Compare car insurance in Victoria
Whether you spend most of your commute time mazing through Melbourne’s CBD or cruising along the scenic route to Ballarat or Bendigo, if you live in Victoria you know the importance of having your trusty set of wheels covered by a top-notch car insurance policy.
Car insurance can be a confusing creature, but it is important to understand how to compare policies so that you’re grabbing the best deal you can while getting the right level of cover for your trusty mode of transport.
That’s why Mozo has made it super easy to compare comprehensive car insurance policies. Using the comparison table above you’ll be able to see a range of car insurance policies specifically available to Victorian drivers. Plus their brightest and most competitive features, such as discounts on offer, the flexibility to choose your repairer, levels of excess as well as how long it will take you to get a quote.
What types of car insurance are available in Victoria?
In Victoria, as in most other states and territories in Australia, there are three main types of third party car insurance.
The most basic type is compulsory third party (CTP) insurance. As the name suggests this insurance is mandatory and in Victoria it is tied into your registration costs. It provides the driver cover for legal liability for injury or death.
The other two types of third party car insurance are third party property insurance and third party fire and theft insurance. These are both optional and are mainly designed to cover you for damage done to someone else's car. However, neither will cover to repair or replace your car if you are responsible for an accident. These are usually cheaper than comprehensive policies.
Comprehensive car insurance policies, on the other hand, offer the highest levels of cover. You get all the benefits of third party property cover, but your wheels are also covered for a range of circumstances, whether you’re at fault or not. These are the policies featured on Mozo in the table above. While they are pretty comprehensive, there will be variations between each one, so be sure to check the policy's PDS to know exactly when your cover will kick in and when it won't.
How much does car insurance cost in Victoria?
Your car insurance premium in Victoria takes some serious calculating, but what exactly is the insurance company weighing up when putting together your quote?
Well, some of the things that are usually taken into account include:
Your age and gender: Younger male drivers are generally considered to be more of a risk to insure than older women.
The age and colour of your vehicle: Newer, more expensive cars cost more to cover.
Where you live: This includes your address in Victoria and whether your car is garaged.
Projected mileage: Some insurance providers offer cheaper premiums for Victorians who don’t use their cars so often.
With every insurance provider working through the premium equation a little differently, it is super important not to just go with the first quote you get. Instead, shop around and identify a few policies you think would suit you and get quotes from all of them.
How to find the cheapest car insurance in Victoria
According to the Mozo Car Insurance Report, Victoria drivers are subject to the highest average car insurance premiums, sitting at $1,463 per annum. With such comparatively high costs in Victoria, it is no wonder people might be looking for ways to save on their car insurance. If you are a Victorian looking to trim down your premiums, some of the below tips might help you do just that:
Determine the type of coverage you need: What level of coverage you need is totally personal and up to you, except for the compulsory third party. What level of coverage you choose will dictate the price, with the least level of coverage generally resulting in a lower premium. However, do not only consider the price, quality of coverage is very important when looking at insurance.
Compare rates from multiple insurance companies: Shop around for the best rate you can find on the type of policy you decide is right for you. Mozo can help you compare Victorian car insurance policies to find the lowest rates.
Check for any applicable discounts: There are various discounts you can get in Victoria for car insurance including loyalty, no claims, multi-car and multi-policy discounts.
Consider increasing your excess to lower premiums: The more you agree to pay when you need to make a claim, which is called excess, the lower your premiums are. This can help save money in your budget, but can be tough to fork out if something goes wrong and you need to make a claim.
Maintain a clean driving record for lower rates: Insurance companies don’t want to cover risky drivers since they will be the most likely to claim, so keep safe on the roads to help lower your premiums.
What features should Victoria drivers look out for in a car insurance policy?
What you’re after is a car insurance policy that packs a punch. When it comes to features and while each policy is different, the more features stacked into one package, the wider the level of cover. Keep an eye out for:
Windscreen cover. Not always a standard feature on every car insurance policy, windscreen cover will cover any damage to your windscreen or any glass on your vehicle but could be accompanied by an extra excess to access this feature of your policy.
Choice of repairer. It is your car and you might want the luxury of sending it to a mechanic or panel beater of your choosing, if you are involved in a bingle.
Rental cover. While your car is at the mechanic or even worse, if it has been stolen, how will you get about? Rental cover is often an added option that could cover you in both situations, or just one ore the other.
Personal property. Our cars can often become a second, mobile wardrobe or a mini storage unit for our clothes, laptops or sunglasses. If that’s the case for you, keep an eye out for a generous personal property cover cap on your next comprehensive car insurance policy.
Roadside assistance. So you’ve broken down and you need help, ASAP. Roadside assistance is for times just like this and while most insurance companies won’t offer this as standard, some will meet your most immediate mechanical needs for an additional premium
Victoria is home to some extreme weather conditions, resulting in unfortunate natural disasters. Consider a policy that includes cover for:
Bushfires
Floods
Cyclones
If you live in a metropolitan area in Victoria, like Melbourne, you might also want to consider the following cover to protect yourself:
Theft
Personal assets
Windscreen Coverage
What's the best car insurance in Victoria?
When looking for a new policy, most people want to find the best car insurance in Australia to cover their rides. So, a great place to start is by checking out the winners in the Exceptional Value and Exceptional Quality categories in the latest Mozo Experts Choice Car Insurance Awards for 2023.
The Mozo experts analysed over 10,000 car insurance quotes to find the best value policies for the widest range of customers. Check out the methodology report for more information.
However, not all policies are one-size-fits-all, so it’s important to bear this in mind when comparing car insurance policies in Victoria.
