Compare Car Insurance

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, updated on February 15th, 2024       

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Car Insurance Banner

When it comes to finding the right car insurance, comparing policies and prices is essential. However, with so many options available, doing so can be time-consuming and confusing. That's where online comparison tools come in.

Using a comparison service, you can compare live and instant car insurance quotes from multiple providers in one place, helping you find the most suitable coverage for your needs and budget available. Get started today and see how much you could save on your car insurance.

How do I compare car insurance policies in Australia?

There’s a wide range of car insurance features which are important to consider when comparing different policies to help you find the best one for your needs. Some of the key aspects to think about when comparing car insurance are:

  • Cost of premiums: the amount you’ll pay for your insurance policy is one of the most crucial areas to compare. Comparing the cost of premiums across different insurance providers can help you determine which is the best deal for your needs in terms of price while still offering you suitable coverage.
  • Coverage: it’s essential to compare the coverage offered by different insurance providers so you can be surer about what your policy covers. This can help you narrow down the most appropriate policy for your situation.
  • Exclusions: just as important as knowing what’s covered under your policy is knowing what isn’t. It’s crucial to read the fine print and understand what’s excluded from your policy so you’re aware of any omissions from your coverage when you go to make a claim.
  • Excess: a car insurance excess is the amount you’ll have to pay out of pocket before your insurance policy kicks in. It’s worth comparing the excesses charged by different insurance to help you find one which fits your needs and budget.
  • Discounts and bonuses: insurance providers may offer discounts and bonuses that can help you save money on your premiums. For example, some may include a sign-up discount when you buy your policy, while many insurers offer a no-claim bonus which can reduce the cost of your insurance the longer you go without a claim.
  • Optional extras: there are several additional features which may be able to be added to your policy for an extra cost, such as roadside assistance, rental car coverage and windscreen protection. It’s important to consider whether these optional extras are necessary for your needs and compare the cost of adding them to your policy across different insurance providers.

What factors can impact the cost of my car insurance?

The calculation for your health insurance premium isn’t necessarily a simple one, as there are many variables which are considered as part of this equation. The main factors which can impact your car insurance’s cost include:

  • Age: younger drivers tend to have higher premiums due to their lack of experience on the road.
  • Driving record: drivers with a history of accidents or traffic violations are considered higher risk and may have to pay more for insurance.
  • Location: your insurance premiums can vary depending on where you live due to factors such as crime rates, the likelihood of accidents and weather events. Northern Queensland or the Northern Territory may have different costs compared to the southern parts of the country as a result.
  • Type of vehicle: cars which are more expensive to repair or replace may have higher premiums than those which are more common or with replacement parts which are easily accessible and affordable.
  • Coverage level: the more coverage you have, the higher your premium is likely to be. For instance, a comprehensive policy will be more expensive than a TPPD policy.
  • Excess: choosing a higher excess can lower your premium, but it also means you'll have to pay more out of pocket if you need to make a claim.
  • Payment frequency: paying your premium annually rather than monthly may result in a lower overall cost.
  • Optional extras: if you’ve added multiple extras to your policy, this is likely to raise the cost of your insurance overall.
  • Your time on the road: the more you drive, the greater the chances of an accident on the road (in theory) and the more you’ll likely have to pay for your insurance as a result.

Types of car insurance you can choose from

Top tips for comparing and choosing the best car insurance

Shop around and compare policies

Take the time to compare policies from different providers and make sure you understand what each policy can offer you. This will help you find the right level of coverage for your needs at a competitive price. 

Consider your individual needs

Think about what you need from your car insurance policy. If you have an expensive car or are on the road often, you may be looking for a comprehensive policy with additional features. It’s also important to think about your budget and what policy you can most comfortably afford.

Understand the policy's inclusions and exclusions

Make sure you read the policy carefully and understand what is included and excluded. Pay attention to the excess amount and any optional extras you may need to add on to secure the coverage you’re looking for. This will help you avoid any surprises if you need to make a claim in the future.

Think about where you live

Your living arrangements should factor into your thinking also. If you live in an area prone to extreme weather such as flooding, cyclones and storms, you may want coverage which includes protection for your vehicle. This may also be the case if your area has a higher crime rate, especially if you’re parking on the road.

Frequently asked questions about comparing car insurance

Can I switch car insurance providers if I find a better policy?

Yes – you can switch car insurance providers if you find a better policy. It’s important to read the terms and conditions of your current policy before cancelling to determine whether you’re subject to any cancellation fees or penalties. If you’ve paid your premiums in advance, you may be able to receive a partial refund for the portion of your coverage you’re missing out on (though this will depend on your insurer).

How often should I compare car insurance policies?

Car insurance experts generally recommended that you compare car insurance policies at least once a year to ensure you’re getting the best deal available to you. You should also compare policies whenever your circumstances change, such as when you buy a new car or move to a new location.

Should I choose the cheapest car insurance?

Whether the cheapest car insurance is best for you will depend entirely on what you’re looking for out of your car insurance in terms of coverage. It’s important to consider the coverage, excess and optional extras of each policy when comparing and choosing car insurance in addition to its cost.

How do I compare market and agreed value?

Market value and agreed value are ways of determining the amount you can be paid by your insurer when your car is stolen or written off. Market value is the amount your car is worth on the open market, while agreed value is the amount you and your insurer agree your car is worth at the time of taking out the policy. Because agreed value coverage can give you a greater payment, the cost of insurance may be greater than if you chose market value coverage.

Can car insurance cover maintenance costs for my vehicle?

No – car insurance doesn’t cover maintenance costs for your vehicle. It’s your responsibility as the owner of the car to maintain your vehicle and keep it in good condition.

How do I make a claim on my car insurance policy?

The exact claims process may differ slightly between insurers, but to make a claim on your car insurance policy, you should contact them as soon as possible and provide them with all the necessary information, such as the details of the accident or incident. You may have to fill out a form, after which they may be able to guide you through the claims process and advise you on the next steps to be taken.

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Disclaimer:

Savvy (ABN 78 660 493 194, ACR 541 339) provides readers with a variety of car insurance policies to compare. Savvy earns a commission from our partnered insurers each time a customer buys a car insurance policy via our website. All purchases are conducted via our partners’ websites. The integrity of our comparison service is unaffected by our partnerships with those businesses and our effort remains to bring further brands that do not already use our comparison service onboard.

Savvy’s comparison service includes selected products from a panel of trusted insurers and does not compare all products in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy. We always recommend readers to consult the Product Disclosure Statement (PDS) of different policies before purchasing your car insurance.