Virgin car insurance Review Australia | Is it really worth it?
- Car Insurance,
- Jan 29, 2020
Accidents are bound to happen, and it does not always have to be when you are at fault (that’s why they are called accidents, right?). It is quite useful and reassuring, therefore, to know that you are insured for such circumstances so that even if you are involved in one, you do not face a serious setback financially and your everyday life isn’t disrupted. In many countries, it is a legal requirement for you to have certified car insurance for your car and vehicle. These insurance policies cover car damage and can also cover your medical if there are injuries.
Most car insurance companies provide with numerous services and options to their customers, covering aspects as the damages done during an accident, and against hail, fire or storm. You will also find that they most, if not all, offer 24/7 customer support in case you are in trouble and would need quick help from your car insurance company.
There are also some exclusions, some factors that can make your policy void. If you like to street race your car and are involved in an accident due to that, or of your blood alcohol is greater than a certain level and so on (you got the idea anyway)!
We will be studying one such car insurance giant, the Virgin Money, which has one of the best comprehensive car insurance policies which can be tailored to your needs, as per requirement. Let’s dive right in.
Types of Car Insurance
Generally, there are three types of levels of car insurance policies that one can choose from. Let’s briefly go through these before we move on to the vehicle insurance policies provided by Virgin Car Insurance.
Comprehensive: This is the ultimate and the most comprehensive of the policies that are offered by any insurance company. It covers any damage caused to your vehicle in an accident and any legal expenses that may have been incurred. A courtesy car is also included in the deal, while any kind of repairs or the replacement of parts is included.
Third-party, fire, and theft: This policy type covers the replacement of your car if it is damaged beyond repair, by fire for instance, or stolen. And of course, all the repairs are also included.
Third-party: As the name implies, this policy does not include a car replacement in case of fire or theft. It barely covers the minimum insurance required by the law, including the damages to your car.
Virgin Money Car Insurance:
Their policies are written by Auto and General Insurance Ltd. From day one in Australia, Virgin money has a vast network in the country, with favorable satisfaction ratings and services that customers have come to trust in. Another thing to note here is that Virgin money is not limited to car insurance only; they are experts in business, home, travel, credit cards, and other insurances, so they know what they are doing.
Like other car insurance companies, they also offer the three basic types of policies, mentioned above. However, they have further divided the Comprehensive plan into two coming up with the Price saver and the Price Promise Comprehensive plans. The Price Saver is the best package you can get for your car, with a life cover of your car against any time of damage or theft. Moreover, you can also customize your plan and tailor it to your needs by adding the additional options that they offer. Here are a few to give an idea:
✓ Roadside Assistance
✓ Car hire or tow in case of an accident
✓ A variable excess in order to reduce your premium.
You can get started in getting your car insurance online using their website where you can select and customize your plan, get a quote for that and compare it with the other companies and the policies that they have to offer!
Virgin Car Insurance Price
Well, the price depends and varies from policy to policy, the Comprehensive being the most expensive. But the car insurance cost is further based on a risk profile which is maintained by the company, with the following factors that are being observed:
The type of car that you are driving: The rice of the car, and how expensive it is, will obviously have a huge impact on the overall cost of your insurance policy. The latest model sports car is going to cost more to get insured than a decade old truck that has been passed down from brother to brother.
The age of the driver: This may sound like a bit too much, but the age of the driver is also a great factor in defining your policy. It has been statistically proven that young drivers are reckless and more prone to accidents as compared to older, more experienced drivers, hence cost more.
How secure your car is: It gives you a huge plus if you have already installed any kind of a security system in your car, which reduces the amount you must pay for your policy.
The conditions in which the car is kept: If your car has to be parked on the streets all day or night long, or if you live in a place which is frequented by hailstorms, these factors are going to cost against you.
What are the things I am not covered for?
There are several factors in which cases your claim at Virgin Money Car Insurance will be rejected. We tried to list down a few:
✓ In case the driver was under the influence of alcohol or any drug and was involved in an accident.
✓ If you were using your car as providing services to people for transporting them or their goods.
✓ If you used your car/vehicle for any sporting or racing event or it was damaged during a high-speed race.
✓ If your car was involved in an accident and there were explosives found in your car.
✓ If the accident or event happened outside of Australia.
Our Favorite Perks for buying from Virgin Money
✓ If you are looking to buy their Price Saver Policy, we suggest you do that online. You will get a flat 15% for that!
✓ You can also get an exclusive discount if you have already installed a security device in your vehicle.
✓ They have the cheapest third-party insurance policies that are bound to make you consider.