Car insurance in Tasmania
Tasmania has plenty to see, and a car is often the best way to get around. So it makes sense that car insurance is something that drivers might like to consider. Depending on your needs and budget, you can choose the level of cover that suits you best.
Here are the different types of car insurance available to drivers in Tasmania.
Compulsory Third Party insurance
Compulsory Third Party (CTP) insurance in Tasmania is managed by the Motor Accidents Insurance Board (MAIB) rather than private insurance companies. A CTP premium is included each year as part of your car’s annual registration renewal fee. However, CTP only covers you for the cost of any claims if you injure or kill someone in a car accident. It doesn’t insure you for any damage to property, including your own car.
Third party property insurance
Third party property insurance covers you if you damage someone else’s property in an accident. Your own car is not normally protected under this type of insurance. Some insurers may cover your car under third party property insurance though it is typically for a limited sum, often as little as $5,000.
Third Party Fire & Theft insurance
Further along the scale is third party fire and theft insurance. This generally provides the same type of cover as third party property policies with the additional benefit that your car is insured if it is stolen or catches fire. Here too, the level of cover for your car can be limited, potentially limited to a maximum of $10,000.
Comprehensive car insurance
Comprehensive car insurance in Tasmania can provide a broad range of protection. While policy details can differ between insurers, you are normally covered for the cost of repairs or replacement of your car if it is stolen, damaged by collision or fire, or if it experiences malicious damage and even weather-related damage.
Comprehensive car insurance usually also includes cover for damage you cause to someone else’s car or property in a collision. Use the table at the top of this page to compare features of a wide range of comprehensive car insurance policies for Tasmania, and use the filters to narrow down your search.
What’s the best car insurance in Tasmania?
When it comes to car insurance, there is no ‘one-size-fits-all’ product that’s best for everyone. The matter of choosing the ‘best’ car insurance for your situation is subjective, and depends on your needs and budget.
If you only want to be insured for the damage you might cause to others’ vehicle and property, then third party damage insurance may be sufficient for your requirement. However, if you also want cover for your own car in case of an accident, fire, or flood, then comprehensive insurance—though more expensive—may be more appropriate.
The table above may be helpful to you in finding a car insurance policy that suits your needs. It lets you compare comprehensive car insurance covers from various providers, with filters to narrow down your results for greater relevance.
What optional extras are available with car insurance policies in Tasmania?
As with most car insurance policies across Australia, drivers in Tasmania can usually choose from a range of optional add-ons to customise their cover. These add-ons can offer extra peace of mind or fill coverage gaps in a standard policy. These may include:
Keep in mind that availability and costs vary between insurers, so it’s worth comparing policies and reading the Product Disclosure Statement (PDS) before choosing.
How can I get cheap car insurance in Tasmania?
The cost of car insurance in Tasmania can vary depending on several factors. Insurers typically consider things like your age, the make and model of your car, where you live, how your car is parked overnight, and any optional extras you add to your policy.
Beyond that, the level of cover you choose will also impact your premium. For example, comprehensive policies generally cost more than third party options, but they offer broader protection.
If you’re looking to reduce your premiums, there are a few things you could consider:
- Pay annually instead of monthly, as some insurers may charge less overall.
- Review your policy regularly to make sure it still suits your needs and budget.
- Look for deals and discounts, such as for bundling multiple policies.
- Maintain a good driving record. Your driving history can impact your insurance premium.
- Add security features. Installing an alarm or immobiliser, or parking your car in a locked garage, may reduce the risk of theft—and your premium.
- Select a higher excess, but make sure you can afford to pay this amount from your savings if you ever need to make a claim.
- Using your car less frequently could save you money if you opt for ‘pay-as-you-drive’ car insurance, which may offer lower premiums to drivers who stay under a set annual kilometre limit.
- If you’re taking out comprehensive car insurance in WA, your premium may vary depending on whether you choose market value or agreed value cover. The payout in the event of a total loss will depend on the option selected.
That said, the premium shouldn’t be the only factor you weigh up. The level of cover a policy provides can make a big difference to the value for money you receive.
The table above may be helpful to you in finding a car insurance policy that suits your needs. It lets you compare comprehensive car insurance covers from various providers, with filters to narrow down your results for greater relevance. You may also want to take a look at Canstar’s latest Car Insurance Star Ratings and Awards that compare car insurance policies based on both cost and features.
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