Though the United States and the United Kingdom are the most popular, people who are interested in studying abroad should give Australia a second look. Australia has a top-notch education system that can accommodate international students, and its economy is also quite robust.

Didn’t Know About Car Insurance

Didn’t Know About Car Insurance

Insurance is an important aspect of owning a car you don’t want to ignore. With car insurance, you can avoid unexpected expenses such as medical bills due to an injury or repair costs. However, car insurance can only be helpful if you know the basics. With the basics at your fingertips, you can make a more informed decision that will save you from future regrets. Here are some of the things you need to know about car insurance before you settle for one.

Cheap is not always expensive

Many people have a misguided opinion that cheaper things are always expensive in the long run. Some of the most useful coverages do not go for many dollars. The most expensive coverage is liability insurance. Other coverages are capped based on the initial value of the car. This means that you will pay fewer dollars if the car is in top shape. Some optional yet important coverages such as gap coverage, rental reimbursement, uninsured motorist coverage and roadside assistance provide an extra protection at a cheaper cost.

Car insurance rates are influenced by many factors

Several factors come into play when deciding insurance premiums. Each company has its own technique of evaluating risks. They have different guidelines regarding the type of drivers they want and the amount they charge based on the risks available. During underwriting, the companies categorize people based on the amount of compensation they believe they can pay when the unexpected occurs. They may look at the driver’s history on the road such as the number of tickets and accidents he or she has caused. Some companies use the previous insurance report to see whether the applicant has filed a claim and the amount of money paid. Some companies are strict, and they will go beyond the recommended three-year timeline to five or more years when looking at the driver’s accident and violation history. All these factors will determine the amount of premium you will have to pay for the policy.

Insurance rates vary with company

The insurance industry is one of the industries that have fierce competitions characterized by price wars and extreme commercials. This translates to reduced prices and improved services. As a result, buyers should be willing to shop around instead of settling for the first company they come across. However, the price must come with excellent services. In most countries, insurance prices are set by law or approved by states. The best approach is to discover what you want before you make a comparison. There are several online sources that allow you to make comparisons in your state or country.

You will pay more if you let the car insurance policy lapse

Most companies have strict payment rules because they view policyholders as high risks and irresponsible. They are likely to charge you more if you let the policy lapse. To avoid this, especially if you are planning to change your current insurance company, buy insurance before you cancel the policy.

Discounts are good

There are discounts for almost everything that is on the market, including car insurance policies. Each insurance company has its own technique of giving discounts. Some have discounts for good driving record, car safety features and the mechanical situation of the car. Others give discounts for anti-theft devices and electronic payments. Make sure you inquire the type of discount a company gives. You can improve your safe driving skills and install additional safety features on the car to qualify for more discounts.

The type of car affects the rate of insurance

The car you drive will affect the rate of the insurance policy. Most countries have online databases that have all the information related to the rate of accidents caused by different car brands. Many car insurance companies use such data to come up with a less risky policy plan based on the safety records of the car you have. The companies also look at the repair cost of the brands to determine the rate you will pay. For example, you will have to pay more for a car with expensive spare parts. You will also pay more if your car type is highly susceptible to thefts.

Al these factors will either raise or lower the cost of car insurance. Therefore, you have to keep the cost of the car insurance in mind whenever you shop for a new or used car. You will most likely find out that your overall rate is far much different than the other person driving the same car.

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Don’t Have Home Insurance

Don’t Have Home Insurance

Writing your mortgage check each month makes many homeowners wonder what might happen if they didn’t have to pay for home insurance. Cancelling the policy could save a few hundred dollars per month on their mortgage if the cancel and remove it from their escrow, but the effects are dangerous. It seems outrageous to think anyone might realistically consider canceling their home insurance, but many homeowners do. They own their homes outright. They forgo insurance on vacation homes since they have it on their primary residence. They cancel policies to save money, and they assume nothing unfortunate will happen.

Expecting the unexpected is the premise of home insurance. Floods, hurricanes, tornadoes, wind, downed trees, fire, and burglary could happen at any moment in time. It’s unpleasant to think these things could happen to you. Chances are slim they will happen, but preparing for the unexpected is safer than living like you’re invincible. What might go wrong without home insurance is terrifying, and most people never consider what could happen.


All homeowners are required to provide reasonable care to anyone who might enter their property. It’s reasonable to assume you knew your broken sprinkler caused a slick, icy walkway yet you did nothing to warn anyone of the imminent danger. The injured party might sue you, and you have no protection against that lawsuit without home insurance. Insurance provides liability insurance so you don’t suffer financially in case something like this occurs.

The Cost of Disaster

All it takes is one light to spark and cause the Christmas tree to go up in flames for your house to burn down and destroy all your worldly possessions. If you don’t have an insurance policy on your home, you are personally responsible for replacing all your belongings as well as rebuilding or buying a new home. Home insurance pays the homeowner the value of the home as well as the value of their lost personal property so you have the funds to replace what you lost. Most families cannot afford to lose a home and their worldly possessions without receiving a check from the insurance company to cover the costs associated with replacement.

The Cost of Repairs

Home insurance isn’t just for major disasters and total loss. It’s also beneficial for anyone who owns a home that needs some work. If a storm causes your roof to leak and you need to replace the roof as well as make some interior repairs to a few rooms inside, you’ll need the funds to do this. If you have insurance, it’ll cost you nothing more than your deductible to have these things fixed and repaired. Most homeowners can’t afford to spend thousands of dollars making repairs to their home when something occurs. It’s why insurance is such a must.


If you bought your home borrowing money from a bank, you need insurance. No lender permits homeowners from living in a home that’s not insured. If you own a home and decide you can no longer afford home insurance, you’re going to want to know what might happen. The bank is not going to be pleased. They own your home until your mortgage is paid off, and they don’t want that home to burn down or be damaged in a flood when no one can afford to make the necessary repairs. They want to know their investment is safe.

The first thing your lender might do is file a lien against your home if you cancel your home insurance policy. This lien could state you have a certain number of days to reinstate your insurance or they can foreclose on the home. If you fail to maintain your home insurance, you could see the bank foreclose your home. Most homeowners will agree losing their home to foreclosure over homeowner’s insurance is not an ideal situation.

If you ever considered dropping your homeowner’s insurance to save a little money throughout the year, now is the time to let go of that thought. The consequences of not having insurance on your home are extreme. If the cost is too much, shop around for other policies from other agents. Ask for discounts, install an alarm system, or even consider moving to a safer neighborhood or one in an area that’s not a flood zone or considered high risk in another way. You could lower the cost of your insurance and save yourself financially.

Great Cheap Car Insurance

Great Cheap Car Insurance

Understanding car insurance and how it works isn’t high on anyone’s list of enjoyable things to do, but it’s imperative every driver learns to understand how it works. Drivers need car insurance, and most prefer cheap car insurance in terms of premiums. Asking an insurance agent to provide the most coverage for the cheapest price is ideal, but it’s not how it works. The best coverage is often more expensive, and settling for cheap car insurance sometimes means settling for too little coverage. This doesn’t mean cheap car insurance isn’t available with more options, but it’s not always so obvious. If you’re looking for more affordable car insurance, there are numerous tips associated with finding the best coverage for the best price.

Shop Around

This should sound like common sense, but it’s not always. One car company might say their prices are the cheapest, but it’s not always true. Finding comprehensive and cheap car insurance isn’t possible unless you’re able to compare policies and quotes. Take the companies you are comfortable working with or that promote the lowest prices and compare what they have to offer. Don’t be afraid to tell them what you want or that you haven’t a problem looking elsewhere if they can’t offer what you desire.

Check Your Credit

If you want cheap car insurance, check your credit score. If you have bad credit, you’re going to pay higher premiums. It’s just standard practice within the insurance industry. However, you might have a long history of on-time payments, low debt-to-income ratios, and low to no revolving balances and still end up paying more. Just because you’re responsible with your credit doesn’t mean you don’t have a bad score. You might have been the victim of identity theft, or you could be the victim of a common error on your report.

All it takes is one credit card company to report someone else’s delinquent payments under your name, or one credit bureau employee to make a mistake entering information into their database to ruin your good credit score. Check the report, look for errors, and request any mistakes are fixed immediately if you find them.

Consider Your Vehicle

If you drive an expensive brand-new vehicle or one worth a lot of money, you must have collision and comprehensive coverage on your car. If you drive an old car that’s only worth a few hundred dollars at best, you can skip both. These policies only pay you what the car is worth, and paying a few hundred dollars every year for these policies makes very little financial sense if your car is only worth $1,000 or less. Do the math, figure the value, and change your insurance options. You can create your own cheap car insurance if you drive something old and almost worthless.

Get the Cheap Deductible

Many insurance agents tell you the best way to get cheap car insurance is to opt for the most expensive deductible available. It means paying less on a monthly basis and more if something happens. Others disagree this is the best option. If the average savings a driver receives from switching a $500 deductible to a $1,000 deductible is only $200. If you go to $2,000 as a deductible, you’re still only saving around $350 per year. At $350 per year savings, it’s only an additional $29 per month in your pocket. It sounds significant but if you’re involved in an accident and forced to pay your deductible, you’ll wish you paid the additional $29 per month for a $500 deductible when you have to pay $2,000 out-of-pocket.

Call the Insurance Company Before Shopping

Saving money by finding a cheap car insurance policy doesn’t necessarily mean dropping important coverage to pay lower premiums. All drivers have the right to ask for discounts from their car insurance agency as well as shop around until they find an agent willing to offer those discounts. Ask for discounts for cars with the following:

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– Anti-theft features
– Driver safety features

You can also report your latest move to the agency to see if you’re in a neighborhood with a lower crime rate. This can help you lower the cost of insurance premiums. Every little bit helps, and you won’t know if you can save anything until you ask. Be prepared to provide proof of any claims you make asking for a discount, and see how fast your rates will drop.

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