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What to check at renewal time
12 July 2024
For many people, car insurance can often be “out of sight, out of mind,” however, it’s important to check your policy info at renewal time for things like your amount covered and other details.
Why you should review your car insurance policy
Your personal circumstances may have changed
You may need to add a family member as a listed driver. Or maybe you’ve moved house, or started driving at peak times. Changes like these may affect your insurance premium, so when in doubt, it’s best to inform us.
Your insurance needs may have changed
You may have added new accessories to your car, or decided you need optional extras, or additional coverage.
For example, Third Party Property Damage Insurance may have been suitable in the past, but you might now need coverage that includes your car – not just the loss or damage to another person's car or property.
Suncorp Comprehensive Car Insurance covers your vehicle for accidental loss or damage due to flood, collision, malicious impact, and other insured events.*
Get a Comprehensive Car Insurance quote
However, even if you don’t think your personal circumstances and insurance needs have changed since your last renewal, it’s still important to review your policy document together with your Product Disclosure Statement. Also, check that everything is up to date, and for any changes to your policy.
What to look for when reviewing your car insurance policy
Amount covered
With Suncorp Insurance, the amount covered refers to the amount that your vehicle is currently insured for. The most we will pay for any one incident is the amount covered for your car as shown on your certificate of insurance, unless we say otherwise in your policy. It includes the value of any mods or accessories you’ve fitted to your car, registration and compulsory third party/motor accident insurance.
How much you drive
Your ‘’yearly kilometres’’ can be updated based on how much you drive. This may be because your usage has changed along with any of your personal circumstances – for example, you may start using public transport more.
If you've noticed or expect that your driving habits will change, it’s a good idea to update the yearly kilometres on your policy to ensure that it still accurately reflects the average amount you drive.
Listed drivers
You should list everyone (except learner drivers) who will drive this car more than once during the period of insurance, whether that’s regularly or only occasionally.
Or if, for example, a listed driver does not drive your car anymore, you may consider removing them from your policy.
Excess
An excess is the amount you pay towards the cost of your claim for each incident covered by your policy.The total excess you are required to pay is determined by the circumstances of your claim. Sometimes you might have to pay more than one type of excess. Not sure what excesses apply to you? Check your certificate of insurance.
Choosing a different voluntary excess may impact your premium.
It’s important to ensure that your excess is an amount you’re comfortable paying.
Renewal time is a good opportunity to consider if you’d like to make changes to your voluntary excess. Keep in mind that you can only change your excess at renewal time. An excess cannot be changed mid-term.
Update your personal details
Think about whether your personal details have changed recently. This includes things like your:
- contact details (for e.g. your email or mobile phone number).
- name,
- address.
Optional extras
You should also consider whether you want to add optional extras for an added cost. With a Suncorp Comprehensive Car Insurance policy, you can add on Roadside Assist, Hire Car after an event, and windscreen and window glass damage cover.
These optional extras may be particularly useful if you rely heavily on your car.
How to update your car insurance policy
You can easily update your car insurance policy online through My Suncorp. Here you can, update your details, tailor and pay your renewal, access your documents, track your claim, and more.
How to add a new driver to your car insurance policy
You can add or remove drivers to your policy at any time. Simply login to your My Suncorp account, click the ‘Update my policy’ heading, and select ‘Listed Drivers’.
Read more:
*Subject to the conditions, limits and exclusions of your policy.
Insurance issued by AAI Limited ABN 48 005 297 807 trading as Suncorp Insurance. Read the Product Disclosure Statement before buying this insurance. Go to Suncorp.com.au for a copy. The Target Market Determination is also available. This advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it.
The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.
