Used Car Insurance

Compare insurance quotes for your used car in one place today.

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, updated on February 15th, 2024       

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Car Insurance Banner

Looking for reliable and affordable used car insurance in Australia? Protecting your investment is essential, which is where car insurance comes into play. Whether you've recently purchased a pre-owned vehicle or want to ensure new comprehensive coverage for your trusted set of wheels, finding the right insurance policy is crucial.

You can compare a range of offers side-by-side online. Simply enter your details, explore the options and choose the policy that suits your needs and budget. Get started with a free, no-obligation quote today!

What is used car insurance and why do I need it?

Used car insurance is simply a standard policy taken out for vehicles that have previously been owned and driven. It can provide financial protection against unexpected events such as accidents, theft, vandalism and third-party property damage (depending on the type of policy you buy). Whether you've bought a used car from a dealership or a private seller, having insurance is essential to protect your investment and provide you with peace of mind on the road.

Having used car insurance is important for several reasons. Firstly, it helps cover the cost of repairs in case of an accident or damage caused by unforeseen circumstances included in your policy’s coverage, which could otherwise be very expensive. Additionally, it can provide greater peace of mind to you while driving that your insurance policy can help you out should a covered event take place. Moreover, many lenders require comprehensive insurance coverage for financed used cars to protect their interests.

Can I get car insurance before I buy a used car?

Yes – you can sort your insurance coverage in advance of receiving your used car by scheduling your policy to begin on the date you’re expected to start driving it. This can provide peace of mind that you’ll be able to hit the road straight away. As mentioned, you’ll need to provide your lender with proof of insurance if you’re purchasing a used vehicle with finance as a condition of funding, so you’ll need to do this if your car isn’t expected to arrive for some days or weeks.

To get comprehensive or third party car insurance for a used car, you'll need to provide information about the vehicle, such as its make, model, year of manufacture and Vehicle Identification Number (VIN).

While it isn’t a legal requirement to have insurance before you buy a used car (aside from CTP), it's a good idea to start researching and obtaining insurance quotes in advance. Knowing your insurance options and estimated costs can help you make an informed decision when purchasing a used car and ensure your coverage begins the day you start driving it.

Types of car insurance you can choose from

What factors affect the cost of used car insurance?

Common questions about car insurance for used vehicles

Can I get insurance for a used car with a previous accident history?

You may still get insurance for a used car with a previous accident history, depending on the nature of its history and whether it meets your insurer’s coverage requirements. However, it's important to disclose the car's accident history to the insurer during the application process. The insurance provider will assess the car's condition and determine the coverage options and premiums based on factors such as the severity of the accidents and repairs made. If the vehicle is deemed a high risk, you’ll have to pay more in premiums.

Can I transfer my existing car insurance to a used vehicle?

You may be able to transfer your existing car insurance to a different used vehicle. You’ll need to inform your insurance provider about the change in the vehicle and provide the necessary details. If it qualifies for the same level of coverage, your insurance company will update your policy and premiums accordingly, considering factors such as the make, model, age, and condition of the used vehicle. It's essential to review the terms and conditions of your policy to ensure it meets your needs for the new vehicle.

What should I consider when comparing car insurance quotes?

When comparing used car insurance quotes, it’s important to consider the following factors:

  • Premium cost
  • Coverage and exclusions
  • Optional extras available
  • Excess options
  • Discounts or bonuses
  • Payment options (whether you can do so monthly or annually)
How long after buying a used car do you have to get insurance?

As mentioned, there’s no set date after which you must have comprehensive or third party car insurance unless you’re financing your used car purchase through a lender. You can purchase your insurance in advance of receiving the car and schedule its start date to coincide with your first day using the car.

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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.