Swap Vehicle Insurance Policies in Two Quick Steps Online!

Some vehicle owners in NSW get apprehensive while switching insurance companies. If you are one of them, then we assure you it is not as complex as you imagine it in your mind. With a little more awareness regarding the switching processes, refunds, exclusions, and choosing an ideal time, you can make switching hassle-free.

Your car insurance NSW provider may have been the best on the block a year ago. But it doesn’t have to be the same the following year. Do your bit of research on car insurance online. Look for products that have incorporated features you need and check if they have any other services that you will pay for but don’t need. Request quotes from several vehicle insurance providers and sign up for the best one that you can afford.

Also, don’t forget to check your running insurance policy’s product disclosure statements to understand how the cancellation process functions. Have this information beforehand, so swapping policy becomes easier. We will help you with the correct order of steps for a successful cancellation and subsequent investment in another insurance policy here.

Current policy cancellation!

  1. Unless you’ve found a new deal mid-term that provides what you need while saving you money, the most favourable time to cancel your existing policy is when the time for renewal is soon approaching. For instance, if your policy is due for renewal in a month, do your research over the next few days then choose a suitable time before renewal to inform your insurer about your decision. 
  2. Get in touch with your insurer and inquire about the steps for cancellation as well as any fees and refunds involved. Make sure you extract all the details, including if it can be done online. For example, your insurer may ask you about the stop date of your policy. You might choose the renewal date to simplify things or you might decide to switch ASAP, to take advantage of savings/better cover immediately.
  3. If you choose a date of cancellation that is before the renewal date, you will likely be refunded the unused premium. You may need to pay some exit fees, however. Talk to your insurer to know more about this.

Purchase a new policy!

  1. Signing up for a new plan with another insurance company should be a cakewalk – if it is not then consider moving on, as it could be an indication of terrible customer service. However, now that most of the services have migrated online, it is pretty straightforward to compare an insurance provider’s policies, request a quote, and buy a policy with a few button clicks.
  2. When you are purchasing a new policy, you can choose the date from when it is active. Select either from the stop date of the previous policy or earlier, depending on what cover you want, when and whether there are any refunds/savings involved. Ensure there is no gap in cover or you are putting yourself at risk of acquiring damage without cover, and if your vehicle is financed you will require ongoing insurance. Provide the financier with your vehicle insurance certificate to stay compliant with the terms and conditions of your loan sanctioning company. Having uninterrupted coverage is always helpful.

Whatever the reason may be for cancellation, it is essential to have a backup at all times. So purchase new car insurance online before or as your existing policy expires. Car insurance in NSW is fundamental to keep your vehicle covered in the brief window of switching policies.

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