Note: Check your country for specifics
As a woman buying car insurance, you may find that many companies offer you policies for less than your male counterparts would be charged. It has been shown that women are much better drivers than men, and men seem to get into more serious wrecks when they are behind the wheel.
Maybe it’s because of the need for speed that most men have, or possibly the road rage that courses through their veins. This little fact does not affect you too much, but some other things may significantly impact you and the policy you purchase. Let’s jump in and learn all the important aspects of car insurance you need to know.
- Know What You Need – To start with, you need to know what type of coverage you will require. There are four main types that you will need to know about, with three of them being an option. The primary type of insurance is required by law and in most areas will be charged to you when you renew or register your vehicle tags.
- Compulsory Third-Party (CTP) Insurance – This is also known as green slip insurance. This legal requirement in all states covers medical injuries or death to any third party involved in the accident. This means that if you cause any harm to someone else, they will be covered for any medical issues that may arise because of the accident.
- Third-Party Property Insurance – This policy can be added to the CTP insurance that will cover any damage to the third-parties property, such as their vehicle.
- Third-Party Property, Fire, And Theft Insurance – This is an upgraded policy to the one directly above that can be added on instead. It will cover any damage to third-party property, plus any damage to your car due to fire or theft.
- Comprehensive Insurance – This is the best that you can get. It will cover damage to third-party property, your property, and damage to your vehicle in cases of fire and theft. It can also protect you against acts of nature or civil unrest.
- Compare Insurance Carriers – Go online and find a comparison platform, such as the iSelect car insurance site and let them do most of the work for you. The AI-driven platform will take some simple information from you and then send you offers from some of their partner sites that may be willing to work with you. All you need to do is compare them and choose the one that seems best for you.
- Excess Amounts – This is also known as the deductible. It is the amount of cash that you will be required to pay out of your pocket if you ever file a claim. The higher this amount is set, the lower your premiums will be, making it the easiest way to get your costs down. However, remember that the higher this amount is, the more you will have to come up with if anything happens.
You need to know these basic things as a woman purchasing car insurance. It is not as complicated as it may sound, but it does take a little effort on your part to ensure that the coverage you have is the one that is perfect for your specific circumstances.
Before you ever decide on the insurance carrier to go through, you must read the entire offer or contract that the company suggests. It may be the most affordable, but that may be because the coverage is not the best. Always match your policy to your needs, remove extra additions you do not want, add what you do want, and then choose based on the cost.