New car: Can I transfer my insurance policy?

Woman sitting at table, looking up car insurance on laptop.

So, you’ve got an advert up on Gumtree, a piece of paper in the windscreen with the price and your eye on a shiny new set of wheels. The time has almost come to say goodbye to your old car ... almost. You still have to sort out your car insurance.

The good news is that most insurers will allow you to transfer your current policy to your new vehicle. Ultimately, this means less fuss for you but is it the best option for your wallet? 

Transferring car insurance

Let’s start at the very beginning: as long as your insurer allows you to transfer your policy (which as we’ve said, most do), the ‘how’ part is usually fairly straightforward.

You can do this by either giving your insurer a ring or changing your car details online. In other words, you’ll have the same policy but with a different car listed on it.

Will the premium be affected?

It is highly likely that your car insurance premium will change, if you switch cars. The age, make and model of your car are some of the key factors that insurers use to work out how high or low your payments should be.

So, if your new car is indeed a newer model and is worth more, then your insurance premium could go up. Or, if your new car has more safety features, then your bill could be less. Ideally, you would want to call your insurer before you make any big decisions. That way you can tell them what particular car you’re looking at and they can give you an estimate of how much more or less your insurance premium will be.

Update or switch?

Updating might not be too much of a hassle, but the question is should you stick with your old car insurance policy in the first place?

Seeing as you’re making a change already, now could be the time to review not only how much you’re paying but also what you’re paying for. Remember that you originally chose this policy for your (soon to be) old car. Maybe you’ll want new for old replacement cover for your new wheels, or a higher level of cover for your personal items.

Plus, if your insurer is going to up the price of your premium, you might want to shop around for a more competitive deal anyway. 

Compare some of the comprehensive policies on offer below to get started.

Compare comprehensive car insurance

Mozo may receive payment if you click products on our site. Mozo does not compare the entire market.
Last updated 13 December 2024Important disclosures
Important information on terms, conditions and sub-limits.
  • Comprehensive Car Insurance

    Monthly premiums
    Calendar icon
    Yes Costs Extra
    Choice of repairer
    tools icon
    Optional Extra
    Choice of excess
    coins icon
    $400 - $2,500
    Agreed or market value
    Car coin icon
    Agreed Or Market

    Available discounts

    • Comprehensive Car Insurance

      Monthly premiums
      Calendar icon
      Yes Costs Extra
      Choice of repairer
      tools icon
      Optional Extra
      Choice of excess
      coins icon
      $500 - $2,300
      Agreed or market value
      Car coin icon
      Agreed Or Market

      Available discounts

      • Online Discount $75
      Details
    • Gold Comprehensive Car Insurance

      Monthly premiums
      Calendar icon
      Yes Costs Extra
      Choice of repairer
      tools icon
      Optional Extra
      Choice of excess
      coins icon
      $550 - $1,900 (varies By State)
      Agreed or market value
      Car coin icon
      Agreed Or Market

      Available discounts

      • No Claim Discount
      • Online Discount 15%
      Details
    • Comprehensive Car Insurance

      Monthly premiums
      Calendar icon
      Yes
      Choice of repairer
      tools icon
      No
      Choice of excess
      coins icon
      $800 Flat Excess Fee
      Agreed or market value
      Car coin icon
      Agreed

      Available discounts

      • Get 10% Off The Base Premium For The First 2 Consecutive Monthly Policies And Up To A 15% Potential Monthly Discount From Your 3rd Month For Being A Safer Driver. Minimum Premiums May Apply. T&Cs Apply.
      Details

    * 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 and the Target Market Determination on the provider's website for further information before making any decisions about an insurance product.

    ^See information about the Mozo Experts Choice Car Insurance Awards