Why you might need tailored car insurance right now

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By Tara McCabe ·

Remember pre-pandemic commuting? Trains and buses were packed Monday to Friday, morning and night, in cities all across the country. 

Now everything has changed. 

Borders are starting to reopen but there are still plenty of workers either staying at home or only venturing into the office a few times a week. 

Over 50% of Australians intend to limit their use of public transport over the next few months, according to a Deloitte survey. Further research from McKinsey shows that more people intend to drive to avoid crowded stations.

Where once many cars were used mainly at weekends, now they are being driven all the time, now and then or in some cases not at all. In these strange times, a one-size-fits-all approach to car insurance no longer cuts it for many of us, which is why we’ve come up with a list of comprehensive policies that offer greater flexibility. 

We had a look through our database to see which car insurers give customers the ability to tailor their policy, both in terms of price and features.

Some tailored car insurance policies to consider

  • Online-only insurance to reduce premiums
  • New for old replacement cover optional
  • Make claims online

If you want to make sure your wheels are covered in case of an accident but you’re not too fussed about extra bells and whistles, you might want to check out Bingle’s Comprehensive Car Insurance. An online-only insurer, Bingle is all about cutting costs for its customers. With this particular policy you have the option to choose to add certain features, such as ‘new for old replacement cover.’ So, if your car has been around for longer than three years, then you could cut costs and simply not add that extra onto your policy. Plus, you can make claims online via Bingle's website.

  • Driver age restriction
  • Low kilometres policy available
  • Option to add choice of repairer

In these tough economic times, being able to reduce costs wherever possible can only be a good thing. One way you could do that is with Budget Direct’s Comprehensive Car Insurance. Not only does this policy offer multiple driver age restrictions to reduce your premium, you could be eligible for the Gold Low Kilometres Comprehensive Policy if you currently drive less than 10,000km per year. Or if you want to increase your options, you could add ‘choice of repairer,’ reduced window glass excess or/and accident hire car cover.

  • Monthly-subscription style policy
  • No cancellation fees
  • Flexible transport cost cover following an accident

Innovative new insurer Poncho offers comprehensive cover that works just like a Netflix subscription. Premiums are charged monthly, you won’t be locked into a contract and there are no cancellation fees. So, if in these uncertain times you find that you won’t be needing your car for a few months, you could cancel your policy and pick it up at a later date to save yourself a bit of money. Plus, while traditionally comprehensive car insurance policies will give you cover to hire a car following an accident, Poncho gives you the option to take a ride-share or even catch a train or bus. The costs of which are covered up to $50 per day.

  • Restricted driver discounts
  • Reduced window glass excess available
  • Option to add choice of repairer

With Virgin Money’s Comprehensive Car Insurance there are multiple discounts on offer. These include an optional restricted driver discount, a 15% online discount off your first year’s premium and a no claims discount. Plus, if you want the option to pay less come claims time, you can add a reduced window glass excess. The excess in this case is $40. There’s even the option to add ‘choice of repairer’ if you want the flexibility of choosing a repairer not on Virgin Money’s list.

Getting the most out of your policy

If you’re not sure whether you want to switch policies right now, why not sit down and review what you’re paying for. You may decide that there are some optional extras that you don’t need. Or, if you’re driving less and your insurer hasn't offered you a discount, give them a call and ask for one.

Failing all that, if you are ready to change things up and none of the policies above strike your fancy, why not head to our compare car insurance page for more options.

*Any information provided on this page should be considered a summary and general advice only. All information should be verified before purchase via the relevant Product Disclosure Statement (PDS).

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.

Tara McCabe
Money writer

Tara McCabe writes across all areas of personal finance here at Mozo from banking through to insurance. Tara is expert at practical money tips, showing readers ways to live richer and be socially conscious while doing it. She earned a BA (Hons) in English Literature from Canterbury Christ Church University.