Rates and fees verified as correct at 22 January, 2021. Other information correct at the time of writing. Advertiser disclosure.
| Product | Monthly premiums available | Maximum no claim discount | Online discount | Choice of repairer | |
|---|---|---|---|---|---|
| Price Saver Comprehensive | Yes costs extra | Not Published | 15% discount on first year’s premium | Optional Extra | Go to site |
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).
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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.
Virgin Money offers four types of car insurance. This consists of two types of third party insurance and two types of comprehensive insurance.
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.
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 an 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 $850 worth of emergency transport and accommodation cover. Up to $100 per day
Up to $1,000 worth of cover for hire car costs, following a theft.
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.
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.
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.
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.
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 $850 worth of cover, while Price Promise offers a maximum of $300.
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.
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.
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.
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% |
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:
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.
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.
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:
If there are any witnesses, their name and contact details
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.
51 Reviews
Virgin Money offered a nation-wide roadside assistance for around $80 which is comparable with other car insurers and I’ve used it several times when I’ve broken down, including taking it to one of their sponsored repair garages. While they fixed one problem that needed attention, they missed another bigger problem which was eventually identified by a small garage in the city, but not before the car overheated a number of times. I can’t hold the insurer responsible however for this. I haven’t had to make a claim on my comprehensive insurance company, so I can’t comment on how easy or otherwise they are to deal with. I’ve dealt with customer service to get and renew the insurance. My credit card had changed since I took out the policy and they emailed me to advise the renewal transaction didn’t go through. I missed seeing the email for a couple of days during which time I was uninsured. I think they tried to ring me, but can’t remember. When I spoke to them to pay over the phone, though that went through okay, they forgot to email me my insurance policy documents so that I could check them. I had to phone them again to get the documents and this time the customer service agent was very efficient and emailed them through to me promptly. I really hope that if I need to make a claim that it would go smoothly, but my interaction with customer service so far hasn’t given me any insight into how it would go.
Read full reviewVirgin Money offered a nation-wide roadside assistance for around $80 which is comparable with other car insurers and I’ve used it several times when I’ve broken down, including taking it to one of their sponsored repair garages. While they fixed one problem that needed attention, they missed another bigger problem which was eventually identified by a small garage in the city, but not before the car overheated a number of times. I can’t hold the insurer responsible however for this. I haven’t had to make a claim on my comprehensive insurance company, so I can’t comment on how easy or otherwise they are to deal with. I’ve dealt with customer service to get and renew the insurance. My credit card had changed since I took out the policy and they emailed me to advise the renewal transaction didn’t go through. I missed seeing the email for a couple of days during which time I was uninsured. I think they tried to ring me, but can’t remember. When I spoke to them to pay over the phone, though that went through okay, they forgot to email me my insurance policy documents so that I could check them. I had to phone them again to get the documents and this time the customer service agent was very efficient and emailed them through to me promptly. I really hope that if I need to make a claim that it would go smoothly, but my interaction with customer service so far hasn’t given me any insight into how it would go.
We bought this insurance as it was competitively priced. However we should have checked reviews prior to purchasing as it is rated one of the worst insurance for claims. Unfortunately we had to go through a claims process for a minor accident which was the fault of the 3rd party. The accident happened in March 2020 and currently in Sept 2020 (6 months later) we are yet to get a resolution from Virgin despite multiple follow-ups from us. It has been an incredibly frustrating process as we as the client need to follow up with them as they never provide any update as promised. It has been a long and weary process for such a minor accident which should have been resolved ages ago. I would discourage anyone from going with Virgin if anyone is hoping to get a claim resolved!
Read full reviewWe bought this insurance as it was competitively priced. However we should have checked reviews prior to purchasing as it is rated one of the worst insurance for claims. Unfortunately we had to go through a claims process for a minor accident which was the fault of the 3rd party. The accident happened in March 2020 and currently in Sept 2020 (6 months later) we are yet to get a resolution from Virgin despite multiple follow-ups from us. It has been an incredibly frustrating process as we as the client need to follow up with them as they never provide any update as promised. It has been a long and weary process for such a minor accident which should have been resolved ages ago. I would discourage anyone from going with Virgin if anyone is hoping to get a claim resolved!
Good price, easy to deal with. Coverage is what I was after.
Read full reviewGood price, easy to deal with. Coverage is what I was after.
Terrible people on their call center, did not want to answer my query at all. Good price but they will not keep you even for one claim made.
Read full reviewTerrible people on their call center, did not want to answer my query at all. Good price but they will not keep you even for one claim made.
