Welcome to the January issue of Lendcorp News.

In this Issue

	Introduction
	A Worthy Word
	How to Save on Insurance Premiums
	Insurance - Value V's Price
	CTP Insurance and "Driver Protect".
	The First Motor Vehicles in Queensland

In Other News

ASICS tips on Insurance  What to consider

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Introduction

WELCOME to January 2009 edition of 'Lendcorp Finance News'.

In this months issue we have some tips on "how to save on Insurance Premiums" .

And

Have you ever wondered when the First Motor Vehicles came to Queensland?

We hope you find the articles covered interesting and if you would like any other issues covered, please drop us a line at sales@lendcorpfinance.com.au.

Kind regards

The Lendcorp Team

A Worthy Word

" Word of Mouth"  is the best from of advertising.

People that are pleased with great service, a good product or value for money like to "spread the news" to friends and/or colleagues.

We would like to say "Thank you" to all our satisfied clients, accountants, financial planners, solicitors and motor dealers for all your referrals, we greatly appreciate your endorsement and ask that you "Keep Spreading the Word".

How to Save on Insurance Premiums

As we are all trying to find ways to decrease the amount of our monthly expenses particularly now where we have to do some belt-tightening, we have listed below some pointers on how you can save on Insurance Premiums and keep some dollars in your pocket.

• Compare Rates - Shopping around can save money.   Contacting various insurance companies either by phone or by internet will pay off.  You will also find some companies offer discounted rates when shopping online.  Alternatively, if you don't want to do the ground work yourself a good broker should be able to do the work for you and help you understand the differences between policies.  Unlike an agent who sells policies from a single insurance company, an insurance broker has a choice of many companies.
   
• Increase Excess - Most financial experts agree that by increasing your excess or deductible on  your insurance policy is a good strategy. The higher the excess on your policy, the lower the premium. An insurance policy’s premium is the amount you pay to keep the policy in force.  Many policies have a standard excess of  $400. Experts say that by increasing this deductible to $1000, you can usually save up to 10 percent on your premiums. 
   
• Bundle Premiums - By carrying all or most of your policies through one insurance company you will save some money. The more policies the better discount, this also includes insurances you may not have thought about like CTP and/or insurances you have on your investment properties.  Statistics show that customers are usually more satisfied when bundling insurance, and are more likely to renew their policies at a rate higher than those that utilise separate companies for their insurance needs. Furthermore, by going with just one company, you'll be more acquainted with their rules and operations.
   
• Staying with the same Insurer - Lower premiums and special discounts or benefits are usually awarded to clients that are loyal to Insurance Companies.  Being a valued client who has remained risk-free is of great benefit to you.
   
• Remove Risk - Installing theft deterrent systems, fire alarms, fire  extinguishers, burglar alarms, smoke detectors, sprinkler systems and other options that will result in less risk will lower premiums.  A lot of companies reward customers who relieve some of the risks involved.
   
• Paying Up Front - Be aware that some Insurance Companies add a surcharge if you opt to pay monthly.  Savings can be made by paying up front.

Insurance - Value V's Price

What value are you getting out of your Insurance?

Although price plays a very important part in the decision making,  what else do you need to consider?

• Exactly what is covered, why is there a price difference, what are the comparisons?
• Is there a simple claims procedure?
• Do they have  24 hour customer service available to make a claim?
• Are they the insurer or an agent?
• Who are the underwriters?
• Are they a large well known company, who after a disaster have the facilities to repair or replace the damaged items?
• How much will the policy pay?

CTP Insurance and "Driver Protect".

Compulsory Third Party Insurance (CTP) is a condition of your Motor Vehicle Registration in Queensland and is compulsory.

CTP provides compensation to people injured in a motor vehicle accident caused by a negligent driver. This includes other drivers, passengers (in your car and other vehicles), pedestrians, cyclists and motorcyclists – basically anybody hurt as a result of the accident, except for the driver at fault.

Up until just recently driver's (at fault) were not covered, "Driver Protect" is a new add-on that a lot of the bigger companies are now offering in their policies. So when the time comes "Driver Protect" may be an option you might like to consider.

CTP Insurance is paid when your vehicle registration is renewed.  It is not compulsory to stay with the original insurer, you have the option to nominate who you would like to look after your CTP insurance. 

Transferring your CTP to another insurer is simple,  by completing a form obtained from either Queensland Transport or your Insurer it will automatically be transferred.

The First Motor Vehicles in Queensland

The first petrol-driven motor car arrived in Brisbane in 1902. 

Motor vehicles were quite rare until after First World War (1914-1918).  By 1922 there were 13,800 registered vehicles and by 1930 there were more than 90,000. 

With the increase of vehicles it meant that more and better roads were required.

In 1920 The Main Roads Board was set up to oversee vehicle registration, improve road design and set limits on vehicle size and speed.

Queensland's first major roads, which includes the Bruce Highway were built during the 1930's.

That's all for this month's edition. 

In closing, we hope you have enjoyed this newsletter and look forward to your  feedback.

 

from the Team at  Lendcorp Finance

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