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There's no reason to pay through the roof on your insurance if you don't need to. If you're trying to save cash, there's a bunch of car insurance options that might suit you.
You can opt for a bare bones third party policy, or if you want more cover, there's lots of budget insurers out there that might have what you're looking for. Whatever the reason, it's not hard to find cheap cover that works for you.
How did we get this list? This list is based on our 2019 Finder Awards research. We looked at 36 different types of drivers to get these costs. For this list we only looked at price - feature scores weren't taken into account. Our full methodology can be found here.
We got real quotes for 11 car insurance companies and found some huge differences in how much comprehensive car insurance costs per year across companies and states.
Our research says that the average cost of a comprehensive car insurance policy is $895.80 a year, or $74.60 a month.
But you can clearly see that costs can be quite different between providers, as well as what state you live in.
Toggle through to see how costs compare in your state.
These companies were chosen because they were either a partner brand or one of the most searched brands in Australia. These costs are based on a male born in 1988 driving a 2015 Toyota Corolla. They live in each states capital city, drives up to 15,000kms a year, and has an excess of $850. Prices were gathered in May 2019.
Bingle was found to be the cheapest company in 4 of the 6 states, only being beaten out by AAMI in New South Wales and Budget Direct in Queensland.
When we averaged all of the state costs together, we found that Budget Direct actually came out as the cheapest overall at $662 a year.
Based on our research, the cheapest state to get car insurance in is Queensland with an average of $752 a year.
The most expensive state to get insured in was Victoria, costing Aussie's an average of $1,150 a year.
When you're younger you'll pay noticeably more for car insurance as you're deemed to be a higher risk driver.
But our research says that these high prices thankfully don't last! As you get older, your cost should go down as long as you stay a safe driver.
We based the above figures on the average cost for a car insurance policy from Bingle. The average cost takes into account the prices from the 6 states. The driver shares the same criteria as the above - the only thing we changed was their age.
Based on our research of 6 companies, the average cost of a third party property damage policy is $32.50 a month.
This just covers the financial cost if you damage someone else's car or property.
Generally, newer model cars are less expensive to insure.
This is because they're often made by Australian manufacturers with an expansive network of approved mechanics and service locations, and also because they have inexpensive and widely available spare parts.
In addition, the least expensive cars to insure, particularly for young drivers, are generally the safer, less expensive and less powerful ones.
Based on our analysis of 14 vehicles, the cheapest 3 cars to insure were:
Since the cost of car insurance varies so much from person to person finding the cheapest car insurance in Australia is not as simple as looking at a list and sorting it from lowest to highest. However, there are certain ways that you can save and get cheap car insurance:
Third party property damage is normally the least expensive option if you're looking for the absolute cheapest car insurance. However, there are a couple of other options you might want to consider if you need higher cover.
Here's a breakdown of the cheapest car insurance policies and what they cover you for:
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Hi sir
I am looking for cheapest car insurance
Pls help me about that
Hi Leon,
Thank you for reaching out to Finder.
The insurers listed above are categorised as cheap car insurers so you may need to check who among them will work best for you. I’m afraid we may not be able to identify which of them offers the lowest rate as the insurance premium varies on the details that you will provide as you request for a quote. It may be good to click the Get Quote button above so you can start checking how each insurers charge based on your qualifications and the car that you own. There are also some deals available that you want to take advantage. You can click Get Deal for that.
Hope this helps.
Kind Regards,
Mai