5 ways to save money on car insurance this January
January is finally here, and we all know what that means...It’s time to face your financial fears! Yes you were probably expecting something a little more exciting, but the beginning of a new year really is a good time to review your expenses and see where you could be saving more money in the year ahead.
So let’s just say for argument’s sake that you’ve already bitten the financial bullet and reviewed your outgoings. If you’re a car owner you may have noticed that a large part of your earnings is being offloaded on your car insurance.
But don’t despair! Now is the time to take the wheel and get yourself a better car insurance deal, one that doesn’t ride roughshod over your savings goals! Here are just five things to think about when reviewing your car insurance policy or switching to a new one:
1. Bundle all your insurance policies!
If you have multiple insurance policies, say home insurance or home and contents insurance plus car insurance, then you may want to think about bundling them up with the same insurer. A number of insurers these days offer insurance in multiple areas, and will often give you a discount for taking out more than one policy. You could be bagging as much as a 30% discount off your premium, just for getting all your insurance policies from the same provider.
2. Loyalty pays off.
That’s right, when it comes to insurance, loyalty should work in your favour. So if you’ve been with your current insurer for a number of years then it might be time to ask for a loyalty discount. Your insurer may even offer you a discount come renewal time, but if they don’t make sure you ask for one! And if they say no, or the discount isn’t really what you had in mind, you might want to think about switching to another insurer who can give you a better deal.
3. Make sure you’re getting the no claims bonus.
Would you describe yourself as a fairly safe driver? If the answer’s yes and you haven’t had any reason to make a claim in the past few years, then you should probably see about getting yourself a no claims bonus. A no claims bonus is a reward for being a careful driver; if you manage to go a whole year without making a claim, then you could be entitled to a no claims bonus discount. Most insurers will continue to increase the discount for the first five consecutive years that you fail to make a claim. So whether you’re reviewing your current car insurance policy or searching for a new one, this is definitely something worth bringing up with your insurer.
4. Think about who’s driving your car.
If you’re the only person who ever drives your car, then you might be able to get a restricted driver discount. This will apply as long as you can guarantee that you are the only person driving your vehicle. Alternatively, you could restrict the age of the other drivers listed on your policy to get a discount. For instance, as drivers under the age of 25 are more likely to have accidents, many insurers will offer you a substantial discount for excluding younger drivers from your policy.
5. Search for exclusive online discounts.
Nowadays it’s so easy to sign up for pretty much anything online. You can sign up for a new bank account, a home loan or a travel card, all from the comfort of your sofa. And the same goes for car insurance. Plus you can usually get a quote for your wheels online within a matter of minutes. And to top off the ease of access, a number of car insurers also offer exclusive online discounts. That’s right, you could snag yourself a sweet 10-15% off, just for signing up from the comfort of your home. So if you are searching for a new car insurance policy, then chances are it will benefit you to head online.
Feeling inspired to review your policy? Why not take a look at the car insurance deals below to see if you could be getting a better deal for your beloved car, or head to Mozo’s dedicated car insurance comparison page for a full list of car insurance offers.
Compare car insurance deals - last updated February 27, 2021
Comprehensive Car Insurance
Get award winning Car Insurance. Save 15% ^ on your first year’s premium when you purchase a new policy online. Budget Direct offers tailor-made cover, new-for-old replacement, 24/7 claims, a highly-rated claims service, and get a hire car following a theft.
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $500 - $1,850
- Agreed or market value
- Agreed Or Market
Available discounts
- Online Discount Up To 15%
CompareCompareComprehensive Car Insurance
Get award winning Car Insurance. Save 15% ^ on your first year’s premium when you purchase a new policy online. Budget Direct offers tailor-made cover, new-for-old replacement, 24/7 claims, a highly-rated claims service, and get a hire car following a theft.
- New car if written off
- Yes - within 1 years and 20,000 km of original registration
- Rental car after theft
- Yes - Up to $1,000 total.
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Up to 14 days for at fault accidents.
- Windscreen cover
- Yes - standard excess. Option to reduce windscreen excess to $40 on every windscreen claim for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- $600 for drivers under 21, $500 for drivers under 24, $600 for unlisted drivers, $500 for inexperienced drivers over 24.
- Roadside assistance
- Optional Extra
- Other benefits
- -
- Other restrictions
- -
Read our Mozo Review to learn more about Budget Direct Comprehensive Car Insurance
Comprehensive Car Insurance
Get car insurance you can count on with up to 40,000 Qantas Points when you join by 28 February. Make this the year you start enjoying more rewarding car insurance. Points awarded will be based on your premium. T&Cs & eligibility apply.
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $400 - $1,850 (varies By State)
- Agreed or market value
- Agreed Or Market
Available discounts
- No Claim Discount
CompareCompareComprehensive Car Insurance
Get car insurance you can count on with up to 40,000 Qantas Points when you join by 28 February. Make this the year you start enjoying more rewarding car insurance. Points awarded will be based on your premium. T&Cs & eligibility apply.
- New car if written off
- Yes - within 2 years and 40,000 km of original registration
- Rental car after theft
- Yes - Up to 14 days, max $1,000
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Up to 14 days.
- Windscreen cover
- Yes - standard excess. Option to reduce windscreen excess to $40 for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- $600 for drivers under 21, $500 for drivers aged 21 to 24 inclusive, $600 for unlisted drivers, $500 for inexperienced drivers.
- Roadside assistance
- Optional Extra
- Other benefits
- Earn up to 40,000 Qantas Points when you sign up by 28 February 2021. Points earned depend on the amount spent on your premium. Points earn thresholds and T&Cs apply.
- Other restrictions
- -
Read our Mozo Review to learn more about Qantas Comprehensive Car Insurance
Comprehensive Car Insurance
Stella are changing the tune on car insurance, offering car insurance made especially for women. Features include no claim reward, new car replacement, customise your policy and more. Enter your car rego and get a quick quote online.
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- No
- Choice of excess
- $800 - $2,000
- Agreed or market value
- Agreed
Available discounts
- No Claim Discount
CompareCompareComprehensive Car Insurance
Stella are changing the tune on car insurance, offering car insurance made especially for women. Features include no claim reward, new car replacement, customise your policy and more. Enter your car rego and get a quick quote online.
- New car if written off
- Yes - within 3 years and 60,000 km of original registration
- Rental car after theft
- Yes - Up to 14 days.
- Rental car after accident
- Not at fault - yes. At fault - Optional Extra. Up to 14 days.
- Windscreen cover
- Yes - standard excess. Option to reduce windscreen excess to $0 on every windscreen claim for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- $600 for listed drivers under 25. $1,600 for unlisted drivers under 25
- Roadside assistance
- Optional Extra
- Other benefits
- -
- Other restrictions
- -
Read our Mozo Review to learn more about Stella Comprehensive Car Insurance
Comprehensive Car Insurance Policy
Bingle keeps car insurance simple - choose between Comprehensive and Third Party Car Insurance. Comprehensive covers you for accidental loss or damage to your own car caused by insured events such as accidents, theft, storms, fire.
- Monthly premiums
- Yes Costs Extra
- Choice of repairer
- No
- Choice of excess
- $650 - $795 As A Fixed Excess; Varying Between States
- Agreed or market value
- Market
Available discounts
CompareCompareComprehensive Car Insurance Policy
Bingle keeps car insurance simple - choose between Comprehensive and Third Party Car Insurance. Comprehensive covers you for accidental loss or damage to your own car caused by insured events such as accidents, theft, storms, fire.
- New car if written off
- Optional Extra - within 3 years of original manufacture
- Rental car after theft
- Optional Extra - Unlimited days.
- Rental car after accident
- Not at fault - Optional Extra. At fault - Optional Extra. Unlimited days.
- Windscreen cover
- Optional - reduce windscreen excess to $0 on every windscreen claim for an additional premium.
- Modifications
- Automatically covered. Does not include aftermarket paint, turbochargers, nitrogen fuel or roll cages.
- Young driver excess imposed
- $600 for drivers under 25, $1,950 for unlisted drivers over 25.
- Roadside assistance
- No
- Other benefits
- -
- Other restrictions
- -
Read our Mozo Review to learn more about Bingle Comprehensive Car Insurance Policy
Comprehensive Car Insurance
Easier, better, smarter car insurance. Say g’day to Poncho. They've taken the complicated out of car insurance and created a new route that's simple, u-turn free and keeps you in the driver’s seat. No cancellation fees, 24/7 online claims service and a policy that works just like a monthly subscription.
- Monthly premiums
- Yes
- Choice of repairer
- No
- Choice of excess
- $800 Flat Excess Fee
- Agreed or market value
- Agreed
Available discounts
CompareCompareComprehensive Car Insurance
Easier, better, smarter car insurance. Say g’day to Poncho. They've taken the complicated out of car insurance and created a new route that's simple, u-turn free and keeps you in the driver’s seat. No cancellation fees, 24/7 online claims service and a policy that works just like a monthly subscription.
- New car if written off
- Yes - within 15,000km of original registration
- Rental car after theft
- Yes - Up to 14 days, max $50 per day
- Rental car after accident
- Yes - Up to 14 days, max $50 per day
- Windscreen cover
- Yes - $0 windscreen excess
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- No additional excess for young drivers. $3,000 for unlisted drivers
- Roadside assistance
- No
- Other benefits
- -
- Other restrictions
- -
Read our Mozo Review to learn more about Poncho Comprehensive Car Insurance
^See information about the Mozo Experts Choice Car Insurance Awards
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