Compare car insurance policies side-by-side
Switching can save you a hell of a lot of dough
If cost is one of your main priorities, switching car insurers could be one of the best ways to save on cash. Here's an example of how much price differs between insurers.
Types of car insurance
Comprehensive car insurance.
Comprehensive car insurance is that best mate that helps you out when you're in trouble. If you want top cover, this is the option for you. It's the only policy type that offers real, proper, actual cover for your car. So if you love and care for your baby, this is probably what you want to opt for. It covers theft, vandalism, storms, flood, hail, fire, key replacement, emergency accommodation, hire cars, accidental damage (to name a few) - plus everything that's covered by cheaper policies.
Best for: Those who want peace of mind, knowing that they have the highest cover available.
Third party property cover.
The most basic policy. This provides coverage for any damages you may cause to someone else's vehicle or property. This means that if you smash into a Mercedes, you won't be paying the repair costs from your own pocket. However, it won't cover the expense of repairing damages your vehicle incurs as a result.
Best for: Cheaper cars and those on a budget.
Third party fire and theft coverage.
This gives you that little bit extra cover against life's uncertainties. As the name suggests, this cover type ensures you are protected if your car is stolen, as well as covering you for fire damage. You're also covered if your car causes damage to someone else's property. But this type of policy won't really cover you if you're in an accident with another vehicle.
Best for: Those who need a bit more cover without the pricetag.
Compulsory third party insurance (CTP).
Commonly known as greenslip insurance, CTP is mandatory for every registered driver in Australia, and is included in your car rego in many states. If you crash into another driver and they have to go to the hospital for injuries, CTP will cover their hospital expenses. It won't cover your car or someone else's car.
Best for: Everyone - it's mandatory!
What does comprehensive cover protect me against?
How do other cover types compare?
|Damage to other people's property|
|Hitting a car|
|Hitting a pole|
|Hit and runs|
|Hitting an animal|
|Storm or flood|
|Emergency accommodation, transport and repairs|
|Replacement of keys|
|Contents inside the car|
|New car replacement|
Everything you need to know about car insurance (in under 3 minutes)
How much does car insurance cost?
Average insurance cost by state
|State||Average Monthly Cost|
|New South Wales||$160.54|
Insurance costs by car make and model
Find car insurance rates for car makes and models. Your car’s model and manufacture year is the #1 factor that determines your insurance costs. Just click on the car models you’re interested in below to get started.
7 hacks to cut your premiums
- Take advantage of discounts. Look around to see if you can get a loyalty discount or a deal for new customers. Some insurance providers will also provide you with a discount of up to 15% for taking out your policy online.
- Pay a higher excess. An excess is the amount you pay when you want to make a claim. If you increase this amount, your insurance company perceives you as less likely to make a claim. This helps bring down the cost of your overall premium.
- Restrict certain drivers. Most policies will give you a cheaper premium if you restrict certain drivers from taking your wheels for a spin. Consider restricting drivers like under 25s, seniors, learners, or P-Platers.
- Know how your vehicle make and model will affect your premiums. If you haven't purchased a car yet, compare insurance prices for a variety of car models. You might be surprised about how much the car you drive can affect how much car insurance costs you.
- Bundle your policies together. If you've already got home insurance, consider sticking with the same provider for your auto insurance. When you group multiple policies together you can benefit from a multi-policy discount which can take a significant chunk out of your car insurance premium.
- Keep a clean driving record. Obviously no one goes out of their way to get a fine. But if your driving record and the history of the claims you've lodged are used to determine how much of a risk you pose to the insurance company. The higher the risk level, the more you'll have to pay. Conversely, if you have a good driving record and haven't lodged many claims or none at all, there's a good chance you'll get a better deal on your premiums.
- Compare, compare, compare. It pays to do your research. Get multiple quotes from different insurers to compare prices. Don't be fooled by policies that are ridiculously cheap - this can sometimes compromise your cover. Don't be afraid to switch providers in order to get the best deal.
Is it time to switch insurers?
There are many reasons why you might want to ditch your current insurer; your circumstances might have changed, you might be getting charged a bucketload, or maybe you're just fed up with their customer service. We get it. If you're unhappy with them, there's no reason why you can't switch to another company.
There are a few times where you should actively consider switching your policy. If your circumstances have changed, chances are, your premiums could change too. Consider finding a new insurer when:
- Your policy comes up for renewal
- You change cars
- You move into another home
- The amount of drivers using your car changes
- You've just celebrated a birthday (especially your 25th birthday)
- Your driving record has changed
Why switching isn't that hard
So you've just figured out that you're being charged a motser for your car insurance. You're probably thinking about switching - and if you're not, maybe you should be.
There's a common misconception that switching car insurance is a huge hassle. In reality, it isn't actually as hard as you think it is.
Here's how to do it.
Step 1: Find a new car insurance policy
Before you abandon ship, it's a good idea to have another ship you can climb aboard. Compare car insurance policies side by side. Be sure to consider not just price, but also what features you need in a policy and how much cover you want - especially if you're opting for a comprehensive policy.
Step 2: Take out the new policy before you cancel your old one
When do you want to switch? Some people prefer to do it so they can benefit from discounts from their new company, others like to switch at the end of their payment period. If you're switching companies mid-policy, take note of cancellation fees. These will usually be about $30-$40, but it's important to double check. Ensure you've had a good read of your new Product Disclosure Statement (it's just some light reading). Before you cancel your old policy, make sure you've accepted your new policy and have the letter of confirmation from the insurer. This will prevent you being without cover while you switch over.
Step 3: Cancel your old policy.
Inform your old insurer in writing that you are cancelling your policy. Ensure that you get written confirmation that the policy has been cancelled. Aim for your new policy to start taking effect on the same day your old policy is cancelled.
Step 4: Profit!
Enjoy the benefits that come with switching to a better policy for you. Go out and buy yourself something nice.
Compare these car insurers
- Bingle Car Insurance: Save 24% on your policy if you've been claim free for 3 years. If you're unable to drive, get a rental car until your claim is settled.
- Budget Direct Car Insurance: Save 15% when you buy online. Access to Hail Hero so your car doesn't get stuck in a storm.
- Woolworths Car Insurance: Save 10% when you buy online. Price beat option for drivers aged over 25.
- Virgin Car Insurance: Save 15% when you buy online. Further discount if you have an approved security system.
Still not sure? Your questions about car insurance answered
Finding the right cover
Purchasing, renewing or cancelling your policy
What you will/won't be covered for
Get the latest car insurance news*Disclaimer: The offers compared on this page are chosen from a range of products finder.com.au has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms 'Best', 'Top', 'Cheap' including variations, are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.
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