Finance expert warns Aussies about the consequences of defying this policy
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Aussies love exploring the great outdoors with their vehicles.
Apart from the usual maintenance, vehicle owners also know the value of car insurance.
Did you know that a 'simple' mistake could leave you high and dry, with no insurance cover when you need it most?
It's a concern many drivers may not even be aware of and has led to hefty out-of-pocket repair bills.
Insurance specialist Adrian Bennett recently highlighted this issue in an interview.
'Many people do not realise that their car insurance can be voided by simple actions they might not think twice about,' Bennett explained.
It's a sobering thought for those who take pride in their vehicles.
One of the most frequent pitfalls is vehicle modifications.
While drivers want their vehicles to reflect their personalities, changes like engine upgrades, altered exhausts, and suspension tweaks could impact a car's insurance coverage.
These impacts could be evident when the modifications were undisclosed to the insurer.
Bennett also pointed out another typical blunder that could cost drivers thousands.
Bennett shared that failing to pay car insurance premiums on time could leave many drivers uninsured.
Forgetting to update payment details after switching bank accounts could have serious consequences.
'Missing a payment can lead to a lapse in coverage,' Bennett added.
'You won't be protected if you're involved in an accident,' he said.
Driving without a valid licence or not adhering to licence restrictions could also instantly void car insurance.
Insurers expect drivers to comply with licencing requirements, and any breach could lead to rejected claims.
Another major blunder is reckless driving.
Speeding or performing dangerous manoeuvres on the road could endanger lives and void car insurance.
Similarly, driving a car that does not meet road standards—including faulty blinkers, brake lights, or insufficient tyre tread—could lead to voided car insurance.
Overloading a car beyond its recommended capacity or failing to lock the car when leaving it unattended could also result in voided insurance, should the vehicle get stolen or damaged.
'Prioritise safety and stay educated on what is roadworthy and permitted for your vehicle,' Bennett advised.
If you're driving safely and following road rules, you're less likely to get into a situation that could void your insurance.
Understanding your vehicle's limits and requirements could prevent unintentional violations.
So, let's all take a moment to reflect on our driving habits and ensure we're not inadvertently putting our insurance at risk.
Have you ever been caught out by any of these common mistakes? Share your experiences in the comments below, and let's help each other stay safe on the road!
Apart from the usual maintenance, vehicle owners also know the value of car insurance.
Did you know that a 'simple' mistake could leave you high and dry, with no insurance cover when you need it most?
It's a concern many drivers may not even be aware of and has led to hefty out-of-pocket repair bills.
Insurance specialist Adrian Bennett recently highlighted this issue in an interview.
'Many people do not realise that their car insurance can be voided by simple actions they might not think twice about,' Bennett explained.
It's a sobering thought for those who take pride in their vehicles.
One of the most frequent pitfalls is vehicle modifications.
While drivers want their vehicles to reflect their personalities, changes like engine upgrades, altered exhausts, and suspension tweaks could impact a car's insurance coverage.
These impacts could be evident when the modifications were undisclosed to the insurer.
Bennett also pointed out another typical blunder that could cost drivers thousands.
Bennett shared that failing to pay car insurance premiums on time could leave many drivers uninsured.
Forgetting to update payment details after switching bank accounts could have serious consequences.
'Missing a payment can lead to a lapse in coverage,' Bennett added.
'You won't be protected if you're involved in an accident,' he said.
Driving without a valid licence or not adhering to licence restrictions could also instantly void car insurance.
Insurers expect drivers to comply with licencing requirements, and any breach could lead to rejected claims.
Another major blunder is reckless driving.
Speeding or performing dangerous manoeuvres on the road could endanger lives and void car insurance.
Similarly, driving a car that does not meet road standards—including faulty blinkers, brake lights, or insufficient tyre tread—could lead to voided car insurance.
Overloading a car beyond its recommended capacity or failing to lock the car when leaving it unattended could also result in voided insurance, should the vehicle get stolen or damaged.
'Prioritise safety and stay educated on what is roadworthy and permitted for your vehicle,' Bennett advised.
If you're driving safely and following road rules, you're less likely to get into a situation that could void your insurance.
Understanding your vehicle's limits and requirements could prevent unintentional violations.
So, let's all take a moment to reflect on our driving habits and ensure we're not inadvertently putting our insurance at risk.
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