December 2016


Reasons to Invest in a Comprehensive Car Insurance Policy

Comprehensive insurance policies are designed to give you peace of mind, no matter what the situation, your needs will be taken care of.

What is comprehensive car insurance?  Why do I need to take out extra insurance? Isn’t my car’s manufacturer’s warranty enough?

Contrary to popular opinion in some sectors of society, comprehensive car insurance is not the same as your car’s manufacturer’s warranty. They might cover the repair and replacement of similar parts; however, under very different circumstances.

What is comprehensive car insurance?

Comprehensive car insurance is one of the highest levels of insurance you can get for your motor vehicle. It covers you for any damage to your car as a result of a motor vehicle accident, theft, or natural disasters. In the case of a car accident, your comprehensive car insurance will even cover the damage to the other cars that were involved in the accident.

What is a manufacturer’s warranty?

A manufacturer’s warranty, on the other hand, covers you for the repair or replacement of most of the mechanical, electrical, and electronic parts of your motor vehicle. These parts are only replaced if they are defective or break due to normal wear and tear. This warranty is a factory warranty and covers the car for a certain time period or a certain mileage, depending on whichever comes first. In other words, your car’s manufacturer’s warranty might specify that it will cover the repair or replacement of the specified parts for three years or 60 000km. If you travel a lot, it is highly likely that this warranty will expire in less than 3 years but with 60 000km on the clock. On the other hand, if you do not travel a lot, it is probably that the manufacturer’s warranty will expire after 3 years and with about 20 000km on the clock.

Reasons to sign up for a comprehensive car insurance policy

Now that the differences between the two types of warranties are clear, let’s look at some of the reasons why it is important for you to sign up for the latest policy for NRMA comprehensive car insurance from Warranty and Insurance:

  • NRMA insurance is a solid reliable company with a reputation for looking after Australians’ motor vehicles for over 85 years.
  • They offer fully comprehensive cover against motor vehicle accidents, theft, and natural disasters such as floods, storms, landslides, earthquakes, tsunamis. They do not offer cover in the event of your car being involve in a war or in a riot, even if it is inadvertently parked on the side of the road where the riots have erupted.
  • You can claim for windscreen repair, trailer or caravan damage, severe weather damage, storage costs, personal items that were in your car at the time of the incident, emergency repairs to get you home or to the dealership, damage to another vehicle, and damage to your car by an uninsured driver.
  • If you do not have comprehensive insurance cover,  and you are involved in a motor vehicle accident, not only will you be responsible to pay the full cost of the repairs to your own vehicle, you will also be held liable for damage to the other vehicles involved in the accident, especially as the accident was deemed to be your fault.

Final words

We have seen that it is a very good idea to take out a comprehensive insurance policy. Should you be interested in discussing your options with a skilled consultant or just understanding more about comprehensive insurance policies, you can click here for more information.


Resources That Will Keep You On Budget

For some of us, budgeting is a simple task of adding up our financial comings and goings, making a plan, and sticking to it. Sound easier said than done? Then you’re with the rest of Americans who don’t find this chore as cut and dry. According to a 2013 poll completed by Gallup, an analytical consultation company, only 1 in 3 Americans have a household budget. One could guess that many of these individuals don’t table a personal budget because they don’t know how. While this is probably true for some, but what’s more likely is the majority find it difficult to stick to the plans they’ve made.

Temptation is lurking around every corner. Online shopping makes it easy to purchase unnecessary clothes, gadgets, and appliances. Stopping in at your local Starbucks every day to pick up a coffee to go is just as simple. These thoughtless, spontaneous spending habits can make it a challenge to put aside savings. Meanwhile, things that are completely out of your control, like a sudden repair or bill, can drain your finances completely and ruin your plans for months to come. If you haven’t been budgeting properly in the months beforehand, you may not have the means to cover these unexpected expenses. Without any savings put away, many Americans find flexpay installment loans online — small dollar cash advances with extended repayment terms — in order to cover these unavoidable repairs and bills.

An installment loan will always be a practical form of financial assistance. Unlike short term loans that require full repayment by your next payday, flexpay installments loans allow for partial payments scheduled over 7 weeks or 4 months. Despite how easy they are to integrate into your monthly expenses, they’re only meant to act as a one-time “back-up” for non-recurring bills and repairs you can’t cover on your own. They aren’t supposed to be a regular feature in your budget — that is, if you had one.

Knowing you can apply for an installment loan can give you peace of mind over your finances, but you can eliminate all of your finance related stress by creating a well-made budget. It’s an invaluable financial tool that gives you complete control over your money, helping you to achieve goals on top of meeting your monthly responsibilities. And it’s achievable, even if you don’t have a mind for numbers. Take a look at the following free, online resources that can help make a successful budget a reality.

  • com — This web- and mobile-based app will keep track of your money and send important notices about upcoming bills and other responsibilities. You only need to fill in some financial information when you create an account and Mint will handle the rest. They even have a built-in goal setting feature that can keep you on track of your objectives.
  • Level Money — Smartphone die-hards will appreciate this money-saving app. It’s designed around the old-fashioned envelope system, in which you keep all of the cash you need each week in labelled envelopes. Instead of physical envelopes, Level Money provides you with digital ones, each with a set allowance for each of your responsibilities. Once you hook it up to your accounts, it will deduct costs from these allowances as you spend, so you can see how much money you have left to spend in order to stay on budget with a simple swipe of your finger.

Money may not come as easier to you as it does to other people, but with the right resources at your side, you can keep on financial track and cover all of your responsibilities. Learn how to table a successful budget, and don’t be afraid of using secured online apps like Mint and Level Money to get you started. And remember, flexible installment loans can help you out in a pinch when you encounter hiccoughs in your financial plans.