Now in their sixth year, the Mozo Experts Choice Awards provide a platform to highlight products in the marketplace we believe offer great value to Australians.
For the 2019 Car Insurance awards, the Mozo Experts turned their attention to finding the best policies, collecting pricing for 61 car insurance policies.
“There are so many car insurance companies around, and they all offer different levels of cover, so it can be tough finding which policies you might want to check prices on,” said Mozo Experts Choice Awards judge Peter Marshall.
“No matter whether you're after a cheap policy that has all the basics you need from insurance covered, or are prepared to pay a bit more for all the bells and whistles, Mozo's Experts Choice Awards winners list is a great place to start your search.”
For details on how we crunched the numbers and determined the award winners see our methodology report or get more info about our judging criteria and read our FAQs.
With wins in all three Exceptional Value categories, Budget Direct have been crowned Insurer of the Year for Car, Home and Landlord insurances for 2019. We found their policies delivered consistently low prices, while maintaining solid cover limits.
The value assessment for car insurance was based on tens of thousands of quotes, covering a wide range of different customer situations. We found that Australians are more likely to find Budget Direct among the cheapest quotes for their needs, than any other car insurer. And this is true whether they are looking for straightforward cover or wanting to add optional extras like hire car after an accident, reduced windscreen excess or choice of repairer.
Insurers who received an Exceptional Value award had car insurance policies that are among the best value for the cover they offer.
For those looking for comprehensive car insurance at the lowest cost, the below winners are a great place to start. We applied a cost assessment across more than 10,000 unique quotes, matching this against minimum cover levels, and found the insurers that consistently offered lower premiums than the competition, on the products of a similar type.
Seven policies stood out for being competitively priced across a range of different quotes.
Insurers who received an Exceptional Quality award were recognised for premium car insurance products that offer the very highest levels of protection and benefits. We compared a vast array of features including the generosity of cover limits, and policy exclusions.
Our assessment of Exceptional Quality is based on how well the policy scores on a large range of different factors including the events covered and the amount they’ll pay you for each one. Of the 61 policies assessed, we found these to offer the most generous levels of cover.
What’s the Judging Criteria for the awards?
Running since 2014, the Mozo Experts Choice Awards recognise products that deliver exceptional value or benefits to consumers.
See our methodology report for more detailed information on how we performed the price comparisons and determined the final winners list for the car insurance awards.
Did you compare all car insurance policies in the market for these awards?
We collected pricing and cover information for 61 different car insurance policies. The information collection was conducted in July and August, 2019. To be considered for inclusion in these awards, all information considered must be readily available on the insurer’s website and the policy available to the general public without being a previously established member or customer. Products are considered and awards are made irrespective of a product provider’s commercial relationship with Mozo. We aim to include most providers in the market in the Mozo Experts Choice Awards. However, not every product in the market will be included in our review.
How do I find the cheapest car insurance policy for my car?
You’ll want to check out the winners in the Exceptional Value categories. Our experts crunched the data on a range of customer scenarios and these were the insurers and policies that were great value when compared to similar products on the market.
It’s important to understand that several factors go into determining the cost of car insurance, such as your car make and model, your location and amount you drive per year. So, you’ll still need to do some comparing of features and options to find a policy that is right for you and then get quotes, so that you can compare prices.
What product features or benefits did you consider for the Exceptional Quality Awards?
Our assessment of Quality is based on how well the product scores on a large range of different factors including the nature and extent of the insurance cover, and the inclusion of added benefits. Overall results are weighted towards the options that are available to you when your car is a total write-off and whether you can arrange a rental during repairs. The full list of factors considered is included in our methodology report. We relied on product information in each insurer’s product disclosure statements, and on their websites, to assess cover and benefits.
Who are Mozo’s experts?
The Mozo Experts Choice Awards analysis is overseen by AJ Duncanson, Mozo’s Data Services Director. AJ is a data scientist and actuary, and has worked in financial services and product comparison for almost 3 decades. Together with our Product Data Manager, Peter Marshall, the team has over 50 years of financial services experience.
I work for an insurer, how do we promote our win?
Please get in touch with us to discuss by emailing or phoning our account management team on 02 9037 4368.