New car owners in NSW already know that the mandatory CTP (Compulsory Third Party) insurance is one they purchase at the time of vehicle registration. It is a legal requirement in all territories and states and helps them during road accidents where the third party (passengers, other drivers, pedestrians, cyclists) is affected (wounded/fatality). The CTP insurance allows vehicle owners to deal with the medical financial impact of these injuries when they are at fault. tinyzonetv
The CTP insurance doesn’t cover damage done to a property, others’ vehicles, or your vehicle and its contents involved in the accident. It is precisely why you, as a car owner, must think about purchasing additional car insurance in NSW to protect your savings account. Most insurance providers offer different levels of cover so you can choose according to your vehicle usage and personal circumstances. A quick search on the internet will reveal the various plans available with popular insurance companies.
The basic one is the third party property plan that covers any third-party vehicle or property damage and the legal liability for such damage. The next best one is the third party fire and theft plan covering everything mentioned above, including damage to your car due to fire/theft accidents. The ultimate plan is a comprehensive car insurance plan. It is an umbrella of cover for all of the above plus damage due to weather events like hail, storm, floods, etc., and offers car replacement (if stolen or written off). Inquire with the insurer to know when the offerings are applicable.
If you have any excuses like – No, I am a safe driver, my old car isn’t worth additional insurance, or buying another will burn a hole in my pocket, we will tell you why you need that extra cover.
Let’s agree that you are a safe driver, for now. Can you be sure that other motorists or drivers sharing the road will drive with care and caution? Honestly, the driving and circumstances on the road are entirely unpredictable. There are times when vehicle owners end up shelling out a good chunk of their hard-earned money for vehicle repairs due to an accident that they didn’t even cause in the first place.
Your old car may not fetch you bling if you sell it. Still, additional cover comes to the rescue if you accidentally bump into a brand-new Mercedes in the traffic/parking lot. Do you need to tax yourself like this? We don’t think it’s worth it. anonig
What if your vehicle suffers a bad ding, windscreen break, or needs other emergency repairs after an accident? You will be stuck with your broken car for days or weeks if you can’t gather enough money to get them fixed. It can be worse in case of fire accidents or theft.
So, you can understand how not buying a car insurance policy may save you a few dollars in a short while, but its implications on your savings can be adverse in the long term. The worth of insurance comes into light when you need it the most.
Consider your budget, needs, and wants before signing up for a policy online. Insurance providers may have discounts and optional extras that you can avail too. Check if you are eligible for any of the deals on the offering. With comprehensive car insurance, you are at least risk. Buy car insurance NSW and stay safe, we say!
