What every P-plater should know about insurance

Getting your P-plates is a milestone moment in anyone’s driving career, and in life in general. But whether you’re an avid car enthusiast or you simply need some wheels to get around, it’s important to consider insurance coverage. Let Bingle, part of the Suncorp network, take you through the important details… 

Yes, there are different types of car insurance policies and coverage. Depending on what you use your car for, and how often, it’s a good idea to know what the differences in coverage are so you can decide which is best for you. When weighing up your choices, think about whether you could afford to repair or replace someone else’s car or property if you were deemed to be at fault – think potentially expensive luxury cars or costly infrastructure like power poles! What about your own car? Would you be able to get to work, study, or see friends and family without it? These are all important things to remember when choosing the insurance cover that’s right for you. There are three main types of cover relating to car insurance. Let’s take a closer look at each… 

Comprehensive car insurance covers accidental loss or damage to your car, including damage caused by collisions, theft and natural events. For Bingle comprehensive car insurance policy holders, this includes up to $20 million of legal liability, which covers damage to other people’s vehicles and property caused by the use of your car. If your car is deemed by us to be a total loss (see your policy’s Product Disclosure Statement, or PDS, for details), Bingle will pay you its market value. 

If your car is less than three years old, you can consider Bingle’s optional New for Old Replacement cover*. You can also choose to add optional extras like ‘Windscreen and Window Glass only’ cover, and/or ‘Keep Mobile’ cover, which offers a hire car while yours is out of action following an incident. For full inclusions and exclusions on optional extras, please refer to the PDS. 

With Third Party Property Damage car insurance, you’re covered for liability for accidental damage to someone else’s vehicle or property caused by the use of your car. If you’re not insured and you hit another car and you’re at fault, you could have huge out-of-pocket expenses – but with Bingle’s Third Party Property Damage car insurance you can stress less, knowing you have up to $20 million in legal liability cover. Exclusions may apply, refer to PDS for details. 

Third Party Property Damage car insurance is generally cheaper than Comprehensive. However, it doesn’t cover any damage to your own car. 

CTP and MAI insurance are designed to cover people who may be injured in a motor vehicle accident involving your vehicle. This means CTP doesn’t cover damage to your vehicle, other vehicles or property. It’s mandatory for all Australian drivers and in some states it’s included in your car rego, so depending on where you are, you should consider the rules in the state in which your car is registered. 

Bingle doesn’t offer CTP as it’s focused on offering great value car insurance. However, AAMI, GIO and Suncorp are part of the Suncorp Network, just like Bingle and – depending on your state – may be able to help you out with your CTP insurance. 

Some people choose to have the policy in the name of the person who owns the car (i.e. the parent or parents) and then have the people who use the car (e.g. children who are on P-plates) listed as drivers. So, if you’re driving your parent’s car, you might be able to be listed as a driver on their policy. 

If it’s your car, you could set up the policy in your own name. Regardless of your licence type, it’s a good idea to ensure that any drivers who will be driving your vehicle are listed on your policy to avoid an unlisted driver excess in the event of an accident. At Bingle, adding listed drivers can be done quickly and easily through the Bingle app. 

Bingle takes into consideration a range of factors when calculating your premium, including when you first obtained your driver’s licence. Your car insurance may be more expensive as a result of your limited driving experience, but it is not the only determining factor.  

Other risk factors are considered when calculating your premium, including your age, car, location, and any claims history of the drivers. 

The other potential cost that all drivers should know about is excess. 

An excess is the amount of money you have to pay to your insurance company if, and when, you lodge a claim. For example, if you have a Bingle comprehensive car insurance policy the standard excess range is $700, up to $2300. You can choose an excess amount that suits you. Additional excesses may also apply. The age excess is an additional $600 for drivers under the age of 25. There is also an unlisted excess that applies to household members of regular drivers who are not listed on the policy. If you are unsure of what excesses apply to you, confirm with your insurer or refer to your policy documents. 

Being aware of your insurance coverage is important – whether you’ve only just started driving, or you’re an experienced hand behind the wheel. Bingle makes it easy, so to find out more about Bingle’s car insurance products, head to the Bingle website.

Disclaimer: Insurance issued by AAI Limited ABN 48 005 297 807 trading as Bingle Insurance. Before buying this insurance, read the Product Disclosure Statement and consider whether it is right for you. Go to bingle.com.au for a copy. Target Market Determination also available. The information provided is intended to be of general nature only. Subject to any rights you may have under any law, Bingle does 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 it – please make your own enquiries. 

* New for old option is available for cars which are up to 3 years old at the start of your latest period of cover (based upon your car’s date of manufacture).