The ultimate guide to finding the best car insurance in Australia!
We understand the importance of finding the best car insurance in Australia. With a plethora of choices available, selecting the most suitable one can be a daunting task. To simplify your decision-making process, we have carefully curated a list of top options. Whether you prioritise affordability, extensive coverage, or exceptional customer service, we have conducted thorough research to provide you with the best recommendations. Comprehensive car insurance is the go-to for those seeking extensive protection, covering everything from break-ins to total write-offs. Accidents are a reality, 64% of adult drivers reported being involved in at least one, with speeding being the leading cause.
Our blog today is based on a survey conducted by Choice, supplemented by data from Drive and Forbes, ensuring a comprehensive and insightful analysis! Let's delve into our top selections for car insurance in Australia.
What makes car insurance a good car insurance?
When it comes to selecting an automobile insurance provider, trustworthiness and dependability are crucial factors to consider. Some well-regarded insurers, such as RAA, RAC, RACQ, Allianz, NRMA and Apia, are known for delivering exceptional customer experiences. On average, a majority of customers who filed claims expressed satisfaction with their experiences, with RACQ and Allianz customers being the most content.
Car insurance serves as protection against damages caused by accidents, fire, severe weather, and theft of your vehicle. However, determining whether your insurer will be cooperative when you file a claim can be challenging.
Customer experiences with car insurers can vary, making it essential to choose one that you can rely on to assist you when you need to make a claim.
What sets RAA apart as the top-rated car insurer for customer experience?
According to a survey conducted by Choice on customer ratings, RAA leads the pack with 87% of customers rating the company as above average or excellent. Following closely behind are RAC, RACQ, and Apia.
Other insurers like RACV, NRMA, Youi, and GIO also received above-average ratings. Suncorp customers, however, rated their experience as average. On the lower end of the spectrum, Woolworths, Budget Direct, AAMI, and Allianz rated below average. Coles ranked at the bottom, with only 57% of customers rating them above average or excellent.
The above data demonstrates the statistics presented below:
| RAA(SA) | 87% |
|---|---|
| RAC (WA) | 82% |
| RACQ (Qld) | 80% |
| Apia | 80% |
| RACV (Vic) | 77% |
| NRMA | 77% |
| Youi | 77% |
| GIO | 73% |
| Suncorp | 72% |
| Woolworths | 66% |
| Budget Direct | 66% |
| AAMI | 65% |
| Allianz | 62% |
| Coles | 57% |
Which car insurer offers the best value for money?
Which car insurers offer the best value for money? In a landscape where the cost of living is on the rise, finding good value is more important than ever. However, only a small fraction of customers (22%) rate their car insurer as providing excellent value for money.
Among those that stand out for offering better value for money are Youi (40% rating them as excellent), RACQ (31%), Budget Direct (28%), and RAA (28%). On the other hand, Coles and Allianz are rated lower, with only 13% and 12% of customers respectively considering them as excellent value for money.
If you're looking to save on your car insurance premium, comparing options could be a wise move.
Which car insurers have the most loyal customers?
When it comes to car insurance, loyalty isn't always guaranteed. Despite the hopes for better value for money, only 34% of respondents are certain they will renew their insurance with their current insurer, while another 47% are leaning towards renewal.
However, some insurers have managed to cultivate a loyal customer base. A significant percentage of their customers have remained with them for over a decade:
- NRMA (53%)
- RACQ (53%)
- RAA (48%)
- RACV (42%)
If you're looking to save on your car insurance, it might be worth shopping around, as new customers often receive better deals.
In new data, from Roy Morgon, it shows that Aussies are on the move when it comes to car insurance. A whopping 2.6 million people have switched insurers in the past year. And that's not all – another 2.1 million folks have jumped into the world of car insurance for the very first time.
Rising living costs are a key driver. Despite 11.3 million considering a switch, most opted to renew with their existing provider. Among new policyholders, AAMI, Allianz, and NRMA were popular choices. NRMA dominated the market with 16.8% of all policies. Factors like inflation and interest rates influenced decisions, with price-focused insurers like Budget Direct gaining traction among new customers.
The data is gathered through interviews with more than 60,000 Australians each year.
Which Car Insurer Provides the Best Claims Experience?
If you ever need to make a claim, you'll want an insurer that provides a smooth experience. Customers have reported high satisfaction with the claims process offered by RACV and RACQ, with most rating their insurer's handling of claims as above average or excellent.
Here are the insurers that received above-average and excellent ratings from customers with settled claims:
- RACQ (94%)
- RACV (90%)
- AAMI (74%)
- NRMA (69%)
- Budget Direct* (66%)
- Allianz (60%)
*Note: The sample size for Budget Direct was small (29), so the result for them is indicative only.
Which car insurer shows the most care for their customers?
Insurers that rated well for overall customer experience also excelled in making customers feel cared for. RAA, RACQ, and Apia stood out, with 77%, 74%, and 73% of their customers respectively feeling that the level of care was "above average" or "excellent". On the other hand, Allianz, Suncorp, and Coles ranked lower, with only 53%, 50%, and 46% of their customers feeling similarly cared for.
| Car Insurer | Percentage Feeling Cared For (Above Average or Excellent) |
|---|---|
| RAA (SA) | 77% |
| RAC (WA) | 71% |
| RACQ (Qld) | 74% |
| Apia | 73% |
| RACV (Vic) | 71% |
| NRMA | 67% |
| Youi | 66% |
| GIO | 63% |
| Suncorp | 50% |
| Woolworths | 61% |
| Budget Direct | 57% |
| AAMI | 53% |
| Allianz | 50% |
| Coles | 46% |
Conclusion
Finding the best car insurance in Australia requires careful consideration of various factors, including customer experience, value for money, loyalty, claims handling, and customer care. Insurers like RAA, RACQ, and Apia excel in providing exceptional customer experiences, while Youi, RACQ, and Budget Direct are recognised for offering better value for money. NRMA, RACQ, RAA, and RACV have the most loyal customers, and RACV and RACQ lead in providing the best claims experience. Additionally, RAA, RACQ, and Apia are rated highest for making customers feel cared for.
When choosing car insurance, it's essential to compare options to find the best fit for your needs. Whether you prioritise affordability, comprehensive coverage, or outstanding customer service, our curated list of top car insurers in Australia aims to simplify your decision-making process.
FAQs
1. What are some best car insurance in Australia?
While the "best" insurance can vary based on individual needs, several providers are highly rated. Some of these include AAMI, Allianz, NRMA, Budget Direct, and RACQ. Each offers different features and benefits, so it's essential to compare policies to find the one that suits your requirements best.
2. Which car insurance provider offers the most affordable rates in Australia?
Bingle is one of the cheapest car insurers in 2024. Bingle, an online-only provider, claimed the 'Low Cost' category in Finder's 2024 Car Insurance Awards, offering comprehensive cover for an average of just $862 per year.
3. Which companies dominate the car insurance market in Australia?
The Australian car insurance market is largely dominated by a few major players: Insurance Australia Group (IAG), Suncorp Group, and Allianz Australia. These companies collectively hold a significant share of the market, primarily due to their strong brand presence, wide range of insurance products, and extensive customer base.
We understand the importance of finding the best car insurance in Australia. With a plethora of choices available, selecting the most suitable one can be a daunting task. To simplify your decision-making process, we have carefully curated a list of top options. Whether you prioritise affordability, extensive coverage, or exceptional customer service, we have conducted thorough research to provide you with the best recommendations. Comprehensive car insurance is the go-to for those seeking extensive protection, covering everything from break-ins to total write-offs. Accidents are a reality, 64% of adult drivers reported being involved in at least one, with speeding being the leading cause.
Our blog today is based on a survey conducted by Choice, supplemented by data from Drive and Forbes, ensuring a comprehensive and insightful analysis! Let's delve into our top selections for car insurance in Australia.
What makes car insurance a good car insurance?
When it comes to selecting an automobile insurance provider, trustworthiness and dependability are crucial factors to consider. Some well-regarded insurers, such as RAA, RAC, RACQ, Allianz, NRMA and Apia, are known for delivering exceptional customer experiences. On average, a majority of customers who filed claims expressed satisfaction with their experiences, with RACQ and Allianz customers being the most content.
Car insurance serves as protection against damages caused by accidents, fire, severe weather, and theft of your vehicle. However, determining whether your insurer will be cooperative when you file a claim can be challenging.
Customer experiences with car insurers can vary, making it essential to choose one that you can rely on to assist you when you need to make a claim.
What sets RAA apart as the top-rated car insurer for customer experience?
According to a survey conducted by Choice on customer ratings, RAA leads the pack with 87% of customers rating the company as above average or excellent. Following closely behind are RAC, RACQ, and Apia.
Other insurers like RACV, NRMA, Youi, and GIO also received above-average ratings. Suncorp customers, however, rated their experience as average. On the lower end of the spectrum, Woolworths, Budget Direct, AAMI, and Allianz rated below average. Coles ranked at the bottom, with only 57% of customers rating them above average or excellent.
The above data demonstrates the statistics presented below:
| RAA(SA) | 87% |
|---|---|
| RAC (WA) | 82% |
| RACQ (Qld) | 80% |
| Apia | 80% |
| RACV (Vic) | 77% |
| NRMA | 77% |
| Youi | 77% |
| GIO | 73% |
| Suncorp | 72% |
| Woolworths | 66% |
| Budget Direct | 66% |
| AAMI | 65% |
| Allianz | 62% |
| Coles | 57% |
Which car insurer offers the best value for money?
Which car insurers offer the best value for money? In a landscape where the cost of living is on the rise, finding good value is more important than ever. However, only a small fraction of customers (22%) rate their car insurer as providing excellent value for money.
Among those that stand out for offering better value for money are Youi (40% rating them as excellent), RACQ (31%), Budget Direct (28%), and RAA (28%). On the other hand, Coles and Allianz are rated lower, with only 13% and 12% of customers respectively considering them as excellent value for money.
If you're looking to save on your car insurance premium, comparing options could be a wise move.
Which car insurers have the most loyal customers?
When it comes to car insurance, loyalty isn't always guaranteed. Despite the hopes for better value for money, only 34% of respondents are certain they will renew their insurance with their current insurer, while another 47% are leaning towards renewal.
However, some insurers have managed to cultivate a loyal customer base. A significant percentage of their customers have remained with them for over a decade:
- NRMA (53%)
- RACQ (53%)
- RAA (48%)
- RACV (42%)
If you're looking to save on your car insurance, it might be worth shopping around, as new customers often receive better deals.
In new data, from Roy Morgon, it shows that Aussies are on the move when it comes to car insurance. A whopping 2.6 million people have switched insurers in the past year. And that's not all – another 2.1 million folks have jumped into the world of car insurance for the very first time.
Rising living costs are a key driver. Despite 11.3 million considering a switch, most opted to renew with their existing provider. Among new policyholders, AAMI, Allianz, and NRMA were popular choices. NRMA dominated the market with 16.8% of all policies. Factors like inflation and interest rates influenced decisions, with price-focused insurers like Budget Direct gaining traction among new customers.
The data is gathered through interviews with more than 60,000 Australians each year.
Which Car Insurer Provides the Best Claims Experience?
If you ever need to make a claim, you'll want an insurer that provides a smooth experience. Customers have reported high satisfaction with the claims process offered by RACV and RACQ, with most rating their insurer's handling of claims as above average or excellent.
Here are the insurers that received above-average and excellent ratings from customers with settled claims:
- RACQ (94%)
- RACV (90%)
- AAMI (74%)
- NRMA (69%)
- Budget Direct* (66%)
- Allianz (60%)
*Note: The sample size for Budget Direct was small (29), so the result for them is indicative only.
Which car insurer shows the most care for their customers?
Insurers that rated well for overall customer experience also excelled in making customers feel cared for. RAA, RACQ, and Apia stood out, with 77%, 74%, and 73% of their customers respectively feeling that the level of care was "above average" or "excellent". On the other hand, Allianz, Suncorp, and Coles ranked lower, with only 53%, 50%, and 46% of their customers feeling similarly cared for.
| Car Insurer | Percentage Feeling Cared For (Above Average or Excellent) |
|---|---|
| RAA (SA) | 77% |
| RAC (WA) | 71% |
| RACQ (Qld) | 74% |
| Apia | 73% |
| RACV (Vic) | 71% |
| NRMA | 67% |
| Youi | 66% |
| GIO | 63% |
| Suncorp | 50% |
| Woolworths | 61% |
| Budget Direct | 57% |
| AAMI | 53% |
| Allianz | 50% |
| Coles | 46% |
Conclusion
Finding the best car insurance in Australia requires careful consideration of various factors, including customer experience, value for money, loyalty, claims handling, and customer care. Insurers like RAA, RACQ, and Apia excel in providing exceptional customer experiences, while Youi, RACQ, and Budget Direct are recognised for offering better value for money. NRMA, RACQ, RAA, and RACV have the most loyal customers, and RACV and RACQ lead in providing the best claims experience. Additionally, RAA, RACQ, and Apia are rated highest for making customers feel cared for.
When choosing car insurance, it's essential to compare options to find the best fit for your needs. Whether you prioritise affordability, comprehensive coverage, or outstanding customer service, our curated list of top car insurers in Australia aims to simplify your decision-making process.
FAQs
1. What are some best car insurance in Australia?
While the "best" insurance can vary based on individual needs, several providers are highly rated. Some of these include AAMI, Allianz, NRMA, Budget Direct, and RACQ. Each offers different features and benefits, so it's essential to compare policies to find the one that suits your requirements best.
2. Which car insurance provider offers the most affordable rates in Australia?
Bingle is one of the cheapest car insurers in 2024. Bingle, an online-only provider, claimed the 'Low Cost' category in Finder's 2024 Car Insurance Awards, offering comprehensive cover for an average of just $862 per year.
3. Which companies dominate the car insurance market in Australia?
The Australian car insurance market is largely dominated by a few major players: Insurance Australia Group (IAG), Suncorp Group, and Allianz Australia. These companies collectively hold a significant share of the market, primarily due to their strong brand presence, wide range of insurance products, and extensive customer base.
