When did you last review your car insurance? If it has been a few years, you might find that you could save some serious cash by shopping around.
There’s no excuse for not comparing car insurance policies. After all, you do get the reminder notice in the mail and, with the exception of a few companies, you do need to manually make the payment to renew the cover. Also, you can attract some fantastic discounts by switching your policy online.
Online discounts and sign-up incentives available (as at February 2019)
Offering discounts for applying for or purchasing new policies online has become common practice amongst insurance providers. They offer them to encourage more people to apply online because it’s a more efficient process than over the phone or in a branch, with lower overhead costs for the company.
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Below are some of the great discounts and incentives found on provider’s websites (at the time of writing) for buying car insurance online. The discounts are typically in comparison to the standard premium paid for a new policy purchased through the provider’s call centre.
Please note that the star ratings for any products displayed below are based on a male aged 30-39 living in WA who does not require cover for a driver under 25.
| Company | Online discount/incentive |
|---|---|
| AAMI | Save $50 on a new comprehensive policy or $20 on a new third party property damage by getting a quote online |
| AI Insurance | Up to 20% discount when you buy online |
| Allianz | Save up to 24% when you name your drivers and buy a new comprehensive car insurance policy online |
| Australia Post | Save 15% when you purchase a new Gold Comprehensive, Third Party Fire & Theft or Third Party Property car insurance policy online |
| Australian Seniors Insurance Agency | Save up to 20% when you buy a new policy online |
| Budget Direct | Save 15% on a Comprehensive or Third Party car insurance policy when you buy online |
| Company | Online discount/incentive |
|---|---|
| Bupa | 10% discount on car insurance for Bupa health members |
| Coles Insurance | Save 10% when you buy a comprehensive, third party fire & theft or third party damage car insurance policy online |
| CommInsure | Save up to 10% on your premium when you apply online. |
| Hume Bank | Save up to 10% when you buy a new comprehensive car insurance online |
| Latitude Financial | Get 15% off your policy when you apply online |
| Company | Online discount/incentive |
|---|---|
| NAB | Buy Comprehensive car insurance online and save up to 10% off first year’s premium + free roadside assistance for 12 months |
| National Seniors Insurance | Purchase comprehensive car insurance online and save up to 10% |
| Over Fifty Insurance | Save up to 10% when you buy online + 12 months’ roadside assistance when you purchase a new comprehensive policy |
| RAC | Get a $100 discount when you buy a comprehensive policy online + save up to 25% with a low-emissions car + up to 10% off for existing RAC members |
| RACQ | Get a $50 discount when you buy comprehensive car insurance online |
| Real Insurance | Save up to 10% when you buy online |
| SGIC | Save $100 when you buy a comprehensive or comprehensive plus car insurance policy online, or $20 when you buy a third party property damage or third party fire & theft car insurance policy online |
| SGIO | Save $100 when you buy a comprehensive or comprehensive plus car insurance policy online, and $20 when you buy a third party property damage or third party fire & theft car insurance policy online |
| Company | Online discount/incentive |
|---|---|
| Suncorp | Get up to $50 off when you get a quote online |
| Virgin Money | Save 15% on a Price Saver comprehensive policy when you buy online + up to 20,000 Virgin Australia Velocity Frequent Flyer points when you purchase a new comprehensive policy by 1 April 2019 |
| Company | Online discount/incentive |
|---|---|
| Westpac | Save up to 25% on Comprehensive Car Insurance when you buy online. |
| Woolworths Money | Guaranteed price beat on Comprehensive car insurance for drivers aged 25 and over + save up to 10% when you buy online |
Source: Providers’ websites. Information gathered 4 February 2019. Correct at time of writing.
NOTE: Some of these discounts might not apply to extra premiums for optional covers (such as windscreen cover). Also, the discount or saving usually only applies to the first year of premiums. Be sure to read the full terms and conditions of the offers before you apply.
Keep in mind…
While discounts and bonuses sound great, keep in mind that a policy offering an online discount isn’t always better value than one that doesn’t offer one. You’ve got to take into account the quality of the coverage you’re getting for your money.
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