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Best Car Insurance Victoria Australia – New analysis by the financial comparison website has found Australians could be missing out on an average of up to $696 in annual savings if they don’t compare car insurance before buying or renewing a policy.
The analysis was part of the Experts’ Choice Car Insurance Awards 2022 and compared 66 policies from 55 providers and found the average annual cost of car insurance in Australia was $1,302.
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“Our analysis shows that not all car insurance policies are the same and there can be a huge difference in price between comparable policies. At a time when many families are struggling with the rising cost of living, this is a timely reminder that shopping for Personal Finance Products can be a great opportunity to stretch budgets,” says Claire Frawley, Personal Finance and Insurance Expert .
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Under-20s are hit with the highest premiums, with an average annual cost of $2,447, but the analysis found they could save up to $1,077 a year by shopping around.
‘Our analysis found that the older the driver, the lower the average cost of insurance, which is not surprising as younger drivers are considered riskier by the driver’s car insurance companies.’
When it comes to who pays the most for car insurance, Victorian drivers were found to have the most expensive premiums, paying $1,463 a year; That’s 68% more than drivers in the cheapest state, Tasmania, who pay an average of $872.
“Finding cheaper car insurance doesn’t mean drivers have to compromise on the quality of insurance they get. This is where reading the fine print comes in handy, paying attention to features such as roadside assistance, adequate collision cover and mechanic selection.”
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“People who don’t want to switch but feel they are being overcharged can find relief by contacting their supplier over the phone and negotiating a lower price.
The Expert Choice Car Insurance Awards 2022 can be a great tool for Australians looking for exceptional policies and providers that beat the competition when it comes to providing great value and quality car insurance. Some of this year’s award winners include the following:
For more information on this year’s award winners, visit the Experts’ Choice Awards or check out our car insurance comparison service.
Notes: Analysis based on the aggregation of over 260,633 quotes from 55 car insurance companies and 66 policies as of September 2022. Average savings were calculated using the difference between the average and minimum annual costs.
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Compare over 1,800 products from over 200 banking, insurance and energy providers to help thousands of Australians find a better deal every month with its award-winning comparison tools and calculators. As one of Australia’s most visited comparison sites, our team of experts regularly provide financial commentary and advice to Australia’s leading media outlets.
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Our goal is to help you make smart financial decisions, and our award-winning comparison tools and services are free. As a marketplace business, we earn money from advertising and this page features products with Go to Site links and/or other paid links; where the supplier pays us a commission if you move from our site to their site or remove a product. They. You do not pay any additional cost to benefit from our service.
We pride ourselves on the tools and information we provide, and unlike other comparison sites, we include the ability to search all products in our database, regardless of whether we have a business relationship with the suppliers of those products.
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The “Sponsored”, “Special Offer” and “Featured Product” labels indicate products that the seller has paid to advertise more prominently.
“sorting” refers to the initial sorting and is in no way intended to imply that certain products are better than others. You can easily change the order of the products displayed on the page.
Terms, conditions, exclusions, limits and sublimits may apply to any insurance products displayed on the Site. These terms, conditions, exclusions, limits and sublimits may affect the level of benefits and coverage offered by any insurance products displayed on the Site. Before making any decision about an insurance product, please refer to the relevant Product Information Statement and Target Market Identification on the provider’s website. Opt for standard coverages or add optional extras, such as rental car coverage, to suit your needs and budget. , use windshield coverage without a deductible or choose your mechanic. authorized.¹
If your vehicle cannot be driven after a no-fault collision until it is repaired or your claim is not resolved, rent car insurance. The name and address of the at-fault driver must be communicated to the insurance company.
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As long as your subscription the longer it lasts, the bigger the discount on selected products with our membership year benefit.*
Get two or more qualifying policies and save up to 10% on each, including home and car insurance.*
With a comprehensive vehicle insurance policy you will be insured against various events. Here’s a rundown of what’s included:
If your car it is not safe to drive or is under repair. You must provide details about the faulty driver.
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Where possible, if your vehicle is less than 2 years old and the insurance company deems it a total loss and agrees to pay the claim.
The use of the vehicle will fall within the scope of your licence. An additional excess may apply for inexperienced drivers or drivers under the age of 25.
This is only a summary of comprehensive insurance coverage. For more information, including terms, limitations and exclusions, please read the Product Disclosure.
For more information about general exclusions and non-covered items, see the Product Information Statement.
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For added peace of mind, you can choose to upgrade your insurance with optional extras. If you do, you will have to pay more for your premium.
With comprehensive insurance, you’ll be covered by no-fault collision rental car coverage with details of the at-fault driver and if your vehicle is stolen or attempted to be stolen. When you add this option, you’ll have rental car coverage regardless of who is at fault.
If you add this option, you won’t have to pay any additional costs if only the windshield, sunroof or glass of your vehicle is damaged in an accident.
As part of comprehensive insurance, the insurance company will arrange for your vehicle to be repaired by a partner mechanic. If you choose this option, you can choose any authorized mechanic to repair your vehicle.
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Cover your car in case it is damaged by fire or stolen. Moreover, for unintentional collision damage to other people’s property and vehicles.
Sign in to your account online to view policy documents or update your personal information and payment methods. For other changes, call 13 72 28.
This is how much the insurance company agrees to insure your vehicle. You can choose between a certain range of values, and this value remains constant throughout the policy period.
At the time of renewal, the insurance takes into account changes in the agreed value of the vehicle using local market values. Check your renewal notice to see if there have been any changes.
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This is an assessment of the value of your vehicle at the time of the accident for which you are making a claim. It takes into account local market prices, the age and condition of your vehicle.
If you buy a car insurance policy, you can only choose between the agreed value and the market value.
There are also some differences in how much you will be compensated. For example, with Complete Care® insurance, after an accident you are covered for up to $100 per day for a rental car until the claim is resolved; this is a higher amount than comprehensive insurance.
This is just a summary of the differences between car insurance policies. Please see the applicable Product Disclosure Statement for specific terms, conditions, limitations and exclusions.
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Yes, as long as they have a valid driver’s license. Additional deductibles may apply for drivers under 25 and inexperienced drivers.
Comprehensive insurance can protect you against loss or damage to your vehicle caused by any of the following events: collision, flood, fire, malicious act, storm, accidents such as theft or attempted theft, and damage to the property of others.
Comprehensive vehicle insurance protects you from any large bills in the event of an accident. Regardless of who is at fault, you and anyone else authorized to drive your vehicle will be covered for collision damage to your vehicle and accidental collision damage to other people’s property.
If you only want to purchase coverage for damage you cause to other people’s property, you may want to purchase a fire and theft or third party property damage insurance policy.
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Your premium insurance generally reflects the likelihood that a claim will be made on your policy in the future. and a number of other factors. Call
