Car insurance renewal blunders to avoid in 2021

Let’s make a pact right now to avoid car insurance renewal blunders in 2021. It’s easy to take a misstep when it comes to renewal time, but this year that won’t be you. 

To help make sure nothing goes awry, we’ve come up with a list of common car insurance renewal blunders to steer clear of.

1. Not asking for discounts!

Blunder number one to avoid is forgetting discounts. If you’ve been with your insurance company for a number of years, by all means call them up at renewal time and ask for a loyalty discount. Or if you’re in the process of switching, don’t forget that plenty of insurance providers offer discounts for signing up to a policy online. 

2. Letting details lapse

The second thing to avoid is letting your personal details lapse. If your living situation has changed since you last renewed your policy, you will have to let your insurance provider know. This means keeping your insurance company up to date on important things such as if you move home, get married or even if you start driving your car less.

Big changes like moving to a neighbourhood with a lower crime rate, could actually reduce your premium. So be sure not to forget to tell your insurance company about these things come renewal time.

3. Not reviewing add-ons

Not taking stock of what you’re actually paying for could leave you seriously out of pocket. Renewal time is a great opportunity to review your policy and make sure that it’s all still relevant to your situation. You might even find that there are some optional extras that you don’t have that might actually benefit you.

4. Forgetting to renew on time

If you let your policy lapse and don’t renew it on time, you could be left in a situation where you don’t have any insurance. As it is illegal to drive in Australia without compulsory third party insurance at least, you could find yourself in a lot of trouble.

The good news is insurance companies have to send you a renewal notice at least 14 days before your policy expires. In fact, most do so a month beforehand. So once you get a letter from your provider in the mail, be sure to get on it or at least put a reminder in your calendar. 

5. Not shopping around

Last but certainly not least, not shopping around when it comes to choosing a policy is a serious blunder to avoid. Everyone’s situation is unique, so when it comes to car insurance, no one policy fits all. Shopping around and comparing multiple policies, is a great way to make sure that you find an insurance plan that works best for you.

You can start your search at Mozo’s compare car insurance page. There you’ll find a list of comprehensive car insurance policies on offer in Australia right now. You can view a snapshot of the policy or click through to a more thorough review.

Or if you’re keen to get started straight away, have a gander at the policies below. Here’s to a smooth and savvy car insurance renewal in 2021!