Owning a vehicle, in Australia or anywhere in the world, makes it almost mandatory for you to own an insurance policy that covers you against certain liabilities and losses/expenses due to damage. When enquiring for car insurance quotes, you would come across varied items essentially covering the same important aspects. More or less, the quotes would be within a certain range, and would not vary greatly.
Below are listed, the important features of a car insurance policy:
- Coverage for body injury
In case you accidentally ram into another vehicle which results in an injury to another person, the expenses would be covered for including- medical bills, lost wage, and also legal fees if the third party decides to sue you for the action. - Coverage for third party property damage
It would protect you for the expenses incurred as a result of causing damage to the other vehicle. It can cover repair fees for the other vehicle, or property such as fence, exterior walls, etc. - Comprehensive coverage
This coverage is essential for covering your own vehicle against damages caused due to accidental fire, natural calamities, theft, etc. Though, it comes into effect only after paying the deductibles, its importance cannot be undermined since it would pay for the repair of your vehicle after damage.
- Collision coverage
It is an optional coverage that pays to be included in the policy, since it covers for repairs or replacement of the vehicle after it rams into another vehicle or rolls over. Its cover would be a limit that you would need to select in your policy; and it would come into effect upon payment of the deductibles.
The insurance requirements many also vary depending on the state of your residence. You would need to carefully study the various options available from multiple providers in the market, and select the best policy as per your needs.
