Need car insurance in Victoria? Find out what you will need to get suitable cover.
Whether you're cruising along the Great Ocean Road or in Melbourne city, finding the right car insurance in Victoria is a must. Having peace of mind on the road goes far beyond just driving safely - it's also about protecting yourself against the unexpected.
There are three steps to finding the right car insurance in Victoria.
- Get Compulsory Third Party (CTP) insurance. In Victoria, each time you renew your car registration, or register a new vehicle, 12 months of CTP cover is built into the cost. As long as your vehicle is registered you don't need to worry about this.
- Choose your damage and liability cover. In addition to CTP cover, you need to choose the type of car damage and liability insurance that works for you.
- Compare and buy online. Once you’ve found the right policy, compare it to other options and buy online. Your car is now fully insured, and you’re good to go.
Compare comprehensive policies from Australian brands for VIC
What types of car insurance can I get in Victoria?
CTP is included whenever you register a vehicle in Victoria, or renew the registration. It protects you from the cost of medical expenses incurred by accidents, but not the cost of the damage to other cars or property. This is where the other types of car insurance come in. Select a cover option that strikes a suitable balance between cost and protection.
| Third party property | Third party property, fire and theft | Comprehensive | |
|---|---|---|---|
| Personal liability | Yes | Yes | Yes |
| Protection for your car | No | Cover for fire damage and theft | Comprehensive protection from many forms of damage |
- Personal liability: Personal liability expenses result from damage to cars or other property in an accident. Any type of car insurance with personal liability cover will include cover for this.
- Protection for your car: Different policies will deliver various levels of protection. Third party property will cover personal liability expenses, while third party property with fire and theft will also cover you from costs associated with vehicle fires or theft. Comprehensive cover, meanwhile, delivers a wide range of protection from a number of different hazards that might befall your car.
How much does car insurance cost in Victoria?
Car insurance in VIC is priced according to a similar range of factors as in the rest of Australia. The more likely you are to make a claim, the higher your premiums will be. This includes factors such as age, gender, how safe a driver you are and whether your type of car is more or less likely to be stolen than most.
- VIC has the second highest average car insurance prices in Australia, just behind New South Wales.
Rounded average annual cost of comprehensive car insurance, for recent model cars, in VIC
| Under 25 | 25 to 29 | 30 to 44 | 45+ | |
|---|---|---|---|---|
| Annual premiums | $2,300 | $1,150 | $850 | $760 |
- Stamp duty: Different financial services are taxed at different levels around Australia. In Melbourne and the rest of Victoria alike, the stamp duty tax is 10% of premiums paid, which is typically added to the cost.
What affects the cost of car insurance in Melbourne and other parts of Victoria?
The cost of car insurance is dependent on a wide range of factors, including:
- The make and model of your car
- The type of car insurance policy you choose
- Your age and gender
- Your location
Generally, your premiums are a reflection of the risk levels in your area. In Melbourne, for example, you're probably more at risk of other drivers than you would be in rural Victoria. Conversely, you might be more likely to hit a kangaroo in the latter.
Other drivers can also be hazards, and drivers in Victoria might be particularly prone to risky behaviour behind the wheel compared to those in other states.
Different insurers assess risks in different ways, so it can pay to shop around and get quotes from a range of different insurers to make sure you've found cover that works for you. The cheapest car insurance in Melbourne might be with a different insurer than the cheapest car insurance in regional VIC, and different individuals are also likely to get different quotes from assorted providers.
Getting car insurance quotes is generally the easiest way to find out how much car insurance will cost for you. A good first step might be to consider whether you can use some of the more specialised types of car insurance.
How to find cheaper car insurance in VIC
In Melbourne and beyond, there are a similar range of steps you can take that might help lower the cost of your car insurance.
- Reconsider your cover needs. If you have an old or beat-up car, it might not need comprehensive cover.
- Look for online discounts. Simply by buying online you can find significantly cheaper car insurance.
- Increase your excess. A higher excess can significantly reduce your car insurance premiums.
- Check your car insurance options. There are a range of options to choose form, such as excess-free windscreen and glass replacements. They might raise costs however, so you may want to look for cover that doesn't automatically include it.
- Shop around. If your car insurance premiums are increasing, there might be a better option somewhere else. It might be worth switching car insurance instead of renewing.
What car insurers can I access in Victoria?
The finder.com.au car insurance panel lets you compare options from some of the nation’s top insurers, including:
Australia Post
Australia Post
Australia Post delivers flexible car insurance that combines protection and affordability. With Australia Post, you can find value-adding extras suitable to specific policy types, such as free trailer cover with comprehensive policies, or cover for the cost of a rental vehicle hire following theft with fire and theft policies.
Thanks to bundled extras, Australia Post car insurance may be the right option for individuals that want to get a bit more value for their money out of the right policy.
QBE
QBE
Whether you prefer to have comprehensive car insurance but hope to never make a claim, or are one of those people who tries to maximise value from all policy types, QBE may be a suitable option for you with options like excess free windscreen and glass protection and protection for your no-claims bonus. All of QBE car insurance policies let you choose your own repairer to make sure you can access the service you need. Comprehensive policies include cover for vehicle tools and personal effects as well as other benefits.
If you want a highly tailored policy, QBE may be the option for you.
Budget Direct
Budget Direct
Budget Direct has a reputation for value for money in car insurance, largely thanks to maintaining eligibility requirements. By only insuring safer drivers, Budget Direct keeps costs down and can pass the savings on.
For safe drivers, or those who want to opt out of many unwanted extras, Budget Direct car insurance policies might offer you lower prices for equivalent cover.
Youi
Youi
Customisability is one of the main areas of focus for Youi. This insurer strives to offer more value and less hassle by making policies simple and easy to customise that can make a significant difference to price and cover. Opt out of the unwanted features and pick the ones you can benefit from to find a policy that’s built for you.
Youi car insurance can deliver additional options for those who want them, while more budget-conscious buyers can save money by opting out of extras.
Dodo
Dodo
Simple prices, simple policies and high quality customer service are good qualities to find in an insurer, and ones that Dodo strives to offer. All of Dodo’s car insurance policies carefully match features to a price range, letting you find suitable policies quickly and without necessarily needing to tailor them to the same extent as other providers.
For those who appreciate simplicity and affordability, as well as a useful, but not overwhelming, level of customisability, Dodo car insurance might be the right option.
Woolworths
Woolworths
Woolworths matches competitor prices and also offers bonus features such as discounts for eligible customers to help the right person get more value for money out of their car insurance. With Woolworths, you can customise not only your cover, but also your discounts.
If you’re ready to manage your policy closely and hunt for discounts, you might be able to find more benefits with Woolworths.
Virgin Money
Virgin Money
With two different comprehensive car insurance policies, Virgin Money has varied options to better suit more people, meaning it’s easier to find the line between affordability and effective cover. In addition to this, existing Virgin customers may be able to access more rewards and other bonuses by holding policies with Virgin Money.
If you want comprehensive car insurance but don’t want to pay for all the extras it usually comes with, or are an existing Virgin customer on the lookout for more discounts, it may be worth considering Virgin Money’s car insurance.
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I’m looking at buying comprehensive car insurance for my 23yo daughter – car previously insured in my name – I’m finding the quotes from Bingle to be $200-$400 cheaper that other insurance companies.
Am I missing something or are they really that much cheaper?
Hi Peter,
Thanks for reaching out to us. Please note that we are not affiliated with any company we feature on our site and so we can only offer you general advice.
You can check these pages also for helpful information and you may compare your options:
Comprehensive Car Insurance
Car Insurance Finder
Please click the name of your preferred insurance to find out the details. You may then click the green “Get Quote” button to direct you to their official site and get a quote from them.
Hope this information helped.
Best regards,
Rench
Hi,
I think you misunderstood my question. I have done all the comparisons and obtained quotes and as best as i can, i have tried to apply the same criteria to each quote. They are all much the same price, between $1100 and $1400 with the exception of Bingle. The Bingle quote, depending in the variable excess, is around $830 – $950, roughly $200-$400 cheaper than the others.
I have been through the pds for Bingle and it appears to be no different to the other companies so i was wondering, with your experience, whether you know of any reason why Bingle is substantially cheaper?
Thanks,
Peter
Hi Peter,
Thank you for clarifying that.
I understand. Bingle car insurance is issued by AAI Limited, which is part of the Suncorp Group. They are one of the company car insurances that we feature on our site. There is no need to worry. The fact that they are cheaper than others, that is one of their plus points to car insurance seekers. You may check more info on these page reviews:
Bingle Car Insurance
Bingle Comprehensive Car Insurance
Please click on the green ‘Get Quote’ button to get in contact with them and it will direct you to their official site.
Best regards,
Rench
I love all the options displayed but looking for comprehensive with road side assistance in all states. Can I have this as an add on option?
Hi Mandy,
finder.com.au is a comparison and information service and not actually an insurer.
The table on our comprehensive car insurance page lists some of the insurers in our panel who provide cover for 24/7 roadside assistance.
All the best,
Zubair