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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.

Today Virgin Money offers more than one type of third party and comprehensive car insurance. This includes Price Saver Comprehensive and Price Promise Comprehensive. Keep reading for more useful information on Virgin Money’s car insurance policies.

Virgin Money offers the following car insurance policies

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).

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers.

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:

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:

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:

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

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:

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 $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.

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.

Icon of car-insurances
Virgin Money car insurance
Overall
7.2/10
Value for money
Policy coverage
Customer service
Claims handling
Trust

51 Reviews

Recent Virgin Money car insurance reviews

Virgin Money Comprehensive Car Insurance review
Overall 9/10
Virgin Money are a reasonable insurance company.

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 review

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.

Value for money
9/10
Policy coverage
9/10
Customer service
8/10
Trust
9/10
Less
Belinda, Australian Capital Territory, reviewed 2 months ago
Virgin Money Comprehensive Car Insurance review
Overall 1/10
Worst! - 6 months down still waiting on a claim.

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 review

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!

Value for money
7/10
Policy coverage
7/10
Customer service
2/10
Claims handling
1/10
Trust
1/10
Less
Harshini, Victoria, reviewed 3 months ago
Virgin Money Comprehensive Car Insurance review
Overall 10/10
i like Virgin Money car insurance.

Good price, easy to deal with. Coverage is what I was after.

Read full review

Good price, easy to deal with. Coverage is what I was after.

Value for money
8/10
Policy coverage
6/10
Customer service
10/10
Trust
10/10
Less
Gina, Victoria, reviewed 4 months ago
Virgin Money Comprehensive Car Insurance review
Overall 4/10
Terrible service.

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 review

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.

Value for money
9/10
Policy coverage
8/10
Customer service
8/10
Claims handling
8/10
Trust
5/10
Less
Doro, Victoria, reviewed 5 months ago

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