Youi car insurance customer discount during COVID-19 shutdown

Tara McCabe

17 Apr 2020

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If your wheels have been gathering dust in the garage due to COVID-19, then you might be interested to hear there could be a silver lining to your current lack of adventure.

Youi Insurance has pledged to give any new or existing car insurance customers who aren’t driving that often at the moment, a 15% cashback discount for the next three months.

As of today, new or existing customers can apply for a 15% temporary relief on their car insurance premium. So if you used to drive to work each day or were once a fan of road trips before the days of COVID-19, then you might want to look into getting some cashback.

How does it work?

If you’re an existing customer, you can simply login into your online account and click on the box that says, ‘Get 15% temporary relief on this car because it’s being used less due to COVID-19.’

You will then be asked the question: ‘Are you using this car less due to the COVID-19 crisis?’ If your answer is yes then you should be eligible to receive a 15% cashback on your premium for the next three months.

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Similarly for new customers, you will be asked the same question but at the quote stage of applying for a car insurance policy with Youi.

How much could you save over three months?

So, how much could you actually save over three months? Of course the exact amount will depend on how high or low your car insurance premium is, but to give you a rough idea, our data experts have come up with an example.

Say you had a Toyota Hilux SR5 four-door vehicle with a driveway price of $51,990: if you’re currently with Youi and you live in an inner-city Sydney suburb, then your monthly insurance premium could be around $173.35.

With this example, a 15% discount would work out to approximately $26 per month, that’s $78 over three months, which is certainly nothing to be sniffed at in these times of economic uncertainty.

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