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, updated on February 15th, 2024       

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Looking for the best car insurance offers in Australia? New deals provide great opportunities for drivers to secure reliable coverage at competitive prices. Whether you're a new driver, seeking additional discounts or simply looking to switch providers, exploring car insurance offers thoroughly can help you save money while getting the protection you need. With so many options out there, it's essential to compare and find the right offer tailored to your unique requirements.

What discounts and promotions are available with new car insurance offers?

When it comes to new car insurance offers, there are various discounts and promotions available that can help you save money and make your coverage more affordable. Insurance providers often offer a range of incentives to attract new customers and provide added value to their policies. Some common discounts and promotions you may come across include:

  • Promotional offers: insurance companies often run promotions, such as introductory discounts, cashback offers, or gift cards, to attract new customers. These promotions can provide immediate savings on your premiums, but may only be present for a short period.
  • Online or paperless discounts: some insurers offer discounts if you opt to buy your policy online, eliminating the need for paper documentation. These also tend to be short-term discounts.
  • Multi-policy discount: many insurers offer multi-policy discounts if you bundle your car insurance with other types of insurance, such as home or life insurance, or even with a multi-car insurance policy in some cases.
  • No-claim bonus: this discount is awarded to policyholders who haven’t made any claims during a specified period. The longer you go without making a claim, the higher your no-claim bonus becomes, resulting in lower premiums. Some insurers will allow you to carry your existing no-claim bonus over when switching policies, but this isn’t always the case, so it’s important to compare your options.
  • Safe driver discount: if you have a clean driving record without any recent or major accidents or traffic violations, you may be eligible for a reduced premium.
  • Vehicle safety features: cars equipped with safety features such as anti-lock brakes, alarms and anti-theft devices may also qualify for discounted premiums.

To make the most of these discounts and promotions, it's crucial to compare car insurance offers from different providers. Simply fill out an online form, providing details about your car and the type of cover you’re after and you’ll be able to see live offers and available promotions in one place.

How can I find the best car insurance offers in Australia?

The best car insurance policy will be different for each person. However, there are some factors to consider which can help you determine which policy offer may be the most suitable for your needs, which include:

  • Assess your needs: determine the level of coverage you require based on your car's value, your budget and your personal circumstances. This should help you determine whether to take out comprehensive coverage, third party property damage (TPPD) or third party fire and theft (TPFT) and if it’s time to make the switch.
  • Consider the offer available: think about the promotions or discounts on the offers you’re considering. Determine whether these will provide you with value for money; for instance, once your short-term discount runs out, will your policy be more expensive than another offer with no discount present?
  • Compare quotes: obtain and compare quotes from multiple insurance providers, comparing factors such as coverage, premiums, optional extras and available discounts or promotions.
  • Read policy details: carefully read the terms and conditions of each policy you’re considering. This can help understand more clearly what is and isn’t covered by your policy before you buy. Your policy documents and certificate of currency will provide you with information on what your current policy offers and how long it’s set to run for.
  • Consider excess options: review the excess options offered by different insurers. Consider the amount you’d be comfortable forking out in the event of a claim and how that may impact your premiums.
  • Check for additional benefits: look beyond the basic coverage and consider any additional benefits offered by insurers. These may include roadside assistance, rental car coverage or emergency accommodation, which can all be valuable if you find yourself in a bind.

Remember that the best car insurance offer for you may not solely be determined by price. It's essential to find a balance between coverage, premiums, and the reputation of the insurer. By following these steps and conducting thorough research, you can give yourself the best chance of finding the right policy for your needs.

What are some of the other ways I can reduce my car insurance premiums?

Reducing your car insurance premiums is a common goal for many drivers in Australia. Fortunately, there are several strategies you can employ to potentially lower your premiums and save money:

  • Choose a higher excess: opting for a higher excess can lead to lower premiums. However, it's important to consider your financial situation and ability to pay the excess in the event of an accident.
  • Park your car in a secure location: parking your car in a garage or a secure driveway can minimise the risk of theft or damage, potentially leading to lower premiums. Inform your insurer about your parking arrangements to see if it makes a difference in your premium calculations.
  • Reduce your usage: car insurance companies consider the distance you drive each year when calculating your premiums. If you can reduce your annual usage, such as by carpooling or using public transport, you may be eligible for lower insurance rates.
  • Pay your premiums annually: in many cases, insurers may be willing to offer a discount if you pay your premiums annually, rather than monthly. This reduces the associated administrative cost on their end, so it can result in a cheaper overall policy if you’re in a position to do so.
  • Only add the optional extras you need: by reducing the optional extras on your policy to only the ones you know you need, you can potentially reduce your premium simply by being economical with how you tailor your insurance.

While reducing your premiums is important, it's equally crucial to ensure you have adequate coverage for your needs. Striking the right balance between cost and coverage is key when choosing car insurance.

Types of car insurance you can choose from

Third party property damage (TPPD)

The most basic type of optional cover available, TPPD insurance can offer protection for damage caused by your vehicle to other people's property. However, no damage to your vehicle will be covered.

Third party fire and theft (TPFT)

A step up from TPPD, TPFT insurance can also cover damage to your vehicle sustained due to a fire or theft (or attempted theft) in addition to third-party property damage if you're in an at-fault accident.

Comprehensive

The most extensive (and expensive) form of cover, comprehensive car insurance can also offer cover for damage to your vehicle in an accident, collision and certain weather events on top of the areas TPFT covers.

Frequently asked questions about car insurance offers

Are there any offers for students or young drivers?

Insurance providers in Australia generally don’t offer special discounts to young and student drivers. The reverse is often true, with premiums often increased for policies taken out by young drivers under 25 or those on their L-plates or P-plates.

Are there any special offers for loyalty or long-term customers?

Many insurance companies offer special incentives for long-term policyholders. These offers can include discounts on premiums, bonus rewards or exclusive benefits for staying with the same insurer for an extended period. The qualification criteria for loyalty discounts vary between insurers, so it’s important to check with them if you’re unsure if you’re eligible.

Who offers lifetime new for old car insurance cover?

Several insurers offer new for old cover on their life insurance coverage (typically comprehensive). This means that your old car can be replaced with a new one if it’s written off. However, in most cases, this will only apply to your vehicle if it’s less than two years old. There may be some insurers in the market who offer lifetime new for old cover, so it’s crucial to compare deals if you’re looking for this extra.

Who offers the cheapest and best car insurance?

The cheapest and best car insurance will depend entirely on your profile as a driver, such as your driving history, where you live and the age, condition and make of your car. That’s why it’s important to thoroughly compare offers available on the market before selecting your policy, as this can help you determine which may be the cheapest or best with more confidence.

Are there any specific offers for electric or hybrid car owners?

There aren’t generally any specific discounts for car insurance on electric vehicles and hybrids. These vehicles are often more expensive to insure, given their price tag and the relative scarcity of EV parts and trained technicians.

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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.

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Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.

We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.

For more information about us and how we conduct our business, you can read our privacy policy and terms of use.

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1300 974 066

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Disclaimer and important things you should know

Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.

We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.

For more information about us and how we conduct our business, you can read our privacy policy and terms of use.

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