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Defence Car Insurance Australia – Under 25 and ready to ride? Before you head out on a trip to the beach or a night out, we’ve got you covered with a car insurance policy that protects you from bumper-to-bumper cuts to major accidents.
Whether you’re under 25, own your own car or the family car, the starting point in Australia is the same: compulsory third party insurance (CTP) is a legal requirement for all drivers. If you ride your own wheels, you will need a separate CTP policy to protect you from civil liability if you are injured in an accident. However, if you only drive a family car, you do not need your own CTP policy. In this case, you need to convince your parents to add you to their policy as a listed driver. Keep in mind that this can increase their premiums, as young drivers are statistically more dangerous to insure. Because CTP only covers injuries (and not anyone’s car or other property), it provides a higher level of coverage. Here we discuss the following question.
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Once the CTP requirements are met, other insurance options come into play, not all of which are mandatory. As with CTP, if you mainly drive your parents’ car, you can be added to their policy. However, if you own your own vehicle and want a higher level of cover, you will need a separate policy.
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Third party coverage is the primary defense against damage to another person’s vehicle or property. It won’t cover damage to your own trip, but it can save you out-of-pocket costs if you cause an accident that damages someone else’s car or even a fence.
TPFT is an updated version of Third Party Property Insurance that includes everything that Third Party Property Insurance offers, but with just a little more protection for your vehicle. What does it protect your car against? You guessed it: fire and theft. If you’re not looking for comprehensive coverage, but live in an area prone to wildfires or high crime, this is a good option.
Comprehensive car insurance is an all-in-one package that includes all the features of third-party options, but also protects your personal vehicle against accidents, theft, fire, and even natural disasters like hail or falling trees. If you’re passionate about keeping your car in top shape, or if you’ve invested some money in a set of wheels, then this is the option for you. This is the most expensive option, but offers the most extensive protection.
All things being equal, car insurance for young drivers is generally better than average because young drivers are statistically more likely to cause accidents.
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However, experience also plays a role. For example, if you are under 25 and have a P-plate, you will find yourself at the top of the premium tier. That might make the cost of giving up P-plates a little easier to get a full license, but you’ll still have to pay more than a middle-aged adult.
Of course, there’s more to the equation: the car you drive, where you live, the parking situation, and even your gender.
So while we can’t tell you the exact costs, we’ve identified some guidelines that offer the best value for young drivers. Let’s take a look:
Each year, we host the Experts’ Choice Awards to identify insurance providers who consistently offer lower premiums than their competitors. Here are our top picks from the 2023 awards for young drivers looking for affordable insurance and manageable benefits:
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As you can see, you can get cheap car insurance as a young driver, although it’s important to note that other factors such as your age, where you live or the make and model of your car can also play a role; the cost of your policy.
And it’s not always about the price! Sometimes the best car insurance for young drivers isn’t always the cheapest option. While price is important, you should consider the overall value you’re getting from your policy. It is important to strike the right balance.
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It’s one thing to simply compare premiums, another thing to compare value for money is what your auto insurance covers and what the dollar limits of that coverage are. Some car insurance companies offer all or some of these features as standard policy features.
So narrow down your search and if you’re stuck with multiple options, ask if it’s added to your existing policy.
This is when it breaks down on the highway and needs engine help. For more comprehensive policies, you’ll have to opt out and pay extra for roadside assistance or go to another company.
If you need alternative transportation after an accident or no-fault theft, most policies cover you for a certain period of time or a certain amount of money. Others include post-accident car rental as an optional extra, regardless of whether you are responsible for the accident. Check the Product Disclosure Statement (PDS) for details.
Car Insurance For Young Drivers
It’s not a common feature, but it’s worth asking. If you are involved in an accident, you can pay an annual fee to save on your premiums or a no-claims bonus. Look at the fine print on this.
If your car is only worth $9,000 (according to your insurance company) and you’ve insured it for $20,000, that’s the negotiated value. Market value is how much the insurance company thinks your car could sell for when they insure it. Not all policies offer you a choice between these options, and choosing one over the other can cost you more. Find out more about this feature in our guide to contract auto insurance from the marketplace.
You are usually required to pay the annual policy premium in one lump sum, but some insurance companies offer monthly or even weekly payments. Some providers offer this service for free, but others charge a fee, but it may be easier to manage your payment.
As a young driver in Australia, your insurance premiums may be more expensive than an older driver with good driving experience and a full licence. As a young driver, there are some important car insurance factors to consider.
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Generally speaking, the simpler your car, the less you will pay for car insurance. In most cases you are not allowed to drive a high performance vehicle until you have a full driving licence. If you’re caught behind the wheel, you can lose your license and face fines, and if you’re at fault for an accident, your insurance company can cancel your policy entirely.
If you have a good driving record while holding a P plate, you can get a discount on your policy. If you complete a safe driving course, you may be rewarded with an additional discount for your considerable effort.
If you’ve been driving every day since you were 17 and you’re now 23, that’s six years of driving experience. If you have a good record of safe driving, you may qualify for a discount on your car insurance premiums. It never hurts to ask.
Car insurance may be the last thing on your mind when shopping for a new car, but you should never rush it. Take the time to compare quotes because you can save a lot of money every year by finding the best pricing policy that works for you.
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