Our Best Car Insurance Policies for Victoria

Looking for a new car insurance policy? See the top rated car insurance policies in Victoria according to our 2017 Car Insurance Star Ratings.

It’s no secret that your age and driving ability can impact the premiums you pay and the policies available to you for car insurance. Another key factor is where you live. Canstar’s latest car insurance research found some car insurance providers offered significantly better value in some states than others.

The tables below showcase the highest rated car insurance policies on Canstar’s database for drivers in Victoria. So, if you live in the Garden State and want to check out potential car insurance policies, it could be worth reading on.

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Our best Victorian car insurance policies for young drivers

Car insurance is often more expensive for drivers under the age of 25, as they are considered more likely to be in an accident and make claims. So, it’s especially important for young drivers to find a good value policy.

To help with this, the two tables below provide a snapshot of the top 5 car insurance policies available for drivers under 25, sorted by star rating (highest to lowest).

Male under-25 driver in Victoria with no extra driver under 25

 

Female under-25 driver in Victoria with no extra driver under 25

Our best Victorian car insurance policies for 30-49 year olds

People aged 30-49 generally have cheaper premiums than under-25s. They tend to be more experienced behind the wheel, and insurers are more likely to offer them lower premiums as a result.

The table below provides a snapshot of the top 5 car insurance policies available for drivers between the ages of 30 and 49 with no extra driver under 25, sorted by star rating (highest to lowest).

Our best Victorian car insurance policies for over 50s

People aged 50 to 59 can often enjoy even cheaper premiums than those in their thirties and forties because they are typically viewed as better drivers by insurers due to a wealth of experience.

The table below shows the top 5 car insurance policies for people aged 50-59 with no cover for an extra driver under 25, sorted by star rating (highest first).

Our best Victorian car insurance policies for seniors

Premiums start to rise once you hit 60, as older drivers are often more likely to make a claim. This is mainly because the older you get, the more susceptible you can be to health problems that could affect your driving, such as impaired hearing and vision, slower reaction times, physical problems like arthritis, and heart issues.

There are also a number of restrictions placed on senior drivers that vary depending on where you live. In Victoria, drivers who are 75 or older need to renew their licence every three years, but can self-assess their physical wellbeing.

The table below shows the top 5 car insurance policies for people aged 60+ with no cover for an extra driver under 25, sorted by star rating.

How much does car insurance cost in Victoria?

Age and driving experience aren’t the only factors that influence car insurance premiums – where you live can also increase or decrease your premiums. For drivers in Victoria, the premiums they can expect to pay (on average) are up there with New South Wales as the most expensive in the country.

The table below shows a breakdown of what Victorians can expect to pay for car insurance on average, based on our 2017 Car Insurance Research.

Car Insurance Premiums 2017 – Victoria
Age Average Premiums 2017 ($/year)
Under 25 Female $1,765.76
Under 25 Male $1,965.42
25-29 $900.19
30-49 $656.61
Family $2,113.28
Over 50 $568.89
Source: Canstar Research, May 2017

It’s worth noting these are the average figures. There’s a good chance you could find a provider that will cover you for less if you look around!

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Compulsory Third Party (CTP) insurance

Compulsory Third Party (CTP) insurance is compulsory in Victoria, as it is in all other states and territories. It is designed to cover the cost of compensation claims made against a driver if they injure or kill someone on the road.

Victoria’s compulsory third party (CTP) scheme has operated on a no-fault basis since 1971, meaning that either party is eligible for cover even if they are the one that caused the accident. In some states, there are specific providers that offer CTP insurance, but in Victoria, it is solely offered by the Transport Accident Commission (TAC). The TAC is a government-owned organisation led by a Board of Management, whose Directors are drawn from the Victorian community.

When you buy a new car, the cost of CTP insurance is built into the registration payments. By obtaining cover for third party damage, you are protected from all personal injuries on the road. If you’re not sure about what each of the various types of car insurance covers, then hopefully our table below will clear it up for you:

This is how the coverage varies between different levels:

Type Damage to your car Damage to other people’s property (e.g. other cars) Damage or loss caused by theft of your car Injuries or death to other people in an accident
Compulsory third party Cross Cross Cross icon tick
Third party property Cross icon tick Cross Cross
Third party property, fire and theft Cross icon tick icon tick Cross
Comprehensive icon tick icon tick icon tick Cross
Related Article: Victoria CTP Insurance

Outstanding Value Car Insurance for Victoria

Budget Direct, one of Canstar’s National Award Winners for 2017, also took out our State Award for Outstanding Value Car Insurance in Victoria, in addition to New South Wales, Queensland, Western Australia and Tasmania.

Outstanding Value Car Insurance - NSW

Budget Direct is just one of several 5-Star winners in Victoria alone, while there are dozens of other providers rated by Canstar. To compare all of them, visit Canstar’s comparison tables to get help finding one that suits your needs:

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