Lockdown has left us all scrambling a little, especially when it comes to our finances. Even the best budgeters may be caught off guard and that’s perfectly understandable. Many of us have been stood down, had our hours reduced, or are struggling to keep our businesses afloat. It’s stressful, it’s scary and it’s something we’ve never dealt with before.
We may be saving money on things like fuel and daily outings with the kids, but we’re also spending A LOT more on basics like electricity and food for the snack-loving kids who are now home 24/7. On top of that, bills keep coming in, including house and car insurance premiums.
But is there anything we can do about lowering our premiums during this uncertain time?
Can we get house and car insurance discounts during the current COVID crisis? Possibly! Below are a few tips on how to get discounts during the pandemic.
Easy ways to save on your insurances
1. Look for better
Now’s the perfect time to do so, especially as you’re home and you may have a bit of time. Except, of course, you’re a parent and you NEVER HAVE TIME. LIKE EVER.
So, take the easy road and get a quote online. Compare it to your current premium and see if it’s lower. There’s a pretty good chance you can find cheaper if you just look.
PD Insurance is our pick for easy, fast, affordable car insurance quotes. PD Insurance is an Australian car insurance provider with more than 10 years of experience up their sleeve.
They were one of the first to provide a 100% online service across quotes, account management, and claims and they’ve mastered the fine art of online comprehensive car insurance now.
If you do have a few spare minutes, get an online quote and discover that you CAN save money on your car insurance. Even if you are currently insured, you can potentially get your money back for the unused policy term if you switch to another (cheaper) insurer.
So, regardless of whether your insurance needs renewing or not, now’s a great time to do a search and compare.
2. Check all the car insurance discounts
Look for a company that offers car insurance discounts for how you use your car. PD Insurance, for example, has a special ‘exclusive driver discount’ for people who are the only driver of their vehicle. For families where you have your soccer mobile and your partner has his dirty tradie ute, this discount is awesome.
Even though you’re not driving as much now, restrictions are slowly easing and we will need to put on your Chauffeur Cape and drive the kids here, there and everywhere in no time.
PD Insurance has a few other cool discounts you’ll enjoy too – a claims-free discount if you haven’t put in a claim in the last five years and the early shopper discount if you get a car insurance quote before your existing policy expires. There’s also multipolicy car insurance discounts if you insure all your cars with one insurer.
3. Park right
Park your car undercover, ideally, in a locked garage and make sure your insurer knows – a lot of people don’t know that this impacts their premium but it does!
4. Make your home safer
You’re home more which means you may have the time to invest in better security measures. Or, at least send the husband to Bunnings to FINALLY fix that broken padlock.
You can protect your car from opportunistic thieves by hiding your keys, keeping your doors and windows locked, and making your home appear to be occupied even if you have gone out. Interestingly, 75% of car thefts occur from outside the owner’s home and usually involve a property break-in to get the keys.
5. Adjust your excesses
The higher the excess, the lower your premiums will be. You may want to look at adjusting your excess to be a little higher for both your house and car insurance if you are driving less and are home more.
6. Get an actual estimate on your contents
Remember when you first bought your policy and kind of “guessed” on how much contents insurance you actually needed? Time to rectify it!
Do a wander around the house with a calculator and get an actual estimate of your belongings. You may be surprised at what you should be insured for and how much this can impact your contents insurance premium, especially if you’ve overestimated how much your stuff is worth.
7. Check what your car is worth too
This is the same as your car. Look into agreed vs market value and consider re-jigging what your car is insured for.
8. Pay in full for house and car insurance discounts
Easier said than done, we know, but if you are in a position to pay upfront, do it. Monthly payments attract additional fees, so if you can pay in full then you will avoid extra fees and charges.
9. Tell your provider if circumstances have changed
Many of us are struggling financially and insurance providers understand this. If you feel like you can’t make your payments, talk to them about it. You may also qualify for a discount if you are home more and not leaving the house unattended for long hours during the day.
Many insurance providers offer flexible/alternative payment options to help during this time. PD Insurance is one of them. They get it, they really do care and they provide a wonderful service in challenging times. With PD Insurance, instead expect support, understanding, and assistance.
10. Whatever you do, don’t cancel your car insurance!
Being uninsured, even if it’s only for a month or two, means you’re taking a big risk, even if you’re not driving much or leaving the car in the garage. Comprehensive car insurance protects against things that happen on and off the road, including theft or vandalism. Many thieves are opportunistic and are taking full advantage of the pandemic by scouting the streets for easy targets.
With all the extra risks and uncertainties in our lives right now, an uninsured stolen car or accident while driving the two blocks to the shops is the last thing we need. Check out these additional reasons to stay insured.
The current pandemic is a real threat but we are beating it and we are well on our way to driving more and returning to our busy routines.
Get a quote online and see if you can get a better deal now and for the future. After all, every little bit counts. The more we save now means the more we have to spend on a SUPER FANCY meal out when this is all over.
Or on more snacks for the kids.