Finding the cheapest car insurance for you will depend on your personal circumstances and the level of cover you're after. Our experts have chosen a bunch of picks that will be great for a range of people, but these should only be used as a guide. You should always read the product disclosure statement (PDS) to know which car insurance is a good fit for you and your budget.
Every month, we ask hundreds of Australians what they're paying for car insurance. To show you how age impacts the cost of your monthly premium, we've broken these numbers down by generation. Here's what their bill looked like in February 2026.
Baby boomers: $105
Gen X: $120
Gen Y: $201
Gen Z: $185
Price based on 500+ responses about their monthly premium in February 2026.
While traditional insurers like NRMA and Suncorp maintain large repair networks, low cost challengers such as Bingle, ROLLiN' and ALDI Insurance often provide lower premiums by operating primarily online and offering fewer automatic inclusions. Bingle, for instance, focuses on "no frills" cover for safe drivers, whereas ALDI Insurance leverages its retail brand to offer competitive pricing for standard vehicles. Youi distinguishes itself by providing tailored premiums based on specific driving habits, which can lead to lower costs for low mileage drivers compared to traditional flat rate providers. (Source: Choice and Canstar 2026)
Cheap car insurance
Comprehensive car insurance is the only level of cover that protects your car as well as others. Prices start from around $1,116 per year, according to Finder research. Below is a list of the top 5 cheapest car insurance policies, per that research.
The providers listed in the table below were the top 5 cheapest of the providers we researched and reflect the estimated annual cost based on the profile used. Keep in mind, your own cost will vary depending on your personal circumstances and it's always best to compare a range of providers.
We currently don't have that product, but here are others to consider:
How we picked these
To determine these insurance costs, we sourced comprehensive car insurance quotes for a 30-year-old male driver living in postcode 2011 (NSW). The profile used for these quotes assumes a 2020 Toyota Corolla Ascent Sport Direct Shift CVT with an annual mileage of 15,000km. We selected an excess as close to $850 as possible across all providers to ensure a fair comparison. These quotes were obtained in March 2026.
We currently don't have that product, but here are others to consider:
How we picked these
To determine these insurance costs, we sourced comprehensive car insurance quotes for a 30-year-old male driver living in postcode 4005 (QLD). The profile used for these quotes assumes a 2020 Toyota Corolla Ascent Sport Direct Shift CVT with an annual mileage of 15,000km. We selected an excess as close to $850 as possible across all providers to ensure a fair comparison. These quotes were obtained in March 2026.
We currently don't have that product, but here are others to consider:
How we picked these
To determine these insurance costs, we sourced comprehensive car insurance quotes for a 30-year-old male driver living in postcode 3006 (VIC). The profile used for these quotes assumes a 2020 Toyota Corolla Ascent Sport Direct Shift CVT with an annual mileage of 15,000km. We selected an excess as close to $850 as possible across all providers to ensure a fair comparison. These quotes were obtained in March 2026.
Tips for finding cheap car insurance
Compare online. Loyalty doesn't pay with car insurance – the best value policy today might be more expensive when it renews next year. Shop around and you could save hundreds of dollars.
Restrict drivers. Choosing not to let drivers under 25 drive your car can lead to a premium saving.
Choose a higher excess. You'll have to pay more upfront to make a claim, but taking a higher excess will lower your regular premiums.
Pay annually. Some car insurers offer discounts if you're able to pay your annual premium upfront rather than in monthly instalments.
"When I got my renewal notice, my car insurance premium was due to increase by 21%. I got quotes from 5 other providers and then called my existing provider to let them know I was thinking of switching. They immediately knocked about $200 off the renewal cost and became the cheapest provider of those I'd researched. Not only did I get a cheaper deal, I got to stay with the insurer of my preference and didn't have to compromise on any features."
Peta Taylor
Associate publisher
Guide to insurance types
Choosing the right level of cover is essential for balancing cost and protection. The following hierarchy outlines the three main types of voluntary car insurance available in Australia:
1. Comprehensive Insurance: This is the highest level of cover. It protects your car against accidental damage, theft, fire, and weather events, while also covering your legal liability for damage you cause to other people's property (usually up to $20 million).
2. Third Party Fire and Theft: This mid level option provides the same legal liability protection as the basic tier but adds cover for your own vehicle if it is stolen or damaged by fire.
3. Third Party Property Damage: This is generally the most affordable option. It only covers the damage you cause to other people's cars or property. It does not cover repairs to your own car if you are at fault in an accident (Source: Moneysmart 2026).
Technical terminology guide
Understanding industry terms can help you avoid unexpected costs at claim time:
Market Value vs Agreed Value: Market value is what your car is worth on the open market at the time of the claim, whereas agreed value is a fixed sum you and the insurer set when the policy starts. Agreed value offers more certainty but usually requires a higher premium.
Voluntary Excess: This is an additional amount you agree to pay on top of your basic excess in exchange for a lower monthly or annual premium. It is a useful tool for safe drivers to reduce their ongoing costs.
No Claim Bonus Protection: Some insurers allow you to pay an extra fee to protect your rating. This ensures that one at fault accident does not automatically reduce your hard earned discount. (Source: iSelect and Allianz 2026).
Frequently asked questions about cheap car insurance
Generally, yes. If you buy a cheaper, more simple car insurance policy for your needs now, you can typically adjust it to include more thorough coverage later. Many comprehensive policies will allow you to add further coverage later as needed.
According to the 2025 Finder Awards, Bingle offers the cheapest comprehensive car insurance. Keep in mind, the cost of your policy will differ depending on your own circumstances and this should be used as a guide only.
Based on Finder's 2025 Awards research, Bingle, ALDI, and RoLLiN' offer some of the cheapest car insurance policies on average in Australia.
Younger drivers will generally pay more for car insurance than older drivers. That's because insurers see young drivers as being more likely to have an accident due to having less driving experience. This means, in an insurer's eyes, there's a higher likelihood of those under 25 having to make a claim on their policy.
Compulsory third party (CTP) car insurance generally costs between $430 and $750 per year but this will depend on the model and usage of your car.
CTP insurance, which is legally required to register a car in Australia, protects you from legal costs that result from injuries and deaths suffered on the road. It doesn't cover any kind of vehicle damage or damage to any other type of property.
A really good option for finding cheap cover is to compare a range of policies that offer rideshare insurance. Keep in mind that not all car insurance providers offer rideshare cover while some will only offer a rideshare extension on their comprehensive plans.
As with any car insurance, your ability to find the cheapest cover differs depending on things like your age, occupation, the vehicle you drive and the area you live in.
Yes, there are often online discounts available for new customers. You can view a range of car insurance discounts here.
Bingle keeps premiums low by operating online-only rather than having expensive bricks and mortar premises to interact with customers. They also offer limited extras, focusing on essential coverage to cut down costs.
Budget Direct and Bingle are known as being affordable insurers, and are often among the cheapest providers, particularly for younger drivers. They offer affordable third-party and comprehensive policies, but the range of coverage is generally more restrictive, which reduces their claim payouts. This allows them to charge lower premiums, while still turning a profit.
Gary Ross Hunter has over 6 years of expertise writing about insurance, including life, health, home, and car insurance. Having reviewed hundreds of product disclosure statements and published over 800 articles, he loves simplifying complex insurance topics for everyday readers. Gary has contributed to major outlets like Yahoo Finance, The Sydney Morning Herald, and news.com.au, and holds a Bachelor of Arts (Honours) in English Literature from the University of Glasgow, along with a Tier 2 General Advice certification, ensuring his work adheres to ASIC’s RG146 standards.
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Peta Taylor is a publisher at Finder, working across all of insurance. She's been analysing product disclosure statements and publishing articles for over 2 years. Peta is passionate about demystifying complex insurance products to help users make well educated decisions with confidence. Peta is part of Finder's insurance awards team and works alongside editorial and insights experts to bring users the best insurance products every year.
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Compare the latest car insurance discounts and deals to save further on your policy or access bonus offers. Discounts up to 25% for purchasing online
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Budget Direct Comprehensive
Youi Comprehensive
ROLLiN' Comprehensive
