Compare Comprehensive Car Insurance in Victoria

Compulsory Third Party (CTP) insurance

CTP insurance provides cover for car owners and drivers if they kill or injure someone in a car accident. CTP insurance does not cover damage to your car or damage to other people’s vehicles or property.

Third party property damage

Third party property damage provides cover for damage you cause to other people’s vehicles or property while using your car. It does not cover damage to your car, including fire and theft.

Third party fire and theft

Third party fire and theft provides cover for damage to your car caused by fire or theft. It also includes cover for damage to other people’s vehicles or property.

Comprehensive car insurance

Comprehensive car insurance provides cover for a wide range of circumstances. It typically provides you with cover for damage to your car caused by events such as accidents, fire, theft, as well as weather events like hail and storms. It also covers damage you cause to other people’s vehicles or property.

The best car insurance policy will depend on your circumstances and the level of cover you want. A third party policy can help you keep your costs down, but a comprehensive policy will cover you for a wider range of circumstances.

When comparing car insurance, ask yourself questions such as:

• Do you want to keep costs down or are you willing to pay more for a higher level of cover?
• How often do you think you will make a claim? Choosing a higher car insurance excess could make your premiums cheaper, but you’ll need to pay more out-of-pocket if you make a claim.
• Are there any specific risks you want to be covered for? For example, is your area prone to flooding? Do you want access to a hire car after an accident?
• Are there any features you are looking for? For example, some policies allow you to pay monthly at no extra cost, while others charge higher premiums for this. Some policies also come with roadside assistance.

If you are looking for comprehensive car insurance, Canstar’s expert Research team has rated a range of policies from different providers. This can help you to see which policies offer the best value for money overall, based on price and features.

The cost of car insurance will depend on what policy you choose, as well as your personal circumstances. Car insurance providers look at factors such as:

• Level of cover – comprehensive car insurance will be more expensive than third party insurance. If you choose to add optional extras to your policy, such as excess-free windscreen and window cover, this will usually add to the cost of your policy.
• Excess – the higher your excess, the lower your premiums are generally.
• Age and gender – younger drivers usually pay more for insurance as they are statistically more likely to get into accidents.
• Your driving habits and record – how often you drive and your driving experience can also have an impact on your premiums.
• Car you are insuring – the make and model of the car can influence the cost of car insurance, as well as any security features you have in place.
• Where you live – your postcode and where you keep your car will also influence the cost.

Car insurance premiums can also vary significantly between insurance providers so it can be worth shopping around and getting a number of quotes to compare your options.

When you are comparing car insurance, make sure you take into account both the price and the level of cover you are getting. For example, while third party property damage insurance is the cheapest car insurance option generally, it won’t provide you with cover for damage to your car, including from events like storms, hail, fire and theft.

Here are some ways you could lower the cost of your car insurance:

• Choose 5-Star rated car insurance – savings of over $600 may apply, on average, by choosing a 5-Star Rated car insurance product based on Canstar’s 2023 Car Insurance Star Ratings and Award results. Find out more.
• Increase your excess – choosing a higher excess will generally lower your premiums, but you’ll face higher out-of-pocket costs if you need to make a claim.
• Pay annually instead of monthly – some providers charge lower premiums if you choose to pay your car insurance annually instead of in monthly installments.
• Look for discounts – common discounts include online discounts for getting a quote online, multi-policy discounts for having multiple policies with one provider, age-based discounts and safe driving discounts.

Compare comprehensive car insurance in Victoria with Canstar, using the table at the top of this page, and see if you could get a better deal by switching providers or policies.