I would like to ask for some insight as I am not familiar with this topic. I have a mazda 3 year 2005, I am with RACQ and paying almost $70 per month for comprehensive car insurance.
I am wondering if I should drop to third party to save a bit and bring it down to about half the cost. In the case that I get into an accident and it's my fault, wouldn't the value of the car to be too low due to its age that it would be written off anyways rather than getting it repaired with the insurance?
Thank you for your time!
EDIT: From a comprehensive policy at $69.38 I went to a third party at $20.68 ($248.16 per year). I hope I won't start having accidents now …