Annual car costs exceed $5,000 in 2021
Australian drivers are spending upwards of $5,100 a year on car-related costs, according to a joint study by car subscription service Carbar and market research company YouGov.
Those participants in the study repaying car loans saw closer to a $9,000 annual car bill, while 41% of all respondents felt like they didn’t have a handle on their car expenses.
Car insurance is a significant slice of this expense pie. Mozo’s 2020 car insurance report found comprehensive car insurance alone is costing Aussies more than $950 a year on average – and prices are on the rise.
While petrol prices and car rego costs may be out of your control, there are a few ways to score a more affordable car insurance quote.
How to cut car insurance costs
- Pay-as-you-drive: After a year of lockdowns, more providers are jumping on the pay-as-you-drive car insurance bandwagon. This usually involves setting a kilometre limit that you drive under within a policy period and receiving a discounted premium for spending less time on the road (thus posing less of an insurance risk) than the average driver.
- Seek out discounts: From online application discounts to loyalty rewards and safe-driver bonuses, there’s a huge list of potential discounts that could shave down your insurance bill. Some providers will apply these automatically when you meet the conditions, but with others you may need to make an enquiry to start receiving the new rate.
- Move to third party: A comprehensive car insurance policy will cover your own wheels as well as repair bills in case you damage other cars or property while driving. But if a comprehensive premium doesn't fit your budget or your car’s value, then third party property damage car insurance is a cheaper option to consider. Just remember: this only covers damage you might cause to other vehicles and property (up to a certain amount), not your own car.
- Compare and haggle: If you’re still not satisfied with your premium, take a look at competitor insurance providers and negotiate a better deal. If your current insurance company isn’t willing to budge, consider switching to a provider offering cheaper car insurance that meets your needs as a driver. You can start your research today using Mozo’s car insurance comparison table.
Compare comprehensive car insurance policies - last updated February 27, 2021
Comprehensive Car Insurance
- 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
- 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
- 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
- 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
Comprehensive Car Insurance Policy
- 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
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