What should I check when renewing my car insurance?

13 September 2019

If your car insurance renewal is fast approaching, there are a few simple things you should review to make sure your details are what they should be. You can ensure that you’re paying for the coverage you need, and you may be able to save some extra cash.

List any additional drivers on your policy

It’s important to list the people who use your car regularly, so you can ensure that your policy covers them in the event of an accident.

Listing an additional driver may contribute to a higher premium, but doing so will reduce your risk of extra out-of-pocket expenses should you ever make a claim involving an unlisted driver. Claims like this can incur higher additional excess payments or lead to your claim being reduced or refused entirely.

If the driver of your vehicle is under 25 years of age, or 25 years or over but has less than 2 years’ experience driving after getting their provisional or probationary licence, adding them to your policy can save you the headache of an expensive insurance claim. An age excess applies to a driver (under 25 years of age) who was using or in charge of your vehicle (and at-fault), and an inexperienced driver excess applies to someone with less than 2 years of driving experience who is 25 years or older. Learner drivers do not need to be listed, but in the event they are driving, using or in charge of your vehicle at the time of incident (and at-fault), the relevant age or inexperienced driver excess will apply.

Of course, while it’s important to add drivers as necessary, it can also pay to remove drivers who don’t use your car regularly. For example, if you added your child as a listed driver on your policy, you should remember to remove them once they get their own car and stop driving yours, so they’re not needlessly affecting your premium.

Update your address 

Have you recently moved house? If so, your new location could affect your insurance premium.

Having incorrect address information could mean that we don’t get important documents to you in time or it could lead to a claim amount being reduced or a claim being refused, so this is another area where it pays to be up to date.

Check that your car’s details are correct

Perhaps you’ve had a dent repaired and didn’t claim or you have a cracked windscreen that you’re thinking about getting fixed. In situations like these, you may need to let your insurer know if your car has existing damage.

Also, you may have set up your policy while your car was under finance but have paid it off since then. If that’s the case, making sure that’s reflected in your policy details may help lower your premiums.

Consider your car’s usage

Renewal time is a good opportunity to check your policy and assess whether it’s kept up with your lifestyle. Maybe you’re driving way less than you used to after a job change and you’re taking public transport now. If you’ve made a change like this, make sure it’s reflected in your usage estimate so you can ensure that coverage and premiums are appropriate to your needs.

Other discounts

If you bundle your GIO Home and Contents Insurance with your Car Insurance, you may be eligible for a 10% multi-policy discount.

GIO Claims Free Savings rewards your safe driving through credit on your GIO Platinum or Comprehensive renewal. The longer you keep your policy with us, the greater the credit on your next year's premium, rewarding you with up to 20% credit on the renewal of your policy. Bear in mind this applies as long as you haven’t made any claims where your excess is payable by you during the period of insurance.

If it’s time to renew or make changes to your policy, simply login to GIO Online Services. If you want to get in touch, you can contact GIO today!  

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Insurance is issued by AAI Limited ABN 48 005 297 807 trading as GIO Insurance. Consider the Product Disclosure Statement before making a decision about this insurance. This advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you before acting on it.