Top 10 Best Car Insurance Companies in Australia
Top 10 Best Car Insurance Companies in Australia

Car insurance protects you against financial loss for damages resulting from car accidents, theft, weather events, and other unforeseen costs according to your policy type. A car insurance policy helps pay for the cost of damage to cars, property, and even people. The Australian car insurance market is highly competitive, which can make it difficult for consumers to choose the right policy for them.

There are many ways to judge car insurance companies, so you must look at several factors. To make the insurance shopping experience a little less painful, we’ve created this post to help compare some of the best car insurance companies in Australia.

Below is the list of the 10 best car insurance companies with cheap quotes and good services for every Aus car owner.

Many Types of Car Insurance in Australia

There are 4 different types of car insurance in Australia. Below is an explanation of each of the different types of car insurance and help you decide what type of insurance you can consider.

1.Compulsory Third Party or “CTP” Insurance Explained

Third-party “CTP” insurance is a minimum requirement to drive in Australian states… and for good reason. CTP provides coverage for other people who get injured or die in an accident.

For example, if you’re walking down the road to the supermarket and a car runs off the road and hits you — that car is ‘in the wrong’ and needs to have cover for your costs — and the costs of damage to any other vehicles.

2.Third-Party Property Explained

Most third-party car insurance policies provide cover for other people’s property and cars, but not your car.

For example, if you crash your car into a parked car (you’re ‘in the wrong’ or ‘at fault’), your insurer will cover you for damages to the parked car and nearby property. But you can wave goodbye to your bomb — it won’t be covered.

Ensuring your car is important. So if you absolutely cannot afford comprehensive car insurance (see below), you should at least have 3rd party property insurance. This is usually the minimum standard of car insurance offered by Australian insurers.

Just imagine the look on your partner’s face if you t-boned Kyle Sandilands’ Ferrari without any insurance.

3.Third-Party Fire and Theft

Third-Party Fire and Theft is the same as Third Party Property except you’re covered if your car is stolen or damaged in a fire.

Depending on the policy, you may be able to ‘agree’ on a fixed value of the fire and theft level of cover — or it may be market value.

Say you have a car you bought last year for $10,000. This year, the ‘market value’ could be $9,000, with $1,000 taken off to represent the age of the vehicle.

If you have a ‘market value’ car insurance policy and you get a payout of insurance, you’ll probably receive whatever the insurer says it’s worth, based on the market value at the time. This is usually based on the average prices of cars of a similar make and model.

If you feel like your insurer isn’t giving you the right amount of money, go back to and tell them. When you do take evidence (industry reports, online advertising, expert reports, etc.) that shows your car is worth more. Even if you get an extra $500 in your payout, that’s $500 in your pocket!

An agreed value or agreed level of car insurance is exactly what it sounds like. When you take your policy with an insurer they might give you the option to insure your wheels for a set price.

For example, if you bought your car 6 months ago for $10,000 but the market value is $8,000 you might request to insure the car for $10,000.

4.Comprehensive Car Insurance

As they might say in Mexico, Comprehensive car insurance is “the whole enchilada”.

If you’re at fault, your Comprehensive car insurance provides cover for:

-Your car, plus

-The other person’s car, plus

-Property damage, and

-Covers you if your car catches fire or gets stolen

Again, sometimes you can agree on a fixed level of cover or market value, which can be determined as the current value of your car when it was crashed.

Top 10 best car insurance companies in Australia

(Cheapest Quotes and Good Services)

1. Australian Seniors

2. Australian Warranty Network (AWN)

3. Youi Comprehensive Car Insurance

4. Budget Direct Gold Comprehensive Car Insurance

5. Integrity Extended Warranties

6. Real Insurance

7. Eric Insurance

8. Huddle Comprehensive Car Insurance

9. Woolworths Comprehensive Car Insurance

10. State Government Insurance Office (SGIO)

*****


1. Australian SeniorsWhat are the best car insurance companies in Australia?

Photo: youtube
Photo: youtube

National Seniors is an Australian insurer geared towards older Australians. It provides car insurance, caravan/trailer insurance, home insurance, landlord insurance, travel insurance, life insurance, health insurance, and business insurance.

According to the productreview.com.au website, Australian Seniors is the top-ranking car insurance provider in Australia, achieving ratings of 4.6 for transparency, 4.7 for value for money, and 4.7 for customer service. Notably, of the 92 people the website reported as having made a claim, 88 had their claim approved.

Australian Seniors car insurance policies are underwritten by Hollard with comprehensive, third-party property damage and third party, fire, and theft cover options available. Legal liability cover can be included up to $20 million, while roadside assistance is available as an optional extra.

2. Australian Warranty Network (AWN)

Photo: awninsurance
Photo: awninsurance

AWN received ratings of 4.7 for transparency, 4.7 for value for money, and 4.7 for customer service on productreview.com.au. Customers commended the insurer’s quick response to inquiries, excellent service, and efficient claims process.

AWN is known for its mechanical breakdown insurance, which provides coverage for various vehicles, such as cars, motorbikes, scooters, motorhomes, and caravans. Its other products and services are general insurance, administration and claims management, roadside assistance, asset protection, and training programs.

3. Youi Comprehensive Car Insurance

Photo: auzzi
Photo: auzzi

Youi is a wholly-owned subsidiary of OUTsurance International Holdings Pty Limited, which is part of the Rand Merchant Insurance Holdings Group (RMIH). It underwrites its policies, and its products include car, motorcycle, caravan and trailer, building and contents, watercraft, and business liability insurance.

Youi’s policy features many flexible options you may be after at an affordable price. In an emergency, you can access up to $1,000 to cover repairs without an insurance assessment or choose to use those funds for accommodation and travel if you’re more than 100km away from home. Emergency roadside assistance is also included as a standard in this policy. You’ll be able to get back onto the road after a theft or an accident where you’re not at fault with Youi’s hire car cover (for up to 14 days). Youi also offer new car replacement if your vehicle is written-off and under two years old (as long as there’s less than 40,000km on the odometer).

What Are Extras In Car Insuarance?

‘Extras’ are inclusions or perks bundled into car insurance policies that are competing for your business. Otherwise known as ‘benefits’, some common extras you may find incorporated into your policy are:

Freedom to nominate your choice of repairer

Got a preferred car repairer you’ve always worked with? This optional extra gives you the ability to nominate your preferred repairer. By not selecting this option, the repairer could be solely at your insurer’s discretion.

Hire car services if your car is written off

If your car is essential for your work commute or general lifestyle, this optional extra may be of benefit to you. With this extra, your insurer may provide you with a replacement hire car for a set period of time, if your car is written off. This may come with an additional fee.

Reduce your window glass excess

You could be driving along the highway, and a vehicle on the road ahead flicks up a stone that cracks or chips your windscreen. Typically, an insurer will charge you an excess to repair this damage, which could total hundreds of dollars. With this optional extra, you can choose to pay more on your policy premiums, and reduce the amount of excess you’d have to pay in the event that your windscreen needs repair or replacement.

Roadside assistance

With roadside assistance you’ll never have to fear being stranded if your car breaks down. Optional roadside assistance bundled with comprehensive cover from iSelect’s car insurance providers could include: battery assistance, tyre changes, towing, key rescue, emergency fuel, and more, depending on the provider and policy.

Personal effects cover

Your insurer may cover the cost to replace your valuables in your car (up to a certain value).

Replacement keys

Your insurer may cover the cost to replace your keys if you were to misplace them.

Depending on your insurer, there are various extras available when taking out car cover. Like all insurance products, it’s important to understand the fine print when choosing extras, so that you fully understand what you’re covered for, and how adding extras may affect the cost of your premium.

4. Budget Direct Gold Comprehensive Car Insurance

Photo: prnasia
Photo: prnasia

Since 2000, Budget Direct has had Insurance Solved for more than than 3 million Australians.

Budget Direct is a general insurance company that employs over 1,300 people, serves nearly nine million customers, and has partnership agreements with hundreds of car repairers and building contractors in Australia. Policyholders can make a claim 24/7 and can customize their coverage by adding one or more optional features, including hiring a car following an accident or flood cover for their home.

Budget Direct is Mozo’s Value Insurance Provider of the Year^, and alongside multiple car insurance awards wins this show it’s delivering top-value cover. This policy includes useful features that’ll keep you driving smoothly like hire car cover for 14 days after a theft or not-at-fault accident (up to $1,000 in total). You’ll also be covered by new-for-old car replacement (when the car is under two years old or has driven less than 40,000km), $500 of personal property cover, age, and $1,000 for replacement keys. You can receive a premium discount of 15% off your first year’s cover by applying for the policy online.

5. Integrity Extended Warranties

Photo: old.com.au
Photo: old.com.au

Integrity Extended Warranties received ratings of 3.8 for transparency, 3.9 for value for money, and 4.0 for customer service. Customers were satisfied with the quality and affordability of their policies. Some policyholders who filed a claim multiple times did not experience any problems, thanks to the polite staff and fast process.

Integrity Extended Warranties maintains long-term associations with leading companies in the industry such as Royal Automobile Club of Victoria (RACV) and Lumley Insurance. Its coverage plans are Absolute and Endurance. The Absolute coverage plan is available from motor dealers and provides a similar level of cover as the manufacturer’s warranty after expiration. Meanwhile, the Endurance plan is a listed component and parts warranty with one- to five-year term cover for cars regardless of age and distance traveled.

6. Real Insurance

Photo: youtube
Photo: youtube

Real Insurance is a provider of life insurance in Australia, as well as other products such as car, home, pet and travel insurance. Real Insurance was established in 2005. As well as offering life insurance, it is also a provider of car, home, landlord, pet, funeral, travel, and bike insurance. Its life insurance is underwritten and issued by Hannover Life Re of Australasia Ltd.

Real Insurance says the cost of its life insurance depends on your age, sex, smoking status and the amount of cover you apply for. The premium can also be based on the applicant’s answers to a series of health and lifestyle questions asked during the application process.

Premiums can be paid fortnightly, monthly or yearly to suit your budget. Real Insurance says there is no extra cost for paying premiums fortnightly or monthly.

7. Eric Insurance

Photo: anthonycrookes45
Photo: anthonycrookes45

Eric Insurance is an entirely Australian-owned insurer with over 20 years of experience. They’re all about helping people deal with the unexpected. eric offers protection for vehicles whether they have four wheels or two.

The cost of car insurance usually differs depending on your circumstances. Your gender, the type, and color of the car you drive, the amount of cover you need, your driving experience, plus more can affect your quote. Always check the Product Disclosure Statement to make sure which product suits you the most.

Comprehensive car insurance is the only level of cover offered by eric and is designed to protect drivers from the cost of damage caused to their car, as well as to other people’s vehicles and property. As well as offering a broad range of cover for accidental damage and loss, eric offers specialist cover such as used car warranty and tire and wheel cover for an additional cost.

Some of the features offered by eric’s comprehensive car insurance at the time of writing include:

  • Replacement of new vehicle within 24 months of registration
  • Accidental damage repairs
  • Cover for loss or damage to personal property
  • Hire car after theft
  • Emergency travel and accommodation

In addition, customers can choose to add on the following optional features at an extra cost:

  • Windscreen protection (up to $600)
  • Used car warranty (12, 24, or 26-month options)
  • Tyre and wheel cover

8. Huddle Comprehensive Car Insurance

Photo: huddle
Photo: huddle

Huddle Insurance achieved ratings of 3.1 for transparency, 3.5 for value for money, and 3.2 for customer service. Policyholders were satisfied with its affordable policies, excellent customer service, as well as a fast process for claims and repairs.

Huddle Insurance has over 35,000 active members and a small army of Huddle Bots, AI-powered bots that use algorithms to source useful data to support customers 24/7. Its car insurance line comprises comprehensive and third-party property plans that have various benefits and optional features. The comprehensive plan covers loss or damage to the policyholder’s car and damage to someone else’s property or car. Meanwhile, the third-party property plan only covers damage to other people’s vehicles or property.

9. Woolworths Comprehensive Car Insurance

Photo: productreview
Photo: productreview

Woolworths Insurance information states that its comprehensive car insurance product is for customers who want to ensure their car against accidental loss or damage caused by a collision, natural event, fire, theft, attempted theft, or malicious damage by others, and for liability for loss or damage to other people’s property caused by the car if the driver is at fault.

If your car is written off, Woolworths Insurance states for eligible policyholders will provide a new replacement as long as it’s two years or less from the date of registration. They also provide cover for the damage bill to another person’s car or property up to $20m, as well as cover you for theft and vandalism.

Some other features include:

  • Damage from natural weather events
  • Valuables inside your car at the time of an incident
  • Towing
  • Lock and car key replacement
  • Trailers or caravans
  • Emergency travel and accommodation
  • Essential repairs
  • Transit mishaps
  • Damage made by other drivers or passengers

In addition, customers can choose to add on the following optional features at an extra cost:

  • Excess-free windscreen cover
  • Hire car cover
  • Roadside assist

Woolworths Insurance states that they also offer a Drive Less Pay Less policy, which is comprehensive cover where the premium (cost) is based on how many kilometers you plan to drive. According to the provider, if you drive 15,000kms or less in a year, you may also be eligible for a premium reduction.

10. State Government Insurance Office (SGIO)

Photo: quickrevs
Photo: quickrevs

SGIO is an insurance brand of Insurance Australia Group trading in Western Australia. Under "The Insurance Act of 1916", to take effect from 1 February 1917, the State Government Insurance Office (SGIO) was established, replacing the State Accident Insurance Office which became the Workers' Compensation Department of the SGIO.

SGIO received ratings of 2.3 for transparency, 2.4 for value for money, and 2.5 for customer service. Some customers who have been with the insurer for many years vouched for excellent customer service, affordable policies, and a smooth claims process.

SGIO is an insurance company backed by the Insurance Australia Group (IAG), one of the largest general insurers in Australia and New Zealand. Its car insurance line offers a variety of plans to suit consumers’ needs, such as comprehensive; comprehensive plus; third-property damage; third-party fire and theft; and veteran, vintage, and classic vehicles.

Tips To Make Your Car Insurance Cheaper

Using these strategies could save you up to $500 or more on car insurance:

Shop around each year. Most insurers reward NEW customers and NOT loyal customers (can you believe it?). Set a calendar reminder on your phone or Google/Apple/Microsoft calendar to compare policies each year. You might find you can get the exact same insurance online for $50 or $200 cheaper!

Park your car in a secure area. If you park your car under cover or in a secured car park, tell your insurance. This also applies if you only drive a few hours a day — tell your insurer. After all, if you’re not driving much you should pay less than someone who drives every day.

Don’t crash (obviously). As a safe driver, you won’t ever pay an excess if you don’t crash and the cost of your insurance won’t jump higher from one year to the next.

Don’t put ‘mods’ or aftermarket parts on your car (they look lame anyway). Mods like big tires or dragon-skull paint jobs tell your insurer (and the rest of the world) you have too much time on your hands — and the mods add costs the insurer might have to pay for. Worst case, the mods make your car unroadworthy and mean it’s not insurable.

Add security features. Most modern cars have security alarms but some have immobilizers. Such features can lower the cost of car insurance.

Consider buying your policy online. Some insurers offer the same car insurance policies cheaper to online customers.

Full list of car insuarance providers in Australia

For help finding the best car insurance in Australia, view our list of providers listed below. Please note that this is subject to change at any time.

  1. 1300 Insurance
  2. 1Cover
  3. 1st for Women
  4. AAMI
  5. AANT (Automobile Association of the Northern Territory)
  6. AI Insurance
  7. Allianz
  8. ANZ
  9. Apia
  10. Australia Post
  11. Australian Seniors Insurance Agency
  12. Australian Unity
  13. Bank of Melbourne
  14. BankSA
  15. Bendigo Bank
  16. Best Buy Insurance
  17. Beyond Bank
  18. Bingle
  19. Blue Badge Insurance Australia
  20. BOQ (Bank of Queensland)
  21. Budget Direct
  22. Bupa
  23. Cashback
  24. CCI Personal Insurance
  25. CGU
  26. Coles
  27. CommInsure
  28. COTA Insurance
  29. Elder’s Insurance
  30. Eric Insurance
  31. Essentials by AAI
  32. Famous Insurance Agency Pty Ltd
  33. GIO
  34. Guild Insurance
  35. HBF
  36. HSBC
  37. IAL
  38. ING
  39. Huddle
  40. Hume Bank
  41. Kogan Insurance
  42. Latitude Financial Services
  43. Lumley Special Vehicles
  44. MB Insurance
  45. NAB
  46. National Seniors Australian Insurance Holdings
  47. NRMA
  48. Over Fifty
  49. Ozicare
  50. People’s Choice Credit Union
  51. Poncho Insurance
  52. Progressive
  53. QBE
  54. RAA
  55. RAC (WA)
  56. RACQ (QLD)
  57. RACT (TAS)
  58. RACV (VIC)
  59. Real Insurance
  60. Retirease
  61. Ryno Insurance
  62. SGIC
  63. SGiO
  64. Shannons
  65. George Bank
  66. Suncorp
  67. Territory Insurance Office (NT)
  68. Vero
  69. Virgin Money
  70. Westpac
  71. WFI
  72. Woolworths
  73. Youi
10 Best Car Insurance Companies in UK - Cheapest Quotes and Good Services 10 Best Car Insurance Companies in UK - Cheapest Quotes and Good Services

There are lots of different car insurance providers in the United Kingdom, but prices and services can really vary. How can you find the best ...

Top 10 Best Car Brands in the United States Top 10 Best Car Brands in the United States

The best car brands in the US have been named this year, with 10 companies in the rankings.

10 Best Car Insurance Companies in Canada - Cheapest Quotes and Good Services 10 Best Car Insurance Companies in Canada - Cheapest Quotes and Good Services

There are dozens of auto insurance providers in Canada, but prices and services can really vary. How can you find the best insurance providers?