Downsizing car insurance: What are the cheapest cars to insure?
All manner of things can impact your car insurance, from your driving history to your age and even where you park your car. As you might expect, a big factor is the kind of car you drive.
As the new year approaches, you might want to reassess your car insurance bill. While comparing car insurance policies for the best-value deal can help cut costs, downsizing your car to a more affordable vehicle to run and insure could be amore radical money-saving New Year’s resolution.
When it comes to the car itself, there are a few factors that can push premiums up or down. Let’s investigate them.
Make, model and price
In general, cars that are cheaper to buy are cheaper to insure. This is because repairing or replacing a cheaper car after a claim will cost an insurer less. However, if you’re driving a rust bucket with minimal safety features, this could cost more since safety factors into premiums.
Safety rating
In theory, the safer the car the less likely you are to crash, or if you do crash there’ll be less damage. Many insurers will reference ANCAP safety ratings when setting premiums for different types of cars. While most new cars score pretty high on the chart of 0 to 5 stars, this could be something to consider in the insurance equation if you’re buying an older or used car.
Parts and country of origin
Even if you are changing gears to a cheaper ride, a bargain-basement car might not be the cheapest option to insure. If it’s difficult to source parts, the premium may jump up since repairs could cost more. Where the car is made (its country of origin) could also impact this, as importing car parts can be costly.
Crash and theft statistics
Stereotypes aren’t always accurate, but they often do factor into car insurance premiums. If you’re trying to insure a car of a particular make or model which is statistically more likely to be stolen or involved in a crash, you can expect a more expensive premium.
Fuel efficiency
If you drive environmentally friendly wheels some insurers may offer a premium reduction for your green habits. This is less about the risk involved in covering the vehicle, and more a means of encouraging sustainability in the industry and providers advertising they support those values.
In considering all these factors, just remember there’s a bundle of other calculations that go into setting premiums, and every insurer can assess them differently. To get a car insurance quote, start by comparing some of the options below then head to the website of policy that suits you.
Compare comprehensive car insurance - last updated January 23, 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
- Choice of repairer
- Yes
- Choice of excess
- $100 - $2,000
- Agreed or market value
- Agreed Or Market
Available discounts
- No Claim Discount
- Loyalty Bonus 5% With Various Conditions
CompareCompareComprehensive Car Insurance
Choose car insurance to match your needs, with no extra charges to pay monthly, a flexible excess, lifetime no claims bonus and your choice of repairer. Give our specialist insurance team a call or get your quote online today.
- New car if written off
- Yes - within 2 years of original registration
- Rental car after theft
- Yes - Up to 14 days, max $100 per day.
- Rental car after accident
- Not at fault - Yes. At fault - Optional Extra. Not at fault - Up to 14 days, max $100 per day. At fault - Up to 14 days, max $80 per day.
- Windscreen cover
- Yes - standard excess. Option to reduce excess for first windscreen claim each year to $0 for an additional premium.
- Modifications
- Covered only if agreed in writing.
- Young driver excess imposed
- Depending on state between $300 and $700 for listed drivers under 25, $1,500 for unlisted drivers under 25, $400 for inexperienced drivers over 25.
- Roadside assistance
- No
- Other benefits
- Lifetime No Claim Bonus available to customers who are over 25 years of age, have been insured with Bank of Queensland for 3 consecutive years on the maximum No Claim Bonus and have not had any penalty claims in those 3 years.
- Other restrictions
- -
Read our Mozo Review to learn more about Bank of Queensland 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 Costs Extra
- Choice of repairer
- Optional Extra
- Choice of excess
- $300 - $2,550
- Agreed or market value
- Agreed Or Market
Available discounts
- Online Discount $75
CompareCompareComprehensive Car Insurance
Flexible, great value comprehensive car insurance for every-day Australians. Option-up your cover to suit your needs. And our $75 online discount makes the choice even easier. Winner of Mozo's Exceptional Value Car Insurance 2020.^
- 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 ($0 excess for repair only). Option to reduce windscreen replacement excess to $0 for an additional premium.
- Modifications
- Automatically covered.
- Young driver excess imposed
- $600 for listed drivers under 25, $1,600 for unlisted drivers under 25.
- Roadside assistance
- No
- Other benefits
- -
- Other restrictions
- -
Read our Mozo Review to learn more about QBE Comprehensive Car Insurance
^See information about the Mozo Experts Choice Car Insurance Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.