Are You Overpaying for Car Insurance? Here's Why Seniors Should Compare Rates Now!
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As an older driver, you've likely seen your car insurance premiums rise year after year. But did you know that the average increase in car insurance premiums across Australia is a whopping 18% compared to last year? That's according to Canstar’s Steve Mickenbecker.
In fact, Canstar data reveals that the average car insurance premium has risen by $274 in 2023 compared with 2022. That's a significant increase, especially for seniors on a fixed income. But there's good news: you don't have to accept these rising costs without a fight.
Enter 'Compare the Market*', a comparison business that compares up to 10 different car insurance brands to help you find the best deal.
"Seniors and pensioners have several ways to potentially reduce their car insurance costs," says Adrian Taylor, General Manager of General Insurance at Compare the Market. "From restricting the age of drivers to changing how the value of your car is calculated (market v agreed value), there are numerous strategies to help you save."
One of the most effective strategies, according to Mr Taylor, is to compare insurance annually*. "Car insurance policies almost always increase in price every year, even if you haven’t made a claim," he explains. "Comparing policies every year can help you look for a better deal elsewhere."
Mr Taylor also recommends paying attention to your renewal policy. "It should show both last year’s premium and your new premium, meaning you can instantly see how much more you’re being asked to pay," he says. "Make note of the difference to see how big the new change is before comparing car insurance."
Other tips from Mr Taylor include paying your car insurance annually to avoid any additional instalment fees, considering who is driving your car (younger drivers will likely increase the premium you pay), and not waiting for your renewal to save money. "You can cancel your existing policies at any time and switch insurers," he says. "Just be aware of any cancellation fees that may apply."
So, if you're tired of seeing your car insurance premiums rise year after year, it's time to take action. Visit Compare the Market* today and see if you could save by comparing car insurance rates. After all, why pay more when you could be paying less?
*Please note, members, this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We simply do this to assist with the costs of running the SDC. Thank you!
In fact, Canstar data reveals that the average car insurance premium has risen by $274 in 2023 compared with 2022. That's a significant increase, especially for seniors on a fixed income. But there's good news: you don't have to accept these rising costs without a fight.
Enter 'Compare the Market*', a comparison business that compares up to 10 different car insurance brands to help you find the best deal.
"Seniors and pensioners have several ways to potentially reduce their car insurance costs," says Adrian Taylor, General Manager of General Insurance at Compare the Market. "From restricting the age of drivers to changing how the value of your car is calculated (market v agreed value), there are numerous strategies to help you save."
Car insurance rates are surging across the country, with double digit percentage increases compared to 2022
One of the most effective strategies, according to Mr Taylor, is to compare insurance annually*. "Car insurance policies almost always increase in price every year, even if you haven’t made a claim," he explains. "Comparing policies every year can help you look for a better deal elsewhere."
Mr Taylor also recommends paying attention to your renewal policy. "It should show both last year’s premium and your new premium, meaning you can instantly see how much more you’re being asked to pay," he says. "Make note of the difference to see how big the new change is before comparing car insurance."
Other tips from Mr Taylor include paying your car insurance annually to avoid any additional instalment fees, considering who is driving your car (younger drivers will likely increase the premium you pay), and not waiting for your renewal to save money. "You can cancel your existing policies at any time and switch insurers," he says. "Just be aware of any cancellation fees that may apply."
So, if you're tired of seeing your car insurance premiums rise year after year, it's time to take action. Visit Compare the Market* today and see if you could save by comparing car insurance rates. After all, why pay more when you could be paying less?
*Please note, members, this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We simply do this to assist with the costs of running the SDC. Thank you!
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