based on 402 Virgin Money product reviews as rated by Mozo community

Virgin Money car insurance

You’ve probably heard of the global brand that is Virgin airlines, but have you heard of Virgin Money? As the name suggests, Virgin Money deals less in plane tickets and more in credit cards and insurance. Virgin Money launched in Australia in 2003 and started offering car insurance over ten years ago in 2009.

Virgin Money offers the following car insurance policies

Cover information and limits in the table below verified as correct at 18 April 2024. Other information correct at the time of writing.
Advertiser disclosure.

Product Monthly premiums available Maximum no claim discount Online discount Choice of repairer
Comprehensive Car Insurance

Yes costs extra

Not Published

15% discount on first year’s premium. Earn 10,000 velocity points when you buy a new comprehensive car insurance by 30th September 2024 and hold it for at least 6 months.

Optional Extra

Who underwrites Virgin Money insurance?

All of Virgin Money’s car insurance policies are underwritten by the Auto & General Insurance Company. Auto & General has been operating in Australia since 2000. It is a member of the Insurance Council of Australia and is regulated by the Australian Prudential Regulation Authority. 

What type of car insurance does Virgin Money offer?

Virgin Money offers four types of car insurance. This consists of two types of third party insurance and two types of comprehensive insurance. 

What type of comprehensive car insurance does Virgin Money offer?

If you’re interested in purchasing Virgin Money’s comprehensive car insurance policy you will have two versions to choose from. These are the Price Saver and Price Promise comprehensive policies. 

Generally speaking, the Price Saver comprehensive car insurance policy offers a higher and all-around broader level of cover. Plus, it comes with a 15% discount off your first year’s premium, when you purchase online. So, it may be more suited to someone who likes searching for insurance for their wheels, from the comfort of their own web browser.

On the other hand, if you would rather get on the phone and talk to an actual person, you may be more interested in the Price Promise policy. This version doesn’t come with a 15% discount, but it does offer a second-year price promise. This promises that your premium will stay the same in the second year of your policy, granted that your situation doesn’t change. To purchase this policy you can call Virgin Money on 1800 887 707.

What does Virgin Money’s Price Saver comprehensive car insurance cover?

It’s important to know just what your car insurance policy covers you for. Here are a few of the major things your Virgin Money Price Saver comprehensive plan will cover the costs of:

  • Legal liability cover, up to $20 million

  • Accidental damage cover

  • Storm, flood, hail and fire damage cover

  • Collision cover

  • Cover for damage caused by attempted theft or malicious act

  • New car replacement. If your car is written off within two years or 40,000 kilometres from the original registration

  • Up to $1,000 worth of emergency transport and accommodation cover. Up to $200 per day

  • Up to $1,000 worth of cover for hire car costs, following a theft (14-day limit).

  • Up to 14 days worth of cover for a hire car following a no-fault accident.

  • A lifetime guarantee on authorised repairs (for as long as you own the car)

  • Up to $500 worth of cover for personal items (includes theft and forced entry)

  • Plus, up to $500 worth of cover for child seats

  • Up to $1,000 worth of cover for replacement car keys

You will also receive access to Virgin Money’s Hail Hero app which provides SMS alerts to warn you of upcoming hail events.

What optional extras does Virgin Money offer?

There are a few extras on offer, should you wish to tailor your policy to your individual needs more. These include:

  • No claim discount protection

  • A choice of market value or agreed value

  • Reduced windscreen excess

  • The option to nominate your preferred repairer

  • Accident hire car cover (for at-fault accidents)

  • Roadside assistance cover.

What is included with Virgin Money’s roadside assistance cover?

Virgin Money offers roadside assistance as an optional extra, meaning you will have to pay a bit more to get it. It includes cover for if:

  • your car breaks down and needs to be towed

  • your wheels have a flat battery

  • your car runs out of fuel

  • your car has a flat tyre

  • your keys are locked inside your car, or you lose your keys.

With this cover, you are entitled to an unlimited number of call-outs over the course of one year. Cover includes:

  • Technical phone assistance

  • Up to $20 worth of cover for minor roadside repairs

  • Breakdown towing, up to 15km in metropolitan areas and 50km in rural areas

  • Assistance for a flat battery

  • Up to $125 worth of cover for lost keys

  • Up to $15 worth of cover for fuel costs, should you run out

  • Help with tyre changes

  • Help with arranging a hire car, if you are more than 100km from home

  • Help with arranging accommodation, if you are more than 100km from home.

It should be noted that unless you have a comprehensive policy that includes hire car and emergency accommodation cover, you will have to pay for these yourself.

What does Virgin Money’s comprehensive car insurance not cover?

As with all car insurance policies, there are a number of exclusions. Some things that Virgin Money will not cover you for are:

  • General wear and tear of your vehicle

  • Incidents that happen outside Australia

  • Tyre damage caused by punctures, cuts or bursts

  • Liability for damage caused by someone not listed on your policy, or excluded by age.

Read Virgin Money’s product disclosure statement for a full list of general exclusions.

More FAQs about Virgin Money car insurance

What is the difference between the comprehensive Price Saver and Price Promise policies?

If you’re tossing up between Virgin Money’s comprehensive Price Saver and Price Promise policies, it is worth noting that there are a few variations. These include:

  • Discounts: Price Saver offers a 15% discount for purchasing online, but Price Promise does not. Although, Price Promise does promise that your premium will stay the same in the second year of your policy (as long as your situation doesn’t change).

  • New car replacement: With Price Saver, you will be covered if your new car is written off within two years or 40,000km. For Price Promise, it is a shorter period of within 12 months.

  • Emergency accommodation and transport: Price Saver offers up to $1,000 worth of cover, while Price Promise offers a maximum of $600.

  • Personal items cover: Maximum cover with Price Saver is $500 and $250 with Price Promise.

  • Caravan cover: Up to $1,000 worth of cover with Price Saver and up to $500 worth of cover with Price Promise.

  • Death benefit: Price Promise does not offer a death benefit, while Price Saver comes with a death benefit of up to $5,000.

What excess option should I go for?

A Virgin Money plan allows you to choose between a low or high excess level. The rub is though that if you choose a low excess, you’ll pay a higher premium and vice versa.

So whether a low or high excess is right for you will largely depend on your budget and how likely you think it is you’ll make a claim.

Does Virgin Money offer any discounts?

Snagging discounts can be a great way to keep the cost of your car insurance low. Some that you might be able to apply to your Virgin Money policy include:

  • A no claims discount

  • A 15% discount for buying the comprehensive Price Saver policy online

  • A restricted drivers discount

  • One-off promotions.

How does Virgin Money’s no claims discount work?

If you haven’t heard of it before, a no claims discount is something that a number of car insurers offer. Quite simply it is money off for driving safely.

To get it with Virgin Money you will have to have a comprehensive policy and a good claim history. Virgin may also give you the no claims discount if your previous insurer did. For each year that you do not make an at fault claim, Virgin Money will increase your no claims discount by one rating. This will go on until you reach the maximum rating (rating 1), which is a 15% discount. The ratings and corresponding discounts are as follows:

No claims discount rating

Percentage of discount

1

15%

2

12%

3

9%

4

6%

5

3%

6

0%

How is my premium calculated?

Your premium is worked out according to how likely it is you’ll make a claim on your policy - the more likely it is you’ll claim, the more you’ll pay. So, when you get an insurance quote, Virgin Money will be trying to work out how safe you are as a driver and car owner. Some things that might influence that decision include:

  • The make, model and colour of the car you drive
  • Where you live and where you keep your car
  • Who you are - your age, gender and driving experience

How can I pay my premium?

When you take out a car insurance policy, you often get the choice between paying your premium all in one lump sum, or as monthly instalments. Virgin Money is no different, but keep in mind that if you choose the monthly option, you will pay extra for the convenience.

How is Virgin Money rated by customers?

So now you know the important details of a Virgin Money car insurance policy - but what about other things that you really won’t know unless you’ve bought a policy and made a claim, like how simple the claims process is, or what Virgin Money customer service is like? Well, we’ve thought of that too. Head over to our customer review section to read all about it.

How to make a claim

In the best case scenario, you’ll never need to make a claim on your car insurance policy. But just in case you do, it's a good idea to know what information you’ll need to make your claim successful. For a Virgin Money policy, this includes:

  • Your name
  • Your contact number
  • Your address
  • Vehicle registration details for your car and any others involved
  • You licence number
  • A report of what happened

If there are any witnesses, their name and contact details

How is Virgin Money car insurance rated?

Mozo users have rated Virgin Money car insurance on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.

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Virgin Money car insurance
Overall
Value for money
Policy coverage
Customer service
Claims handling
Trust

70 Reviews

Recent Virgin Money car insurance reviews

Virgin Money Comprehensive Car Insurance
Overall 1/10
Abysmal service

Such bad (or lack) of customer service. Cant get through to anyone on the phone after numerous waits between 30-45 minutes. Opted for their 'convenient' SMS service which was also plagued with delays and terse responses. Not helpful at all. Finally got a message my car had been authorised for repair, but no time frame given. Called the panel beater direct for timing, only to be told car was being written off and shipped offsite the next day, so had to be there at opening the next morning to get my belongings from car. Got charged excess, because they didnt bother to investigate claim - I had 3rd party witness that I was stationary when vehicle ran into back of me. Also no refund on remaining months of policy, Saved a few bucks initially with the policy, but feel like I need therapy after going through their claims process - left me very unsatisfied frustrated.

Read full review

Such bad (or lack) of customer service. Cant get through to anyone on the phone after numerous waits between 30-45 minutes. Opted for their 'convenient' SMS service which was also plagued with delays and terse responses. Not helpful at all. Finally got a message my car had been authorised for repair, but no time frame given. Called the panel beater direct for timing, only to be told car was being written off and shipped offsite the next day, so had to be there at opening the next morning to get my belongings from car. Got charged excess, because they didnt bother to investigate claim - I had 3rd party witness that I was stationary when vehicle ran into back of me. Also no refund on remaining months of policy, Saved a few bucks initially with the policy, but feel like I need therapy after going through their claims process - left me very unsatisfied frustrated.

Value for money
3/10
Policy coverage
3/10
Customer service
1/10
Claims handling
1/10
Trust
1/10
Less
Mick, Victoria, reviewed 10 months ago
Virgin Money Comprehensive Car Insurance
Overall 1/10
Worst Insurer I have ever dealt with

Insured a BMW iX 50 (2021) with them last October. Purchased a new iX (2023) Monday. Called them on preceding Thursday to advise of the transfer of insurance for the Monday. All agreed but they asked me to get back to them on Monday. Monday they advised that it had been referred to underwriter and car too expensive to insure. Crazy given they had insured the previous one for the same money. Trying to speak with someone in charge was hopeless. They had to email underwriting back and fort. After a couple of hours wasting my time, went online and insured with RACV which had a much better policy but slightly more expensive than Virgin. No fuss with RACV and excellent to deal with.

Read full review

Insured a BMW iX 50 (2021) with them last October. Purchased a new iX (2023) Monday. Called them on preceding Thursday to advise of the transfer of insurance for the Monday. All agreed but they asked me to get back to them on Monday. Monday they advised that it had been referred to underwriter and car too expensive to insure. Crazy given they had insured the previous one for the same money. Trying to speak with someone in charge was hopeless. They had to email underwriting back and fort. After a couple of hours wasting my time, went online and insured with RACV which had a much better policy but slightly more expensive than Virgin. No fuss with RACV and excellent to deal with.

Value for money
5/10
Policy coverage
2/10
Customer service
1/10
Trust
1/10
Less
Clive, Victoria, reviewed 11 months ago
Virgin Money Comprehensive Car Insurance
Overall 1/10
DO NOT GO TO VIRGIN FOR CAR INSURANCE

No communication Lack of service hard to reach or get a response. Will try not to make payment claims

Read full review

No communication Lack of service hard to reach or get a response. Will try not to make payment claims

Value for money
1/10
Policy coverage
1/10
Customer service
1/10
Claims handling
1/10
Trust
1/10
Less
Teresa, New South Wales, reviewed 12 months ago
Virgin Money Comprehensive Car Insurance
Overall 1/10
Taking advantage of Flood victums car claims

Appalled at the service and handling of my car insurance claim after my car was flooded in Victoria. My whole family have been paid out and has bought new vehicles. My car was on the news on every channel - How is that not evidence. Virgin Money claims are managed by Auto and General, which have managed the claim unlawfully. My car was inundated by flood water, and it has taken them over a month to assess. What to assess, it's a write-off??? They are attempting to manipulate me by offering to pay for a 15-year-old car instead of the 3-year-old car I had. After over a month and they are still wanting me to wait another 10 - 30 days. Bad Bad Bad customer service and internal management system that hires incompetent. I will NEVER insure with them again.

Read full review

Appalled at the service and handling of my car insurance claim after my car was flooded in Victoria. My whole family have been paid out and has bought new vehicles. My car was on the news on every channel - How is that not evidence. Virgin Money claims are managed by Auto and General, which have managed the claim unlawfully. My car was inundated by flood water, and it has taken them over a month to assess. What to assess, it's a write-off??? They are attempting to manipulate me by offering to pay for a 15-year-old car instead of the 3-year-old car I had. After over a month and they are still wanting me to wait another 10 - 30 days. Bad Bad Bad customer service and internal management system that hires incompetent. I will NEVER insure with them again.

Value for money
1/10
Policy coverage
1/10
Customer service
1/10
Claims handling
1/10
Trust
1/10
Less
Sue, Victoria, reviewed over 1 year ago
See all car insurance reviews
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