2022 Car Insurance Star Ratings and Awards: How much could you save?

Drivers could save around $609 per year by making one simple switch, new Canstar data has found.

Each year, Canstar assesses and rates comprehensive car insurance policies as part of our Car Insurance Star Ratings and Awards. We compare the price and features of each policy and recognise the top-performing policies with a 5-Star Rating.

By simply switching to a 5-Star Rated policy, drivers could save themselves $609 per year on average compared to other policies on our database, Canstar has found.

At a glance:

• Numbers crunched:
  • 42 providers assessed
  • 53 policies rated
  • 42 consumer profiles considered
• Winners list:
  • Outstanding Value – National Award winners: Bingle, Budget Direct, Coles Insurance
  • Outstanding Value – State and Territory Award winners: Bingle (SA), Budget Direct (NSW, NT, Vic, WA), Coles (Qld), Allianz (Tas)
  • Outstanding Claims Service Award winner: Suncorp

The savings could be even higher depending on where you live. For example, Canstar found that New South Wales drivers could stand to save $854 per year by choosing a 5-Star Rated policy, while drivers in Victoria could save about $744 per year.

Canstar also considers drivers of various ages and genders. For example, we found that an under 25 male driver could save a whopping $916 by changing to a 5-Star policy, while families with a young driver could save about $911 on average.

To see which policies were given a 5-Star Rating, you can view the results document or use our comparison tables.

Canstar also bestows its annual Outstanding Value Car Insurance Awards on the insurance providers that have performed strongly on overall value for various types of policyholders, and has an Outstanding Claims Service Award to recognise providers that have performed strongly come claim time.

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2022 Car Insurance Award winners – national

Bingle, Budget Direct and Coles Insurance (listed below in alphabetical order) have won Canstar’s national award for Outstanding Value Car Insurance in 2022. Budget Direct’s win marks the 16th consecutive time it has received the national award – an impressive achievement.

Bingle

This is the fifth year that Bingle has won Canstar’s national award. Bingle continues to offer competitively priced premiums on its comprehensive car insurance. Customers are covered for events like accidental damage, hail and storm damage, theft of car, fire damage and flood damage. In addition to the national award, Bingle has also won the state award for South Australia.

Budget Direct

Budget Direct has now won the national award for 16 years in a row, having done so every year since Canstar began rating car insurance in 2007. Budget Direct continues to offer customers car insurance at a competitive price point with a high level of cover. Its comprehensive car insurance customers are covered for loss or damage from events like collisions and crashes, theft, fire, storm, hail and floods. Other benefits include new car replacement and a hire car following a no-fault accident or theft. Budget Direct has also performed strongly on a state and territory level, winning the awards in New South Wales (which also considers policyholders in the ACT), Victoria, Western Australia and the Northern Territory.

Coles Insurance

Coles Insurance has won the national award for car insurance for the second year in a row. Coles offers competitive premiums, along with strong policy features and cover levels on its comprehensive car insurance. Customers are covered for events like accidental and malicious damage, storm, fire, flood and hail, emergency repairs, towing and accommodation, and theft. Coles has also picked up this year’s state award for Queensland.

2022 Claims Service Award winner

Suncorp has won Canstar’s Outstanding Claims Service Award in 2022.

This is the seventh year in a row that Suncorp has won this Award. The Award this year was based on a national survey of 8,864 policyholders, combined with our researchers’ assessment of the claims-related features on offer from each eligible provider. The survey asked customers to score their insurance provider based on their recent car insurance claims experience. This included their satisfaction with factors like communication, ease, process, quality, speed and timeliness. Canstar’s researchers considered any policy features related to claims, such as emergency repairs and accommodation and car hire.

For more on how the Star Ratings and Awards were assessed, read our methodology document.

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Main image source: Ratana21/Shutterstock.com.

About Canstar’s Research team

Canstar’s Research team provides the expertise that powers our Star Ratings and Awards, designed to help consumers make better-informed financial decisions. As Australia’s biggest financial comparison site, Canstar researches and rates products from more than 775 brands, across more than 30 finance categories. Our expert researchers analyse products we rate by comparing price and features, with the top products being recognised with a 5-Star Rating. Our Star Ratings are made available for consumers to view for free via Canstar’s comparison tables. Providers whose products perform strongly in our Star Ratings may be recognised with an Outstanding Value Award.

→ Discover Canstar’s latest Star Ratings and Award winners

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