How I saved $150 on my car insurance

I was blown away when my car insurance renewal landed this year—over $158 more for the same cover! I hadn’t made any claims, and the only discount I was losing was a $50 first-year online discount, so the jump stung.

At Canstar, we often write about saving money, so I figured it was time to put my money where my mouth is and see how much I could shave off my own premium. So, here’s exactly what I did to score $150 off my policy:

Step 1: Note down what you’re currently covered for

• The type of car insurance you have: As far as optional car insurance goes, you could have either a Third Party Property Damage, Third Party Fire & Theft, or Comprehensive policy (this is separate to CTP insurance, which only covers injuries). I’ve got comprehensive cover because my Nan recently gave me her car after she stopped driving, and it’s worth a lot more than my old one.

• Details of your vehicle: Note down your licence plate number, as this can make it easier to find your vehicle when getting quotes. Alternatively, write down your vehicle’s make, model, and year. For those playing along, I’ve got a silver 2013 Hyundai i30.

• Your vehicle’s value: Your car will either be insured for its market value (what it would cost to buy a similar model on the open market) or for a value you and your insurer agree to. In my case, my car was valued at $8,400.

• Your personal details: To help determine your risk as a driver, your insurer will usually ask about your driving and insurance history, your date of birth and gender, and where your vehicle is parked during the day and at night, including the address and post code and the type of park (perhaps one in a locked compound, garage, or on the street).

• Your excess amount: This is the amount you agree to contribute when you make a claim on your insurance. Generally, the higher your excess, the lower your premiums. My old policy’s excess was $1,100.

• How much you drive: My old policy was a low-kilometre one; this allowed me to drive up to 5,000 kilometres per year, and in return, I received a discount. If I drove over this limit, I had to pay an additional excess when making a claim. To help estimate how much you drive each year, take a photo at the start of the week of your odometer and then another in a week’s time. Multiply this number by 52, and you’ll have a rough estimate. Make sure to give yourself a buffer for any road trips or longer drives you plan on doing.

• Other named drivers: If other people regularly drive your vehicle, you’ll generally have to list them on your policy. Some insurers may even give you a discount for doing so. This is important as you may have to pay additional excesses if a claim arises as a result of an unlisted driver. You can also restrict drivers below a set age to help lower your premium. I’m the only driver, so I list only myself and exclude anyone under 30.

• Any modifications you’ve made to your vehicle: Insurers will want to know if you’ve selected any factory options or made any after-market changes to your vehicle, such as to the engine, exhaust system, body, interior, suspension, or paintwork. Installing modifications will usually add to the price of your premium.

Having all these details written down can make it easier to compare quotes like for like. I personally didn’t want to lose out on coverage just to save on my premiums.

Compare Car Insurance

Step 2: Collect and compare quotes

You can use Canstar’s comprehensive car insurance comparison table to make a list of providers you want to get a quote from. The table also features our Star Ratings next to each policy, combining cost and coverage to show overall value. A 5‑Star policy means it offers outstanding value.

I collected quotes from four different providers to see what I could save. One provider quoted me $170 more than my renewal price, whereas others quoted savings of up to $80. Not bad to start, but I wanted to save more.

I decided to get a quote from a provider I hadn’t previously considered, as it didn’t offer an online discount. To my surprise, however, it came in $151 cheaper than my renewal price, only about $7 more than what I paid in 2025! It also sees the estimated market value of my car increasing to $9,500 (+$1,100), my allowed kilometres lifting to 6,000 (+1,000), and my excess dropping to $1,000 (-$100).

I’m also changing to a Pay as you Drive policy, which works a little differently to my old policy: I have to declare my current odometer and a 6,000km cap. If I claim after going over that cap, there’s an extra $1,000 excess. I can top up my kilometres during the year for an added premium, so I’ll monitor my usage.

Step 3: Apply for your new policy or give your provider a chance to match it

If you don’t necessarily want to leave your current provider, you can always give them the opportunity to match your new quote—you’d be surprised at what providers will do to keep your business.

In my case, however, I wasn’t losing out on any multi-policy or loyalty discounts, so I simply applied and paid for my new one. I always pay my premiums annually, as it’s often much cheaper than paying month-to-month. I then cancelled my old policy.

This kind of approach can apply to almost any form of insurance or credit product: list your details, get a few quotes, use Star Ratings to spot strong‑value policies, and check settings like driver‑age limits and kilometre caps match how you actually drive. I don’t like settling for a raw deal, which is why I’ll always compare my options before committing. What took less than an hour in life admin saved me over $150.