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6 Ways to Get Cheap Car Insurance in Australia

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Australia’s cost of living crisis means many of us have to think hard about what we spend our money on. Looking for cheap, affordable car insurance is one way many of us are trying to save money every month. Though choosing the cheapest policy isn’t always the best idea, there ARE value-rich affordable options out there when it comes to insurance.

It won’t surprise you that we suggest PD is one of them! Aside from that, there are plenty of ways to bring your premium down. Let’s take a look …

A jar filled with money and a toy car, representing affordable car insurance options.

1. Choose value-rich, cheap car insurance

If you’re looking to pay less but still want car insurance cover with plenty of benefits, then researching cheaper car insurance by looking into PD Insurance is a clever move.

Our award winning car insurance offers flexible excess, additional benefits and more. At PD, we care about our customers and want to build lasting relationships built on trust. When you take out a policy with us, you’re joining community and family.

Read all about our different car insurance plans to decide which one suits you, your car and your pocket. For example, our comprehensive car insurance offers you the broadest cover at an affordable price.

With comprehensive, if your car is damaged or stolen in a claimable event we’ll cover replacement or repair. We’ll also cover any damage you do to another person’s vehicle or their property.

It’s all about giving you straightforward, no-nonsense policies that are designed to help you. Not confuse you!

A woman sitting at a desk with a calculator and papers, comparing cheap car insurance options.

2. Increasing your excess for cheap car insurance

Now, once you’ve chosen an affordable car insurance policy (hopefully through PD), there are ways to reduce your premium. The first is when you choose your excess.

Let’s chat about that.

Your excess is the amount you agree (at the time of taking out your insurance) to pay out of your pocket if you make a claim. The trick here is, if you opt to increase your excess, your insurance premium – the amount you pay regularly for the insurance – generally goes down.

Think of it like a seesaw with your excess on one end and your premium on the other. If you push up the excess, the premium goes down. It’s a bit like taking a bigger risk now to save some money later. Whereas, if you reduce your excess the premium goes up.

If you’re someone who drives carefully, bumping up your excess might be a smart move. You’re betting on the fact that you won’t need to make a claim, and thus, you save on the premium. Keep in mind that accident are caused by other drivers, too – so being a careful driver yourself doesn’t necessarily make your risk-free.

However, if you’re a bit accident-prone or just don’t want to take the risk of a high out-of-pocket cost, it might not be the best idea. It’s like not wanting to play poker with high stakes because you’re not comfortable with the potential loss. 🚗💰⚖️

You can find out more about your excess, here:

A stack of cheap car insurance coins in front of a clock.

3. Drive a less risky car for cheaper car insurance

Another smart move for cheap car insurance is to consider driving a car that’s considered less risky by insurance companies. Let’s break it down:

Why risk matters

Insurance companies are all about risk. We’re like a mate who’s always calculating the odds before making a bet. A car that’s less likely to be stolen, involved in an accident, or expensive to repair is like a safer bet for us. It’s about treading a fairly careful path for the benefit of our customer base as a collective that enjoys lower premiums.

The type of car counts

Think about the type of car you’re driving. Sports cars, high-performance vehicles, or luxury models are often seen as high-risk. They’re like wearing a bright red shirt in a bullring – more likely to attract trouble. On the other hand, a standard model, especially a smaller or a family car, is like being in the crowd – less noticeable and generally safer.

Age and condition of the car too

Newer vehicles are often packed with car safety features, which is great, but they can also be expensive to repair or replace. Older cars might not have all the latest safety gear, but they’re often cheaper to insure. It’s like choosing between a brand-new smartphone and a slightly older model – the latest isn’t always the cheapest to keep.

Safety features are a plus

A ride with good car safety ratings and features like airbags, anti-lock brakes, or stability control might get you a better deal on insurance. It’s like having a good security system at home – it gives the insurers peace of mind.

Popularity with thieves? Consider avoiding

Some cars are just more attractive to thieves. If your car is on that list, insurers might see it as a higher risk. It’s like walking around with a flashy, expensive watch – you’re more likely to attract unwanted attention.

Remember that even when you drive a risky car, there are ways to protect yourself. Read our simple daily habits to help prevent car theft.

A woman wearing sunglasses driving a car while searching for affordable car insurance options.

4. Using your garage for cheap car insurance

Alright, let’s chat about how parking your car in a garage can help further lower affordable car insurance. It’s a bit like finding a hidden discount you didn’t know you had.

The safety factor

Insurance companies love anything that reduces risk. Parking your car in a garage is like giving it a safe little home for the night. It’s protected from theft, vandalism, and even the unpredictable Aussie weather.

Lower risk, lower premium

Because a garaged car is at a lower risk of theft or damage, we often see this as a lower risk to insure. Think of it as being rewarded for taking good care of your stuff.

Mention it to your insurer

When you’re getting a quote, make sure to tell your insurer that you park your car in a garage. It’s an important detail that can make a difference in your premium.

Consistency is key

However, it’s important to be consistent. If you say you’re parking in a garage, please actually do it. If something happens and the insurer finds out the car was on the street, it could be a problem – honesty is the best policy.

Two cars parked in front of a house, one of which is insured with cheap car insurance.

5. Pay annually for cheap car insurance

When you’re on the lookout for cheap car insurance in Australia, you might want to consider the option of paying your premium annually instead of monthly. Yes, it’s a bigger amount to part with initially, but it can lead to overall savings.

How annual payment can save you money

This is similar to those offers where you get a discount for buying in bulk. It gives your insurer the benefit of receiving the money upfront, and in return, it gives you a bit of a price break.

The budgeting aspect

Paying annually can also simplify your budgeting. You make one payment for the whole year and then don’t have to worry about monthly deductions from your account.

Consider your cash flow

But before you decide to pay annually, think about your cash flow. Can you comfortably handle a larger one-time payment? It’s like deciding whether to buy a big-ticket item outright or use a payment plan – what works best for your financial situation?

A person saving money by putting a coin into a blue piggy bank.

6. Get savvy with cheap car insurance

Knowledge is power and the better you understand the ins and outs of insurance the more you’ll see money-saving opportunities pop up. That’s why we’re so passionate about our blog and providing you with plenty of resources like this one.

Here are some must-read articles that will help you find more ways to ensure cheaper car insurance:

Want value-rich, cheap car insurance?

We hope we’ve convinced you to check out PD’s value-rich, simple and affordable car insurance plans: comprehensive car insurance, third party property damage and third party fire and theft. Why not get a quote today?

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