
Get exclusive money-saving offers and guides
Straight to your inbox
Updated
We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!
If your car insurance is about to lapse, you're probably wondering if you should renew your policy. While this may be the most convenient option, hell you might even have an auto renewal set up, it might not give you the best value for money.
Before it comes time for you to renew your policy, your insurer will send you out a renewal notice. This normally happens a couple of weeks before you're policy is due to end. On this notice, it'll let you know how much your premium is going to be for the next year.
How you go about renewing your policy will depend on the option you selected when you took out cover.
The steps involved in renewing your car insurance will vary depending on both how you choose to renew your policy and the options available through your insurer. Broadly you may:
At this time it's important to do two things.
First, you're going to want to have a look at how much your insurance is going up. Unlike with something like health insurance, your car insurer isn't going to send out a notice letting you know how much your premiums are going up.
The Treasury Department is currently looking into whether general insurers should be required to call out the percent premiums are going up on renewal notices but it's not a thing right now. What that means is you're going to have to get out your last bill and work out yourself how much more you'll be paying.
Second, now that you know how much more you're going to be paying, it's time to compare your options...
Before re-upping with your current insurer or switching, you should consider:
After working through the four points above you should have a pretty clear idea about whether or not your should stick with your current insurer or move to a new provider.
Since car insurance is such a personalised product in that it takes into account variables ranging from your age to where you park your car at night, there is no average percent that you should expect your premiums will go up.
As previously mentioned, while there are calls for greater transparency around premium increases it's currently on the consumers (ie you) to check how much more you'll pay.
I'm just going to say it, auto renewal is the devil. That is not to say that your current insurer might not be the best option available to you but that it never hurts to explore your options.
Picture: GettyImages
Whether you want to massage your feet, back or whole body, we’ll help you find the best massager for your needs.
The key factors you need to consider when comparing and choosing lip balms.
These are the best PC controllers you can buy right now in Australia.
Discover more than just idyllic beaches and untouched national parks along the Sunshine Coast.
Google has fixed almost everything it got wrong with its first-generation Pixel Buds, with improved comfort, fit and Google Assistant integration, but increased competition in the true wireless space leaves them as headphones for the Google faithful.
Klipsch’s McLaren edition earbuds don’t fall out, even if you have smaller ears, and come with a fully waterproof case and a wireless charging mat.
These are the best gaming monitors you can buy right now in Australia.
Enjoy 26% off the Lenovo Duet Chromebook, 69% off the Cabello Silk Smooth Styler and 21% off the Dell G7 17 Gaming Laptop.
Engines aren’t the only thing overheating on the roads this summer – our tempers are too, according to new research by Finder, Australia’s most visited comparison site.
Find the best caravan parks in Mannum and explore the heart of the Murray River.