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 car insurance policies for Victoria
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|
|Protection for your car|
- 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.
We analysed quotes from 38 car insurance companies and found the average cost for a comprehensive car insurance policy in Victoria for 4 personas .
|Persona||Average Cost/Year||Cheapest Price We Found|
|24 Year Old Male||$1,332||$782: Virgin Money||Get quote|
|35 Year Old Male||$988||$615: Bingle||Get quote|
|46 Year Old Female||$878||$549: Bingle||Get quote|
|70 Year Old Female||$841||$479: Bingle||Get quote|
We also analysed how costs for insurance fare in Victoria in comparison to other states. Unfortunately, it's on the higher end of the spectrum. To make sure you're not getting ripped off, compare quotes from a bunch of providers and don't be afraid to switch.
|State||Average Monthly Cost|
|New South Wales||$160.54|
- 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.
According to the National Motor Vehicle Theft Reduction Council (NMVTRC), motorists in Victoria are most likely to experience car crime than any other area. 29% of national total car thefts occur in Victoria.
There were 15,332 vehicles stolen in 2017. Compared with 2016, the number of thefts decreased 22% but remains 25% above 2013 levels. For every 1,000 cars registered, three will be stolen. Police recovered 70% of the stolen vehicles.
The top five crime areas are
- Hume City (944)
- Greater Geelong (831)
- Casey City (686)
- Darebin (674)
- Whittlesea (659)
The most stolen vehicles in the state are
- The Nissan Pulsar N15, production years 1995-2000.
- The Holden Commodore VE made between 2006 - 2013
- The 2000 - 2002 Holden Commodore VX.
Drivers should be particularly vigilant on Fridays from 16:00 to 19:59 as thieves stole 712 cars during this period.
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: