What Aussies Seniors Should Know About Car Insurance

In Education

As you age, your car insurance premiums as a driver can be costly, and thus you should not assume that you are going to be spared because of your age. It is important to remember that as you get past 60 years, insurance providers will begin factoring various thongs such as health complications and slower reaction times, which may make your premiums costly. Australian seniors can have their cars covered for things such as theft, mishaps, and accidents, so they should not worry while driving on the road.

For Aussie seniors, it is important to note that the phase they are in their life can impact on the policy they are getting. Usually, premiums are calculated based on risk meaning that as one gets old, they are likely to pay more premiums even if they have a save driving history running for decades. But the good part is that seniors will receive discounts in several areas, and Australian Seniors can get providers that offer discounts.

Check eligibility to drive as per State laws

The first thing to consider when you are looking for a car insurance plan as a senior is your legibility to drive. In Australia, there are different laws per state governing senior drivers. These laws are subject to change, and thus it is important to check with your state’s transport laws before you drive.

Queensland

In Queensland, senior drivers above 75 years should carry a “Medical Certificate for Motor Vehicle Driver.” The certificate is renewable annually but could be valid for a short period of the driver who has medical conditions that need regular reviewing. 

New South Wales

For drivers aged between 75 and 84 years, they have to pass a yearly medical review for them to continue driving. However, past 85 years, one should have an unrestricted license plus having to pass the annual medial review s and undergo practical driving assessment after every two years.

Victoria

In Victoria, seniors have to renew licenses after three years, but there is a requirement of continuous self-assessment of their wellbeing to judge suitability to be behind the wheel.

Tasmania/South Australia

In these states, a senior has to pass a medical exam to renew their license. Those above 65 years renew the license after five years, and drivers above 75 years do not need to pass a medical test every year.

Car Insurance Options for Aussie Seniors

After passing your medical review, then you should compare the different options of car insurance plans available. Here are some of the options available:

  1. Comprehensive car insurance

This is the most ideal cover for seniors as it covers on-road accidents, vandalism, fire, and storm, among others. It offers monetary caps on personal property, trailer cover, and other things like being able to choose your repairer. This cover protects seniors throughout their life on the road, and it eliminates the chance of paying a lot if the car is damaged.

  • Third-party property insurance

It is an intermediate level covers offered by providers, and it covers costs of repair or replacing damaged property doesn’t belong to you during an accident, but it is capped. Unfortunately, this cover will not help in repairing your car.

  • Third-Party, Property, Theft, and Fire

This covers accidental damage, fire, theft, and vandalism. It offers additional benefits to Third-party property insurance

  • Compulsory third cover

This insurance is compulsory in all states, and it covers injuries or death during accidents on the road. It might be tied to the car registration fees depending on the territory, but in other regions, you can shop for the best deal.

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