damages out of your own pocket can be expensive.

Third party property cover will protect others’ property in the event that you cause damage to it as the result of an accident, but will not cover damage done to your own car. This insurance is therefore typically less suitable for motorists whose cars are of high replacement value, or expensive to repair.

Comprehensive car insurance usually covers both your car and others’ property. The amount that your car and property is covered for depends on what you select, so choose the car insurance cover amount carefully and consider whether it will pay to replace your car in the event it is a total loss due to an accident.

Third party fire and theft and uninsured motorist cover are also offered on a limited basis in NSW; check with insurers for details.

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3. Car Insurance SA

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Typical Features of the Extended Warranty

An extended car warranty is a service that you buy in order to get certain vehicle repair and maintenance services free or at a reduced price for a set period of time. One problem with extended warranties is that they are quite varied in the services they provide.  Thus, if you take the first one you’re offered at the car dealership, you might not have the opportunity to thoroughly compare your options.

For instance, some extended warranty service agreements may cover only the transmission and engine, and some may only cover a portion of the service costs, leaving you to pay the rest.

Aside from the differences in the warranties themselves, there is also the matter of who provides the extended car warranty.  You may obtain an extended warranty from your car manufacturer, car dealership, or other competing providers.  There are many third party companies that offer these extended warranties.

Extended Warranty When You Buy a New Car

It might sound like a good deal at face value, and you might already know whether you want an extended warranty or not.  However, even if you do, it is not always wise to sign up for an extended warranty at the time you purchase a new car.

Take a look at the interest rate in which your car is being financed.  Will you be paying interest on the total cost of the new car?  If so, that means that you may be charged interest on the extended warranty you bought along with the car itself; check with your potential warranty service provider to find out whether that’s the case.

Take Your Time

Don’t rush to get an extended warranty.  You may find a better deal for your needs if you take plenty of time to check out your options. And don’t fall for the common sales trick of telling customers, “We can only offer the extended warranty at the time of purchase.” It isn’t necessarily true, and even if it is, there are other options available to most car buyers.

If you’re happy with the standard warranty on your new car and don’t want any optional extras with it, then you don’t necessarily need to buy an extended warranty until closer to the date when your standard warranty will expire.  Thus, you can delay comparing warranties until the time is nearby – which may be up to several years from the day you bought your car.

If you want an extended warranty from the day you buy your new car, then take the time to compare your warranty options before you go to buy the vehicle. You may find more suitable or more cost-effective options than that offered at the car dealership.

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Technology can be your friend here, especially if you cringe at the thought of having to sort through filing cabinets and folders to find your car insurance (along with every other vital piece of documentation in your life!).  Indeed, you can give yourself security as well as more space with some digital options for document storage.

Get the Policy/Documents in Digital Format

To store something on a computer, electronic device, or server network, you’ll first need to have a copy of it in digital format.  Thus, this provides us with the first step.

Your documentation may already be available as a digital copy.  When you purchased your policy, you might have received a copy of it by email, in a common digital file format such as a PDF file.  If this is the case, or if your insurer offers a digital copy that can be downloaded from their website (call them and ask if you can’t find it online), you are already well prepared.

The rest of us will have to take the manual approach.  This will involve using a scanner to make digital copies of the paper documents that you receive from your car insurer.  If you don’t have a scanner, you may be able to borrow one; if not, compare the price of scanning your documents at a public library or a print shop against the cost of buying an inexpensive scanner for future use with other documents too.

Once you have your digitised documents, you will be able to store them in your digital location of choice; and there are plenty of these to choose from.

Storing Documents on Your Computer

With all your car insurance documentation in electronic form, you can put it all together into a single digital folder for easy reference.  You’ll be able to look back over your policy if you have any questions or need clarification. If you continue to add any new documentation and important letters from your car insurer to this digital folder, it will provide a complete archive of your history as a car insurance policyholder.

Many users will simply store the documents on their computer.  For instance, you could store your “Car Insurance Information” folder in your “My Documents” folder on your PC (apologies if you’re a Mac user, but you know what I’m getting at).  Isn’t that simple?

Of course, no matter which method you choose, it’s sensible to keep at least one back-up copy of the vital car insurance files.  Your computer could fail; if you burn the important information onto a CD or DVD, you could lose it or damage it (while they’re stronger than paper, those disks are still fragile!).  Consider storing them in a secure place online where you can easily access and download them, or keep multiple copies in a few different locations (for example your computer, a DVD, and a secure USB drive) just in case one fails .

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Want More High-Tech Convenience?

While this article isn’t an exhaustive list of all the possibilities, there are a couple of simple electronic ways to store your car insurance documents explained above. If you’re a bit of a gadget geek, you may already have those covered, but there are high-tech ways to gain even more convenient access to your digital files.

Many people use a secure website to back up all important files.  We won’t name any companies here, but searching for “online backup” or “cloud backup” will give you a starting point. You could simply include your car insurance documentation with your other vital files in an online data backup service like this – all very convenient, and as secure as you choose to make it.

For mobile internet users, such as those with a smartphone or tablet, there is another possibility.  You could store your information in a secure mobile app that will synchronise itself with a cloud server.  There are several high quality apps available that can do this, and you could store your car insurance information as documents or images here; just be sure to apply the appropriate privacy settings to those files!

Please note that if you decide on any of these options, it is still a good idea to keep the actual paper documents somewhere; however, once you’ve taken your digital copies you can archive the originals away without needing to get them out again.

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Nobody can argue that saving money on food, clothing and utility costs isn’t smart, but when you compare car insurance quotes, keep in mind that the cheapest policy is not necessarily the best choice.

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The Bare Essentials

You’re required by law to carry compulsory third party (CTP) or green slip insurance. When you need to save money, it’s easy to tell yourself that there’s no sense in paying for extra cover such as theft and fire or comprehensive cover if all you’re legally liable for is CTP cover.  The limited scope of a CTP policy, which only pays for injuries to other people in the event of an accident, makes it the cheapest car insurance cover available for purchase.

The problem is, you may end up financially strapped in the event of an accident, fire or theft that damages your vehicle. Any money you may have saved will be spent replacing your car and paying for any injuries you may have received, not to mention any ongoing health problems that you may have as a result. A CTP car insurance policy won’t pay for your injuries or your property.

Are Fire and Theft Cover Enough?

Just adding fire and theft cover to your CTP policy will increase your cover without increasing your expense astronomically. However, opting to add just fire and theft cover will still leave you with some large cover exclusions. Fire and theft are legitimate risks to your automobile, but an accident or other collision is a larger financial risk, as accidents often result in higher costs, especially if you are injured.

The cheaper car insurance quotes you receive when comparing fire and theft cover to comprehensive cover may seem like a good deal, but in truth are only a good deal as long as you have enough money to pay for any damage to your car that is not related to fire or theft.

Cheap Comprehensive Cover

Even if you decide you want comprehensive cover, you may be tempted to economize by taking a cut-rate policy. When you look into how some of these cheap policies work, they may be less of a deal than they seem at first glance. Car insurers can offer cheap comprehensive policies by putting more of the costs associated with accidents or other damage to your car back on you, in the form of high excess rates or limited cover.

Read the fine print before you’re tempted to purchase a comprehensive car insurance policy at a rock-bottom price. You may find that there’s a high excess in the event that you need to make a claim, or that the policy leaves out accessories or modifications you may have added to your car.

The best car insurance policy for you is the best one you can reasonably afford. A cheap policy is only more affordable if you can afford to pay for repairing or replacing your car in the event that your cheap policy doesn’t cover it.

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Is Your Battery Covered?

“Comprehensive car insurance” can be a phrase that misleads people into thinking their policy will cover literally everything.  If there is no explicit mention of cover for battery-related car problems on your policy, then you probably don’t have it.  Call your insurer to check, but your car battery and related problems may not be covered.

When something’s wrong with your car’s power supply, your first thought might be to take the car to the dealership or their local mechanic for repairs.  If the repairs are necessary due to a problem covered by your car insurance, then great – the car insurance company will help you to pay the costs.  However, if it is only the car’s battery that’s faulty, you may end up having to pay the whole bill yourself.

Beware also of calling out a roadside assistance service or towing service over a battery problem, even if you have a membership with the service as a part of your comprehensive car insurance package.

Although you may normally be covered by your insurance for these services, if your “breakdown” is caused by a dead battery then you may find this is excluded from your membership benefits; you may then have to pay the call-out fees for the service yourself.  Additional fees for items such as diagnostic tests may also be incurred when you have battery trouble, unless you know how to diagnose and fix the problems yourself.

Do It Yourself

If your car won’t start, check the battery and try to jump start it if necessary.  If you have the correct cables, and another car (perhaps courtesy of a kind fellow motorist) from which you can start your engine, then you are ready to go.  Otherwise, you might need to call a friend or family member for some assistance.

Don’t attempt to jump start a car if nobody present knows how this is done correctly; you are dealing with electricity, and accidents may happen. Try to call someone who can tow your car, preferably a friend or relative who will do it for free. Taking it to a car parts store may be a good idea.  Many will test your battery for free, and they may also offer free installation with your new battery if you purchase the replacement part from them.

You should also be aware of some tips that can extend the life of your car battery:

• Check your battery’s cables and terminals to ensure they are snug.
• Use a soft wire brush to clear the connections of dirt.  Disconnect the battery before you do this.  Corroded connections can shorten the life of your battery.
• Check the battery’s charging system at least once a year, and perhaps more depending on the current age of the battery.

By taking note of these tips, hopefully you will be able to save a little money, a bit of time, and the headache of unnecessary battery-related breakdowns.

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Be Cautious About the Lowest Offer

“You get what you pay for.” Remember this when you are comparing extended car warranties.  Just like when you compare car insurance policies, beware of a quote that is significantly lower than the average, as there may be good reason why it is cheaper – from poor customer service availability or limited networks of participating mechanics, to a variety of other reasons.

It may also happen that a company that offers extended car warranties goes out of business.  Thus, if you haven’t previously heard of the company that is offering the least expensive extended car warranty, you might want exercise caution for this reason too.  Yo might try talking to your dealer or local mechanic to see who they recommend.

One of the most common issues with car warranties is learning that a certain item isn’t covered, when you want it covered. Ensure that you read everything through carefully, and get clarification of any ambiguous language in the warranty documentation, to avoid any surprises.

What Type of Car Warranty?

You’ll normally find two types of car warranty agreements: “mechanical breakdown” and “wear and tear”.

• Mechanical breakdown warranties normally cover serious matters, such as problems with your engine or transmission.  However, as most repairs are due to wear and tear, some less reputable companies may classify a repair as wear and tear and then deny a claim on a mechanical breakdown warranty.
• Wear and tear warranties are similar to the basic warranty you might be offered on a new car – they cover car repairs needed due to wear from regular use over time, and apply to more of your car’s components than a mechanical breakdown warranty.

To get maximum value from your extended warranty, you may want to look at warranties that offer both mechanical breakdown and wear and tear protection.  That doesn’t mean that you’ll be covered for everything; but it gives you a solid starting point for comparing warranties to one another.

Compare Car Warranties

Whatever type of extended warranty you decide upon, you should then start looking deep into the terms of each option. See exactly what is and isn’t covered.  Look out for ambiguous or unclear language, and don’t be afraid to check any queries with the warranty provider or with a professional who understands the industry.

Here are some questions to consider:

• Can you get repairs done at any dealer/mechanic, or only at certain specified locations?
• Do you have to pay any costs that won’t be reimbursed later?
• Are the most common repairs, from the transmission to new brakes, all adequately covered?
• Have you asked your mechanic, car dealership, a legal professional or insurance professional –essentially, someone with relevant experience– for their thoughts about the warranty and company you’re considering?

Just like you would with comparing car insurance policies, take the time to compare extended car warranties before buying.  Don’t make any hasty assumptions or go with a company of whose reputation you’re uncertain.  Research the warranty and the provider, and find out everything you can before spending your money.

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