When more than half of your entire day is spent on the road, ride-hailing, it is practically impossible to drive with full caution the entire time without being stressed. Even if you managed to, there is barely any guarantee that other drivers will follow the same.
Why do most drivers ignore the need for insurance?
The reason is simple, drivers often look for alternative safety measures and ways to avoid unsafe situations which, in fact, is appreciable. But not as a means to try and predict what a day at work holds.
18 million out of 20.1 million cars owned in Australia are covered by insurance, and although that statistically performs well, it means over 2 million cars are not insured besides the Compulsory Third Party (CTP) coverage.
Why get another insurance when I already have the mandatory Compulsory Third Party insurance?
CTP insurance does not cover your vehicle from any damage on or off road. It only covers your liability if you accidentally cause an unsafe situation involving another driver or pedestrian. It’s typically paid for when you renew your registration.
In what ways does Comprehensive car insurance differ from other car insurance types?
Why choose comprehensive coverage over insurance covers?
Comprehensive insurance packages may -
- Extend beyond covering only the damages caused by accident
- Cover for the cost of repairs required after any accidental situation that was not caused by other vehicle or persons
- Cover for cost of repair caused by weather or other natural disturbances
- Some insurers, upon conditions, may also provide a rental car for a period of time perhaps because your own car is under repair or unavailable
However it may not be possible for the coverage to be extended over -
- Avoidable cases of damage or loss like using the wrong fuel, modifying your car beyond being road-worthy, losing your car to theft after parking on the roadside and leaving keys in the ignition
- Manufacturer issues like a faulty dashboard, windscreen wipers or even an engine problem that existed from the time of purchase
- General wear and tear like the fading of body paint, tire puncture, rusting and other age related deterioration
What to keep in mind when choosing comprehensive insurance?
There are several factors relating to your circumstances which affect the price, coverage and extension of the insurance policy, most importantly -
- your age
- how long you have had your driving licence
- if you've made previous insurance claims
- your vehicle's year, make and model
- where you park your car
- your excess
Parallelly, you should definitely decide after reading, in detail, the product disclosure statement.
Who comes to our mind?
As a community driven initiative, MyGigsters is careful with its partnerships, dedications and collaborations.
KOBA has emerged as one of the most innovative comprehensive insurers with more than just business on their mind. We are proud to be involved in researching and creating a specialised insurance system and product for the self-employed community, especially rideshare drivers who need to protect their car against possible damages.
It is not only about the passion we share for making an impactful change but also about working together to build a cost-effective insurance product that could provide coverage for both personal and business use.
Currently, KOBA only insures personal cars and excludes Ridesharing.
Their pay-per-km policy allows the insured individual to pay for what they use, whereby individuals can pay as little as 3c per kilometre they drive!
Special Insurance for Rideshare drivers
We are actively trying to curate an insurance product for rideshare drivers to protect their car alongside giving them some exclusive benefits for the profession they pursue.
Our partnership with KOBA will help us run surveys, events and conversations with the rideshare community to effectively understand and work towards solving related problems.
We look forward to your participation in making the initiative a success. Take a step forward and impact the future like never before, let’s change the narrative together, all gig workers deserve the safety and convenience of insurance.
Join the movement for a smarter, safer and better work environment!
MyGigsters is not accountable for any decisions taken by the reader in lieu of the information provided in the blog. It is only for informative purposes and MyGigsters is in no way (yet) involved in delivery of insurance products.
KOBA insurance is issued by KOBA Insurance Pty Ltd, ABN 33 642 789 286 | AR 001288655 (KOBA), on behalf of the insurer, Eric Insurance Limited ABN 18 009 129 793 | AFSL 238279 (eric). KOBA acts as an agent of eric and not on your behalf.
Any advice provided on this site is general advice only and does not take into account your individual needs, objectives or financial situation. Terms, limits, conditions and exclusions apply. Before making a decision, you should carefully read the Product Disclosure Statement & Financial Services Guide (PDS & FSG), and the Target Market Determination (TMD), which are available at kobainsurance.com.au to help you decide if the product is right for you. If you purchase a policy, KOBA receives a commission, which is a percentage of your premium, and may be entitled to a profit share if certain thresholds are met in agreed periods. Please ask us for more details.