Compare Car Insurance Quotes
$1.5 billion is being lost every year in car insurance premiums with Australian drivers paying more than the actual requirement to keep their cars insured. This is mainly due to their hesitance in taking risk and moving to newer and competitive insurance providers in the country and instead sticking on to the same old big names.
According to a study that was conducted by InfoChoice, a leading finance comparison website, Australians need to start looking beyond the old insurance companies and give other insurance agencies a try also. By doing so they would also be able to save more money every year.
Listed below are the findings of the study –
- The South Australians could potentially save millions of dollars by shopping for around for better deals with other insurance providers. Their potential saving could be a whopping 42 per cent in total saving for the state.
- The drivers of New South Wales were paying the highest premium to these 3 big car insurers when as compared to all the other states in the country. The average premium of the drivers was around $1,200 per year thereby making them the highest potential people who could save by moving to other insurers. They could save upto as much as 38 per cent by doing so.
- Tasmanians can also have their potential saving of upto 32 per cent if they were ready to give the new insurers a chance to prove their mettle.
- Next in the line of potential savers were the Victorians who could save upto 32 per cent by making this shift.
- The average premium could be lowered by almost 29 per cent in Western Australia if they are ready to move from their regular insurer to the new competitive insurers.
- The state of Queensland has the potential to save almost 27 per cent or around close to a million by moving to the newer breed of insurance companies.
Time for a change
“Around .5 billion is spent by Australians on car insurance premiums on an annual basis. Most of the people renew their insurance every year without even looking or researching for any better alternatives when you can do so with a few simple clicks online.” he said.
“Customers do not need to wait for their policy renewal dates in order to switch their insurance companies. They would need to pay a small exit fee when cancelling an existing policy and would also receive any unused portion of the paid premium.
Does paying less mean you’re getting less?
“The common perception that people tend to have is that, by paying less you would be compromising on quality. But the truth is not as people believe, the new competitors have scored at par with the big players on the key customer satisfaction indicators that was listed in our survey of over 2000 car insurance policy holders,” Mr Cornelius said.
“We complete believe that people can save on their premiums, and the potential savings are too good to be believed. Mr Cornelius said.
“Reality is that the Budget Direct and real Insurance have received most of the awards in the past few years in a very similar ratio”
Think before you spend
“We have identified some of the best competitive car insurance products that are available in the market and have them included in our website. Inspite of repeated invitations to the big insurance companies, we have been unable to get them to say a yes to joining us. This has come as a surprise to us as there is generally a high degree of transparency in the banking industry. It also makes you ponder as to what is it that the big insurance agencies are trying to hide and don’t want the consumers to know” he said.
“Getting a quote from different insurance providers takes just as much as the same time that it would take to make yourself a cup of coffee. You can compare atleast 8 different insurance brands at the same time.” said Mr Cornelius.
According to the financial comparison website, when as compared with the other product categories, it is much easier to switch car insurance providers.
Wake up Australia
“People around the world are able to save more money these days on their car insurance premiums in comparison to their counterparts in Australia. Almost 65 per cent of the people in the UK are believed to choose their car insurer through a comparison website and ts about time Australians also saved some money using these websites too.”
InfoChoice.com.au has launched a new online car insurance comparison service after getting the results of their survey in order to help people in Australia to save their money.
The website that has been launched today allows visitors to get a fast and accurate comparison of quotes from various insurance underwriters that are located in one area.
To get quick and accurate car insurance comparisons at one location visit, InfoChoice.com.au
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