Something big has been happening in the world of car insurance. The industry has undergone somewhat of a shake-up that could bring exciting new ways to save money and drive better value out of your insurance policy in 2024. In Australia, we’ve seen the launch of innovative new pay as you go car insurance options from Rollin’ Insurance and online challenger Kogan enter the market with enticing discounts. Traditional insurance players like Budget Direct and Virgin Money aren’t resting on their laurels either. They’re offering an online discount of up to 15% to encourage drivers to stop paying the lazy tax for sticking with their current insurance company instead of comparing options at renewal time.
1. Pay month-to-month with no cancellation fees
ROLLiN’ Comprehensive Car Insurance*
ROLLiN’ is shaking up car insurance with a new pay-as-you-go approach that lets you pay month-to-month without any lock-ins or cancellation fees. So if you don’t need to drive for a certain amount of time, you can simply cancel your cover without penalty and pick it back up when required. You’ll enjoy 24/7 online claims support and a lifetime guarantee on authorised repairs, plus if you accidentally damage your windscreen, sunroof or window glass, ROLLiN’ will fix them for free (once per insurance period). The standard is excess is $800 (including under 25s) but $3,000 for any unlisted driver so make sure regular drivers are listed on the policy.
2. Award winning policy and get a discount in first year
Virgin Money Price Saver Comprehensive*
This low cost policy from Virgin Money offers a no claim discount up to 15% and plenty of flexible features. You’ll also be taken care of in an emergency, with up to $200 per-day in travel and accommodation costs covered after an accident (maximum $1,000 in total), plus $500 for emergency repairs to get you driving again in the short-term. There’s also hire car cover for 14 days to a maximum cost of $1,000 after a theft or not-at-fault accident. There is a young driver excess of $600 and the choice of monthly premiums but similar to other insurance providers this will cost extra. 2023 Mozo Experts Choice Award Exceptional Value Insurance Winner.^
3. Buy online and get a discount
Budget Direct – Gold Comprehensive Car Insurance*
Budget Direct is offering drivers a super easy way to save with a 15% discount on your first year’s premium when you purchase a new policy online. You’ll also get tailor-made cover, new-for-old replacement, 24/7 claims, a highly-rated claims service and a hire car if your car happens to be stolen. In addition to the basic excess, if you or another driver have an at fault accident, you will be required to pay an additional excess if the driver is under 25, hasn’t had a full Australian licence for more than 2 years, or isn’t listed as a driver on your policy. You can opt for a monthly repayment option but this will cost you extra. It takes 2 minutes to get an online quote and see how much you could be saving with the Mozo Experts Choice Award winning Value Insurance Provider of the Year 2023!
4. Benefit from 24/7 roadside assistance
Youi Comprehensive Car Insurance*
In an emergency Youi’s policy can provide up to $1,000 to cover repairs without an insurance assessment, which can alternatively be spent on accommodation and travel if you’re more than 100km away from home. Emergency roadside assistance is also included as standard. Youi offers new-for-old car replacement and policy holders can get back onto the road after a theft or not-at-fault accident with Youi’s hire car cover (for up to 14 days). Monthly premiums cost extra and there is an additional excess for drivers not listed on the policy, and if under the age of 25 years.
5. Discount for new online applicants
Kogan Comprehensive Car Insurance*
Kogan Comprehensive Car Insurance brings with it one of the highest level of protection. It covers your vehicle for damage caused in an accident, weather events, fire and theft, plus damage your car causes to other people’s vehicles and property.
When you insure your brand new car with Kogan, if it’s written-off within the first three years and has driven less than 60,000 kms, they’ll replace it with a new car, as well as cover reasonable towing and storage costs in the event of an accident.
Plus, you’ll score a $10 Kogan.com credit when you complete a quote and new applicants get $125 off their first year’s policy when they apply online (T&Cs apply). Higher excesses apply to drivers under the age of 25.