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Getting back on the road in 2022? Here’s what you need to know
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The lockdowns of 2020 and 2021 saw a decrease in Australian drivers hitting the road, due to several factors, including the shift towards working from home, as well as restrictions like lockdowns and border closures.
But now that the road to recovery is within sight, many motorists are back on the streets after a lengthy two year hiatus.
After such a long break, there are a few things which you should be considering before you get back behind the wheel.
Is your insurance policy up to date?
Given how the events in recent years have broken us out of our normal routines, you could be forgiven for having let your car insurance policy lapse.
Not only is it a legal requirement to have at least compulsory third party insurance (CTP) in many states and territories, but it’s also a really important financial tool in the event that you cause an accident.
CTP insurance, while it goes by different names in some states, doesn’t cover repair costs. It will only provide cover for injuries to yourself, passengers and other drivers.
There are two main types of car insurance which you need to know about: the first being the aforementioned CTP insurance, and the other being comprehensive car insurance. A comprehensive policy will usually cost more than CTP, but these policies may help you to cover the repair or replacement costs if your car is badly damaged in an accident. In other words, it’s probably a good idea.
Also, it’s good to note that there are plenty of online discounts available on car insurance policies, so be sure to check those out before you put your cash down on the table.
So, if your policy has lapsed, you’re looking to upgrade to a comprehensive car insurance policy, or you’re thinking about switching your policy, then comparing car insurance policies should be your first pit-stop.
Are you considering purchasing a new vehicle in 2022?
If you’re on the road again this year, you might be looking at purchasing a new car. Whether you’re after a second-hand vehicle or a brand new one (for that new car smell), you need to consider a few factors.
If you’re buying a car interstate, buying a used-car, or getting one fresh out of the box at a dealership, the question of financing your new wheels comes into play.
Car loans are a great way to get yourself a new ride if you don’t have the funds to purchase it outright. It’s not only useful for those trying to buy a brand new vehicle, as there are also used car loans available.
It’s also worth noting that no matter the condition of the car you’re looking at purchasing, unless you’re a mechanic or a motorhead, you may benefit from a car inspection service. This is especially important for those looking at purchasing a car online, when you can’t be there yourself to test it out.
In each state and territory these organisations are:
- NRMA: New South Wales & Australian Capital Territory
- RAC: Western Australia
- RACQ: Queensland
- RAQV: Victoria
- RAA: South Australia
- RACT: Tasmania
- Government authorised inspectors: Northern Territory
It’s also important to consider how much registration costs on your new vehicle. This differs a little from state-to-state, so make sure you’re aware of how much you’ll be looking at, depending on where you live, and factor that in.
* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.
^See information about the Mozo Experts Choice Car Insurance Awards