Australians pay an average of $1,027 a year for car insurance, according to Mozo. Source: Pixabay
If you insure a car in Victoria, chances are you’re paying up to 40 per cent more than the national average for comprehensive car insurance.
In the recent Experts Choice Car Insurance Awards held by comparison site Mozo, researchers found that unlucky Victorians pay an average of $1,345 a year for car insurance while Tasmanians pay just $811 a year to ensure their wheels.
Australians pay an average of $1,027 a year for car insurance, according to Mozo.
“There’s a huge difference between the price of policies in most states … What this means is that if you aren’t careful about which policy you pick, there’s a good chance you could be either paying too much, or not getting the quality of cover you really need,” said Mozo director Kirsty Lamont.
Car insurance premiums were the least expensive across the board for those in the 60-69 age bracket, and there is also less of a price difference between the most and least expensive policies for drivers in that age group. Younger drivers, particularly those 20 and under, were hit with the highest premiums, due to their perceived risk.
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If you’re shopping around for the best quality car insurance policies, Apia, GIO, NRMA, SGIC, SGIO, RAA and RACV are the Mozo Experts Choice for 2017.
In this category Mozo factored in criteria such as the nature and extent of the insurance cover, the inclusion of added benefits, whether the policy provided optional extras, customer experience in dealing with the insurer and how quickly disputes were resolved.
If you’re looking for the best value policy, Mojo recommends Budget Direct, Progressive Direct, RAC, SGIC, SGIO Suncorp Insurance and Bingle.
“The good news is that there is huge room for savings when it comes to car insurance. Drivers can save over $1,000 a year on average by comparing insurers and selecting the best value policy. Mozo has done the legwork to identify insurers that offer exceptional value for money” Lamont said.
“The bottom line is that no matter your location or age, there are savings to be made when it comes to car insurance. Be sure to shop around and compare insurers.”
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Mojo recommended these tips to save on your car insurance:
Have you been able to save price by shopping around for car insurance or other types of insurance? What influences you most when shopping around for insurance – quality or cost of the cover?
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