While the world’s attention has been focussed on COVID-19, something big has been happening in the world of car insurance. The industry is undergoing somewhat of a shake-up that could bring exciting new ways to save money and drive better value out of your insurance policy.
In Australia, we’ve seen the launch of innovative new pay as you drive car insurance options like Huddle as well as a new female-focussed entrant, Stella, that rewards women for being safer drivers.
New player Poncho is backed by major general insurance company, IAG, and operates in a similar way to a subscription-style service like Netflix, providing insurance cover that you can cancel at any time.
Qantas has entered the car insurance market too, offering competitive premiums and up to 20,000 Qantas Points as a reward for joining. Read on for our editor’s review of the players shaking up insurance right now.
QantasInsurance has launched Australia’s only carinsurance with Qantas Points. Depending on the cost of your premium, you’ll get up to 20,000 Qantas Points when you join or switch, and can continue to earn more points per dollar spent on your premium. Other benefits include competitive pricing, options to tailor your cover, lifetime repair guarantee, new for old replacement and 24/7 claims.
Stella is a game changing new entrant that’s rewarding female drivers for being safer drivers. As a woman, you can sign up for a Stella comprehensive car insurance policy and pay less for being a statistically lower risk driver while still enjoying benefits like theft and accident damage, new car replacement, personal item cover of up to $1,000 and an annual $100 no claim reward.
3. Pay as you drive
Huddle Comprehensive Car Insurance*
Pay per kilometre and save when you drive less
24/7 claims lodgement and new-for-old replacement (under 2 years)
If your car has been gathering more dust than kilometres thanks to remote working during Covid19, this innovative new pay as you drive comprehensive car insurance from Huddle could save you a bundle. With Huddle, you simply choose the kilometres you think you'll drive this year and buy more kms later if you need them. If you drive less than 15,000 km a year, Huddle's Pay As You Drive Cover could save you up to 30% compared to their regular comprehensive cover.
4. Pay month-to-month with no cancellation fees
Poncho Comprehensive Car Insurance*
Pay for insurance month-to-month, like a subscription
Poncho is shaking up car insurance with a new pay-as-you-go approach that lets you pay month-to-month without any lock-ins or cancellation fees. So if you don't need to drive for a certain amount of time, you can simply cancel your cover without penalty and pick it back up when required. You'll enjoy 24/7 online claims support and a lifetime guarantee on authorised repairs, plus if you accidentally damage your windscreen, sunroof or window glass, Poncho will fix them for free!
* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement on the provider's website for further information before making any decisions about an insurance product.