How to save on car insurance costs in 2019

  • July 23, 2021

Insurance companies are offering consumers the chance to get the most bang for their buck in 2019.

As well as paying more for car insurance for many people, some states are offering subsidies for car owners to offset the cost of car insurance premiums.

New South Wales is offering an incentive of $100 per year to drivers on its car insurance scheme, which has been expanded in 2017 to include drivers on private health insurance.

New Hampshire has offered incentives of up to $1,000 per car for drivers who sign up for car sharing services.

Motorists on private insurance schemes could also get an incentive payment of $1 per $1 of premium they pay in 2018.

While some states have introduced incentives to encourage people to sign up, other states such as South Australia have not.

The Australian Competition and Consumer Commission said that some insurance companies were misleading consumers by offering incentives that were “simply not there”.

“It is not a legitimate incentive to use your car insurance to help cover the costs of your health insurance, it is simply a ploy by insurance companies to get people to switch to private health or dental insurance, so they can get some extra cash to cover their health insurance costs,” it said in a statement.

“These are often poorly understood incentives that do not provide consumers with a competitive advantage.”

Insurers should be upfront about their motives and should not seek to make a profit by offering this type of incentive.

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Aaa car insurer says it will stop selling Aaa after it loses $1bn in market share

  • June 29, 2021

The Aaa Automotive Group has announced that it will suspend its car insurance business and will sell its insurance products in a different fashion. 

The company said it would focus its insurance business on smaller-sized vehicles and “be more focused on the insurance industry’s needs”.

“In order to deliver a more competitive insurance business, we will focus on offering a wide range of products in 2018 and beyond,” the company said in a statement.

“We will continue to deliver premium car insurance products and will offer our customers the most advanced technology to meet the evolving needs of the auto industry.”

The news comes as Aaa, the world’s second-largest car insurer, is facing criticism over its handling of its own car insurance and the risk-management program, which is under scrutiny for being overly complex and expensive.

In October, the US Department of Justice filed a civil suit against the company alleging it has “violated” the terms of its policies.

The Justice Department alleges that Aaa’s auto insurance policy policies fail to cover the costs of a driver’s death, including the driver’s medical costs.

Aaa’s chief executive, Gary D. Fink, has said that the company will fight the allegations in court, and has called for an overhaul of the company’s risk management system.