COMPARE CAR INSURANCE

Car insurance is a contract between you and an insurer where you pay a premium in exchange for protection from financial loss. It provides varying levels of coverage for cars that are damaged in incidents such as collisions, vandalism, and natural disasters, or if they’re stolen.

You might even be able to dip into some optional extras like excess-free windscreen cover and choice of repairer.

For instance, if you cause an accident that damages your car and someone else's vehicle, this is how it works:

• If you have comprehensive insurance, you can claim the cost of repairs to your car and the other vehicle involved.
• If you have third-party property only or third-party, fire, and theft car insurance, your policy will only cover the repair costs of the other vehicle.

That said, there may be instances where car insurance won't be able to help. If you have an accident under the influence of drugs or alcohol, or you're claiming for wear and tear, like a worn brake pad or a breakdown, you won't be covered.

So, before you buy car insurance, it's worth reading the product disclosure statement to get a complete picture of what's covered and what isn't, how you can make a claim, and more. Give our comparison tool a go to get an idea of the policy features you might come across and see how policies from our range of providers stack up.

Just like some other forms of insurance, such as travel or health insurance, when you make a car insurance claim, you can be charged an excess payment. It's the charge you pay after making a claim in order to receive the benefits that your policy entitles you to (such as repair or replacement of your vehicle)

You usually only pay an excess charge if you're at fault or are unable to identify another party at fault.

If you're able to identify a third party who is at fault, your insurance provider will then go to the third party - or their insurance provider - to recover the costs.

Your product disclosure statement (PDS) may list what your excess is, so you know what to expect if you ever need to make a claim.

When you sign up for car insurance, you're often asked whether you want to insure your car for an agreed value or for market value. This is the monetary figure you'll receive from your insurer if your car's written off or stolen.

Market value takes into consideration depreciation, and wear and tear, making it an accurate representation of the amount you would have received if you'd sold your car.

Agreed value is an amount you and the insurer have agreed upon at the start of your policy for the period of insurance.

There can be pros and cons to either approach that you might want to weigh up. For instance, setting an agreed value might mean you get a higher write-off figure, but it could come with a higher premium.

Comparing car insurance can feel like trying to find a needle in a haystack. It can be exhausting to try and sort through all the providers, plans, and perks to find the one you want.

That's why a great choice for comparing policies online could be a car insurance comparison tool like iBondAuto's.

You just need to add a few details, and voilà! You can compare policies from a range of providers laid out side by side with features like costs, excesses, and coverage limits – all minus the hassle of jumping between multiple insurer websites. And the best part is, it will cost you the same as it would to buy a policy directly from the insurer.

Just remember to keep your car's details on hand, such as the make and model, year of manufacture, accident history (if any), where it's usually parked, and what you intend using it for (private, business, ridesharing, or similar). And always read the product disclosure statement (PDS) before you decide to buy.

We get it. Everyone's trying to save as much as they can on household expenses like car insurance. So why wouldn't you want to scope out a cheap car insurance policy?

If you're looking to score a cheaper premium, you could try a car insurance comparison tool like the one we offer to help compare a range of policies and providers.

But here's something important to consider – taking out a policy that isn't necessarily the cheapest but offers more value for money might help you hold on to your hard-earned moolah in the long run.

If you don't have the appropriate level of cover and have an accident, you could be hundreds or thousands of dollars out of pocket if you want to repair or replace your car. Comprehensive cover, though pricier, could do either depending on the conditions outlined in the product disclosure statement.

In fact, there are several ways to save on car insurance costs, from increasing your excess to choosing a pay-as-you-drive policy.