Medicare

Private Health

RTA

Money Smart

NDIS


The Reason Why Bingle Insurance Is So Cheap

A price comparison table found on Bingle’s website

Slowly as Australians look for new ways to save money, the insurance sector is also struggling with their traditional business sales. New innovative ways had to be introduced to keep up with technology as well as the cost customers are willing to pay.

Many people have wondered why Bingle is such a cheap insurer and the reason to why they are so popular. First of all, they are owned by Suncorp. For those that have a bit of knowledge behind Suncorp, you would know that they are one of the biggest financial companies in Australia. Being able to take on them for your insurance needs can definitely give a peace of mind knowing that they will have good back up. No doubt this is one factor that has contributed to their popularity.

But the further step that Suncorp had taken is by letting Bingle be a pure online insurer. This means overhead expenses like branches, buildings, some documents and utilities can be wiped from their expenditures, leading to lower quotes to the customer. And because there is an internet website for customers to manage their own policies, there is no need to have staff process a majority of forms.

Doing a bit of research it is stated on their website that a quote starts at only $1.55 a day. This gave a price that was almost half price compared to other insurers like Coles, NRMA, Allianz and Budget Direct.

Other than that, another bonus that Bingle offers is rewarding claim-free drivers. This means for those that have not made any claims will be able to enjoy further discounts on their premiums.

For more information about Bingle, please check out our Bingle Insurance review where you can read further information about the types of policies they offer.

How To Check You Have the Right Insurance Cover

If you’re a safe driver with a good, no claims history, then paying for car insurance can seem like a complete waste of money. After all, you’re not actually getting anything in return for all your hard earned cash are you?

However, as anyone who has ever been involved in a car accident will tell you, the importance of having the right insurance policy with a good insurance provider should not be underestimated. If and when you do need them, knowing you will be well looked after and protected provides peace of mind and can help turn a terrible situation into something more positive and bearable. In that case, a good policy is priceless.

But how do you know what cover you need and what other information should you be aware of to make sure you are getting the very best deal?  Car insurance from Captain Compare, or another online car insurance comparison site helps to take some of the legwork out of searching for good deals, but you need to know what you’re looking for in the first place.

Here is our guide to the various different types of car insurance that should help you make the right choice:

Compulsory Third Party Insurance (CTP)

Compulsory Third Party Insurance (or Greenslip as it’s better known as in NSW) is the very minimum insurance cover you can legally have and it applies to all states in Australia. It protects vehicle owners and drivers who are legally liable for personal injuries caused to:

  • Your passengers
  • Other road users such as; drivers, pedestrians, cyclists and motorcyclists

It also covers you for injury caused through the use of a trailer.

In most states CTP is included when you register your vehicle.  However, in QLD and NSW you have the option of choosing your insurance provider.

CTP does NOT cover you for any damage to your vehicle or anyone else’s vehicle.  Damage to property is also excluded from this type of policy.

Third Party Property Damage

Typically, this will be the most inexpensive type of cover you can buy, and is the minimum non-compulsory policy after CTP.

It will cover you in the event of damage caused by your vehicle to other people’s vehicle or property.

Third Party Fire and Theft

In addition to all the cover provided by Third Party Property Damage, this type of policy also covers you against theft or fire damage to your car. A maximum level of cover will usually apply, so check the small print for details.

Comprehensive Car Insurance

This is an insurance providers highest level of cover, and will offer you the most features and benefits of any policy.  Comprehensive cover covers the cost of repairing damage to both your vehicle and others, in addition to protecting you against theft or loss.

Additional benefits usually include a hire vehicle, towing after an accident, emergency repairs, and much more.  Carefully check what each insurer is offering you, and decide what would be of most benefit if the worst were to happen. Although it is important to find a good deal, it’s more important to choose the policy with the best cover for your money. Cheap isn’t always cheerful!

Reasons Why Student Loan Can’t be filed for Bankruptcy

When it comes to student loans, you need to be very cautious and before you even jump the gun; you must first draw up a definitive plan that will help you repay the loan effectively. This does not imply that failure to do so will result in grave issues. However, you will face certain financial issues that you must not face at a young age. Essentially, if you take a student loan, the period for which you repay the amount may increase over time in case of your inability to repay the loan. At the most you are allowed debt settlement but filing for bankruptcy is not a benefit that you can avail of. Emachines settlement is fast gaining popularity but it does not change the rules for student loans. You can, however, opt for the Chapter 13 of bankruptcy instead. As per this chapter, the amount that you pay on a monthly basis can either be brought down to a lower amount as in the case of debt settlement or the creditors may permit a slight amount of delay in the repayment process.

There are certain debts that are non-dischargeable and student loans can be effectively categorised under this. Filing for bankruptcy in case of student loans is possible however, this holds true only in very extreme situations wherein the student has suffered a severe accident leaving him disabled or a grave situation of similar magnitude. However, this does not usually happen and is a situation that occurs in extreme rarity. Therefore, you must be clear of the fact that at some point or the other you will be required to pay off your student loan.

As in the case of medical bills or those pertaining to credit cards, a student loan is always classified as a non priority unsecured debt. Therefore, based on the guidelines set by the repayment plan of Chapter 13, you need not pay off the full amount of the loan if you face financial difficulties. The repayment plan is then decided based on the incomes that you earn and the expenses that you incur. Based on the term of your chapter 13 bankruptcy, you will be given some amount of liberty in repayment in terms of the time and amount. However, once this period is over, you will be required to pay the remaining amount in full. Emachines settlement is also an option that people can avail of. Given below are some benefits of filing for the Chapter 13 of bankruptcy.

1.)   Once you file for the chapter 13 bankruptcy, you automatically get safeguarded from creditors and they are not allowed to call, harass or trouble you with incessant phone calls for loan repayment. This helps control the situation and prevents you from going into panic mode. Therefore, it leaves you with ample time to devise a strategy to repay the loans without the creditors breathing down on your neck. You can buy time of up to 5 years to fight off the creditors. However, this time period may vary for different people.

 

2.)   Because of the benefit provided by the automatic stay of chapter 13 bankruptcy, you are permitted to not make any repayment for your student loan for the given time period of the bankruptcy. This is solely dependent on the income that you earn during this period. However, this is only limited to the period of bankruptcy. You must not forget the fact that the longer you delay, greater will be the interest that will keep piling up during this period, which you will be required to pay in full. Therefore, you need to be very cautious especially when dealing with student loans.

 

Author’s bio:

Millicent Greer is a debt settlement lawyer who has previously dealt with emachines settlement. She offers her services for a wide spectrum of debt related issues including settlement, bankruptcy and even mortgage. She also loves baking and runs a food blog. To know more visit http://debt-settlement-review.toptenreviews.com/