Queensland’s flood disaster has made residents all the more aware of what exactly their insurance policy consists of. Although it is stated in most policies that you will be covered for flood damage that is, flash flooding, storm water and rain water various insurers exclude riverine and inland flooding. This factor has affected many Queensland residences as they are now left with vehicles that are severely damaged and their insurers do not cover them. Many other residents weren’t even covered in the first place and as brutal as it may sound insurer’s are going by the notion of “no insurance, no payout”.

Suncorp is one of Queensland’s largest insurance companies that have flood insurance incorporated into their policy. There will be no issue in paying out clients whose cars, bikes or boats were damaged in the disaster.

This event has left Australians devastated and aware with exactly what their insurers are covering them for. When updating your insurance next be sure to read the policy thoroughly, even the fine print! It is vital to be covered in the event of any natural disaster. If you are not covered the consequences aren’t too pleasant, leaving you with no car to make your way around. Not only will you have to be relying on public transport, but also you will have to start saving for another car or seek for finance.

Let this disaster be a lesson to all, if you weren’t aware of your cover contact your insurer to find out what you are eligible for and seek for a product that does cover you.

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What is comprehensive Car Insurance?

Comprehensive Car Insurance covers you incase of an unexpected accident! Not only if you have damaged yours or another car but also in the event of a fire, flood or theft. Although you can live without insurance, you never know what can unexpectedly happen to you on the road. You are better off being on the safe side, otherwise you will be seeking for large sums of money and you may not be able to afford it at the time.

The factors that will impact the rate of your insurance:

-        If you are under the age of 25 and/or are still on your p-plates expect to have a higher premium than what an individual with years of experience would. Age is a big factor that will influence your premium young individuals have a higher risk of being in an accident, due to being still new to the road and are easily distracted.

-        Gender, it is made known that females tend to be better drivers. Males tend to drive inappropriately at times increasing the chance of being in an accident.

-        The area that you live in is also looked at. If you are in a rural area you will get a lower rate than if you were to live in the city.

-        A safe driving record for at least 3 years will increase your chances of a lower rate, the moment you are in an accident the rate will increase. If it wasn’t your fault this will be taken into consideration and may not affect your rate.

-        The type of car you wish to buy and whether it has extra features.

What fee’s do I need to know about?

Insurance can be paid either monthly in small sums or in one large sum once a year. If you are in an accident you will need to pay excess. What is excess? Instead of paying for all the damage of your car you will pay a set amount of excess that will cover all the damage. Your insurance company will cover the rest and you won’t have to worry about anything. Depending on the deal negotiated you may even have a temporary car whilst your car is being repaired.

Technorati Tags: car insurance, car insurance rates, comprehensive car insurance