A car accident can change everything in the blink of an eye. From injuries to damage to your vehicle, a potential crash is as good a reason as any to find the right auto insurance policy for you. However, the car insurance marketplace is filled with more options than ever. Here are a few tips to keep in mind as you go hunting for the right insurance policy to suit your driving needs, and maybe those in your household.

1. Remember, there's a minimum in insurance coverage

As you look through a litany of auto insurance quotes, you have to remember that there is a legal minimum to allow you on the road. Compulsory-third party insurance, or CTP, is required across Australia to get behind the wheel.

This auto policy, also referred to as green slip, protects drivers from being financially liable if they injure themselves or others on the road. In New South Wales, CTP insurance can be purchased through a variety of insurance providers. In other states, it's included as part of a vehicle registration fee.

As a vehicle owner or someone under a car insurance policy, it's important to know that a green slip does not cover any damage done to property or vehicles under a claim. Be sure to consult with an underwriter at the time of purchase to understand the full depths of your protection under a compulsory third-party plan.

2. Don't "over-insure" yourself

It's important to have an understanding of your driving habits, as well as the habits of others who will be under your auto insurance policy. There's no need to purchase an extensive amount of coverage if you aren't spending all that much time on the route.

Consider how often you're on the road, and where you're traveling to before typing "car insurance NSW" into a search engine. This will help you get a better understanding of insurance premiums. policy limits, and deductibles as they correlate to the coverage you and those under your policy need.

Beyond CTP insurance, you may want to consider third-party property damage car insurance. This type of policy can cover the damage done to other people's cars or property caused by you in an accident. Keep in mind, this doesn't cover your vehicle or your property.

For some peace of mind there, you'll want to look into comprehensive insurance coverage. This is usually the highest level of protection you can purchase. It includes collision coverage for your own vehicle in the event of accident damage and fire and theft. It will also cover other people's vehicles and property when a claim is filed.

3. Be on the lookout for discounts

As a policyholder, you not only want to find coverage that provides the right protection for your vehicle, but you also don't want to break the bank for that plan. There is a litany of discounts out there for drivers to cash in on. One of the most common ways to cash in on savings is through a safe driving discount. Many insurers reward drivers who avoid accidents and traffic violations and don't submit claims through their policy.

Higher-risk drivers, mainly teens and older people, can send insurance premiums skyrocketing. However, if your teen is getting good grades, some insurers will reward them with discounted policies. For senior drivers, discounts can be obtained by going through a defensive driving course.

Some car insurance companies also have offered through other lines of insurance and will provide savings for combining your auto insurance under an umbrella policy with personal insurance and homeowners insurance to name a few. In fact, something as simple as going paperless with your monthly invoice can score you some savings.