Car Insurance
With all of the information out there it can be confusing when you try to figure out insurance, what types of insurances are there, what one do you need and what is required by law. Here we are going to cover car insurance, caravan insurance, boat insurance and truck insurance.
Car Insurance
Car insurance protects the person that is insured against the losses involving the use of a vehicle. There are a variety of different types of car insurance ranging from 3rd party liability, fire, comprehensive, theft, property damage as well as the physical damage of collision. Why do you need car insurance, the answer is simple. Car insurance will:
- Financially protect you from lawsuits
- Protect your investment (car)
- Pay medical expenses should you get in an accident
- Cover losses that are caused by underinsured and the uninsured
- Cover the cost of damage caused by vandalism, theft and natural disaster
- Give you peace of mind while you are on the road
There are a few things to keep in mind, such as not all coverage offers the same protection. When you are considering the different types of insurance you can buy it is important that you think about your particular situation. There is a coverage that is ideal for you, that will fit your needs and your budget. In most cases it is comprehensive car insurance that is recommended.
- Along with determining the right car insurance policy for you, it may help to know what factors influence your premium. The following items impact your car insurance premium:
- Car colour
- Distance you drive
- Driving skills
- Age of drivers
- Modifications – not all accept cars that have been modified and those that do, generally charge extra
- Parking – garage parking is considered safest
- Security system
- Where you live
Boat Insurance
Boat insurance is also known as Marine Insurance. This type of insurance is designed for any watercraft vehicle regardless of whether it is a boat, kayak, powerboat, runabout, sailing dinghy, sailboat, windsurfer, jet ski, yacht or other marine vehicles.
There is also insurance for commercial vessels, marina operators liability, charters liability, ship repairer’s liability, marine cargo cover, stevedores liability and work boat coverage.
As you can see Marine insurance is a confusing subject and if you own a boat or other watercraft it is important that you take the time to formulate questions and get those questions answered so that you understand the policy you are buying. Generally speaking the cost of most boats, including the small ones, are thousands of dollars. This means you don’t want to pick the wrong coverage to save a few dollars that could end up costing you hundreds if not thousands should something happen to your boat.
There are several different aspects of boat insurance you need to be aware of. The most important is that the majority of policies state: “It is the responsibility of the owner to immediately take all necessary action to protect the property from further damage when his boat is in peril.”
Believe it or not, there are insurance companies that will not cover the cost of recovery if the vessel was not damaged. There are companies that will not care that the recovery of an undamaged boat was due to the owner taking action to avoid further damage.
Caravan Insurance
On average there are about 500 touring caravans that are stolen in Australia each year. A caravan is considered an extension of your home; this is how it differs from your car. This is why it is important that you take the steps needed to keep your caravan safe. Caravan insurance is one of those steps.
Along with getting the right caravan insurance policy you can also safeguard your caravan with a security device. Some of these security devices include a padlock, lockable covers and locking wheel nuts that fit your caravan well. You should also make sure that you have the chassis number etched in multiple places on the caravan including in the cupboards, undersides of drawers and other places that have bare wood. The government has a website that focuses on precautions caravan owners should be taking to keep their caravan safe, including purchasing the right caravan insurance policy.
Truck Insurance
In Australia there are more than 450,000 heavy trucks driving the 8110,000 km of roads in the country. Should an accident happen it is important that you make sure you have the right truck insurance to protect you.
If you are driver or if you own a business that operates a fleet of trucks you need to carry truck insurance, that will protect you from loss of the truck, pay for any damages to the load that is being carried, the people carrying it as well as other vehicles that are damaged in the accident and any property that is damaged.
