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Car Insurance Companies Australia

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I almost crapped my pants when I found out that I was paying more in car insurance simply because of my occupation. Before you get all up in the air you may be in the lucky group of people that pay less for car insurance. When I first discovered this information I was flabbergasted to say the least.

I researched my information by reviewing the results of the Comparison Market’s 2006 Occupation Report. This report stated that your occupation can greatly impact your car insurance premium. Hold on to your seats because I haven’t even began to scratch the surface.

The Comparison Market also stated as an example that scientists, pilots, actors and a host of others pay the lowest insurance rates at an average of $935.76 per year. On the flip side of the coin we have job occupations such as attorneys, lawyers, judges, executives and business owners pay the highest insurance rates at an average of $1,383.63 per year.

That news made no since to me what-so-ever, but I had to get to the bottom of this. Mr. Roush, CEO of Comparison Market stated that attorneys, lawyers, judges etc… have extremely stressful jobs, which require them to spend more time in their cars and talk more frequently on their cell phones than the average driver.

Ok now we are getting somewhere. It’s all starting to make a little since to me. Now for the other group that I spoke of earlier, i.e. the scientist, pilots, actors and so forth. Their occupations are viewed as being very meticulous and detailed-oriented, which the powers that be feel lead to good driving habits.

For those of you in the know you already realize that receiving discounts on auto insurance is not a new concept. For years major insurance companies have been giving discounts to members of affinity groups, i.e. AARP, AAA, alumni groups and other associations.

Below I have listed the top 10 occupation that pay the least amount in premiums. Unfortunately I do not fall in this top 10 list.

1. Scientist

2. Retired individuals

3. Unemployed (I guess because they cannot afford gas… Just kidding)

4. Pilots and or Navigators

5. Disabled

6. Actor, Performers, and other types of Artist

7. Librarian/Historian

8. Farmer

9. Student

10. Public Official

Here is another little piece of irony for you. Number twelve on the lowest car insurance premium list was a bartender. That totally blew me away.

For more insider trade secrets, or to get your free car insurance quote, check out http://www.a1carinfo.com

Bio:

Tim Beachum is an author, speaker, success coach, actor, independent film producer, movie editor, and a successful Internet Marketer.

Car Insurance Companies Australia

Firstly, what is a write off?

Also known as a total loss, a write off is a vehicle which has been in an accident is either uneconomical to repair or so extensively damaged that it should never be returned to the road.

There are several factors that make up the insurance company's decision to write off a vehicle but essentially it's a judgement that is totally based on the cheapest option available.

Insurance companies will "write off" a vehicle when the cost of repairs is judged be more than the value of the car. This is a more complex calculation than it first appears because of the different costs involved with writing off a car.

1. Scrap value of the car can be a deciding factor

Let's look an example. If your vehicle is worth ?2500 and repairs cost ?1800 then surely you would expect to see your vehicle back on the road?

Not necessarily. Car insurance companies take into account the salvage or scrap value of the car when making the decision. Let's say that a cat is worth upwards of ?700 as scrap, this can be offset against the settlement fee paid to you. Where the settlement fee is in the region of ?2500, the offset figure represent a 35% redeemable value against the expense the net difference, ?1800 being the figure that they need to compare against the cost of repairs.

There are borderline cases to consider too ? looking at the example above, if your car were worth only ?400 in scrap the insurer may well decide to write off the car assuming that there is a high possibility that when repairs are started the mechanics may find further problems not revealed in the initial assessment, thus increasing the cost of repairs.

2. Parking charges

Many garages charge insurers extremely high rates for keeping "written off" vehicles on their premises. Insurers may wish to write off a vehicle quickly to avoid these kind of charges and then dispose of the vehicle at a salvage yard.

3. Type of policy

Another deciding factor in whether your vehicle is written off or not is the type of policy you have. For example, if you have a new for old policy the insurer may be more likely to write off the vehicle under the terms of your policy.

4. Hire charges

Again, the cost of car hire charges can effect the decision ? if your policy includes a courtesy car the charges for the hire of the car may prove too high for the insurers.

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About Author

Both Tim Beachum & Katie Brown are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Tim Beachum has sinced written about articles on various topics from Cars, Auto Insurance and Recreation and Sports. Tim Beachum is an author, speaker, success coach, actor, independent film producer, movie editor, and a successful Internet Marketer.. Tim Beachum's top article generates over 2240000 views. to your Favourites.

Katie Brown has sinced written about articles on various topics from Mortgage Insurance, Auto Insurance and Finances. Visit ASDA Finance for a range of competitive services including fully comprehensive car insurance cover .. Katie Brown's top article generates over 27100 views. to your Favourites.

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However, if you dont feel youll be in a situation such as that, its a luxury that really wont benefit you and will cost a few extra dollars to have, dollars that could easily be spent elsewhere