cars, utes

Hansy Mannil Jul 10, 2023

One of the most important factors you need to think about when buying a new car is insurance. There are so many different providers and packages out there, though, that it can be a bit of a mind-melter searching through them all to find the right one. And just as varied are the premiums you’ll pay each year.

If you’d like to minimise your annual car insurance premium, here are a few ways of doing just that.

car crash


Comprehensive vs. third party

Opting for third party/third party fire and theft instead of comprehensive insurance will certainly reduce your annual premium. But unless you’re buying a car worth less than around $10,000 we strongly suggest going for comprehensive.

Why? Because comprehensive insurance pretty much covers you for nearly any type of damage (or theft) that may occur to your car, thus giving you absolute peace of mind.


The type of car makes a difference

It’s probably no surprise that a V8 Mustang will run a higher annual insurance premium than, say, a Hyundai Venue. The simple fact is, performance vehicles are going to cost you more insurance-wise, especially if you’re under 25.

And while we definitely don’t want to stop you from getting behind the wheel of your dream car (get a free car finance quote here - we know you’ll love what you see), opting for something with a little less grunt will help reduce how much you pay on insurance.

Get in touch with our new car buying partners carconnect - they’ll find the car you want at an amazing price and deliver it right to your door.


Package up with other types of insurance

If you have home and contents/health/life insurance, check whether the provider offers car insurance as well. You’ll find a fair few companies are willing to package everything up and give you a discount if you have multiple policies with them. It can’t hurt to ask!


Raising your excess to lower your premium

This is a bit of a ‘borrow from Peter to pay Paul’ situation - you should have the option to increase the amount you pay as an excess (that is, the amount you pay in the event of an accident and you need to make a claim) which reduces your annual premium amount.

If you decide to do this, put the amount you’ve chosen as the excess aside so you know you’re covered should you ever need it.


Research, research, research

The more searching you do, the higher chance you have of getting the best deal. Premiums can differ substantially from one insurance provider to the next, so take your time and don’t just go for one of the first quotes you receive.


Let us find the optimal car insurance package for you

Take the guesswork (and legwork) out of sourcing the absolute best car insurance option that suits your needs by giving us a call today on 1300 787 288 and letting us do all the work for you. Once we have the information we need from you, we have a wide-reaching network we’d be more than happy to tap into and present you with the market’s best offers.

You can alternatively send us an online message and we’ll be in touch soon.

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