Average car insurance cost for under-25s
To give you an idea of costs, Canstar Research has calculated the modal annual comprehensive car policy premium for male and female drivers under 25, based on policies we considered as part of our Car Insurance Star Ratings and Awards .
Average annual car insurance premium for under-25 drivers with a new car
| State | Female | Male |
|---|---|---|
| NSW | $2,242.92 | $2,494.08 |
| Qld | $1,542.77 | $1,733.47 |
| Vic | $2,249.54 | $2,507.00 |
| SA | $1,573.83 | $1,776.04 |
| Tas | $1,442.75 | $1,625.52 |
| WA | $1,418.44 | $1,595.42 |
beginning : www.canstar.com.au. Based on quotes obtained for Canstar ’ mho 2021 Car Insurance Star Ratings and Awards. Quotes had a state-specific target excess ranging from $ 600 to $ 750 .
How much does family car insurance cost?
If your rear or defender owns the cable car you ’ ll be driving, you may be able to ask if you can be added to their car insurance policy. This will typically add an extra monetary value to the policy, and a higher under-25 year-old driver excess may apply in the consequence of a claim. Speak to your insurance company to see if this is an option for you and to find out what you will and won ’ thyroxine be covered for.
To give you an estimate of how costs could differ, Canstar Research has crunched the numbers to find the average annual comprehensive car insurance premium on our database for a family with a young driver, again based on the policies considered as part of our Star Ratings research .
Average annual car insurance premium for a family
| State | Average |
|---|---|
| NSW | $2,283.27 |
| Qld | $1,560.03 |
| Vic | $2,078.65 |
| SA | $1,638.05 |
| Tas | $1,445.44 |
| WA | $1,474.54 |
source : www.canstar.com.au. Based on quotes obtained for Canstar ’ sulfur 2021 Car Insurance Star Ratings and Awards. Quotes had a state-specific target excess ranging from $ 600 to $ 750 .
Based on these figures, if you were to contribute half the annual cost of a syndicate comprehensive car policy premium, this would work out cheaper on average than buying your own policy .
For exercise, if you agreed with your parents to pay half the premiums on a syndicate cable car indemnity policy in New South Wales, this would cost you about $ 1,141.64 per year. This is good over half the price you would pay for your own policy as a youthful female driver ( $ 2,242.92 ), or less than half what you ’ vitamin d pay as a male ( $ 2,494.08 ), based on Canstar ’ south average bounty data. Check with your insurance company to see whether any conditions apply and how they could impact the price or cover of your parents ’ policy .
Bear in mind, excessively, that these are estimates based on average figures. The demand sum you would be charged on a family or standalone under-25s policy will vary based on the insurance company and policy you choose, american samoa well as your personal circumstances. additionally, it ’ sulfur potential you may prefer to take out your own car insurance policy for reasons other than price, such as if you live aside from home and have your own car .
Another option for a syndicate looking for a potentially cost-efficient and convenient way to insure more than one fomite ( e.g. the parents ’ car a well as one drive by an adult child is multi-car indemnity policy .
How to save on the cost of car insurance
If you ’ re looking to cut down on car insurance costs, you may be able to reduce your premiums by :
- Increasing your car insurance excess (the amount of money you have to pay your insurer if you make a claim)
- Parking your car in a secure location like a garage if possible, rather than on the street
- Installing anti-theft devices like car alarms, immobilisers or tracking devices
- Avoiding modifying your car, particularly modifications that change the look or performance of your vehicle
- Paying your premiums annually rather than in instalments
- Buying your policy online
→ Read more: 10 tips to save money on your car insurance
many insurers besides offer no-claim bonuses, often in the form of premium discounts. These are designed to reward drivers who do not claim on their insurance. They typically increase each year that you don ’ t make a claim, up to maximum number of years. Some insurers may besides offer bounty discounts if you complete a safe drive run .
While it may not be possible for everyone, another way of reducing premiums is to change the type of cable car you drive. It ’ s typically more expensive, for example, to insure cars with a higher market rate or that are more expensive to repair .
last, you may be able to save on your car policy by comparing policies to find one that suits your circumstances and budget. You can compare a compass of comprehensive examination cable car insurance policies on Canstar ’ second database .
Compare Car Insurance with Canstar
Additional reporting by Tamika Seeto. Main image source : Ekaterina Pokrovsky/Shutterstock.com
Read more: The 7 Best Car Insurance Companies (2022)
Thanks for visiting Canstar, Australia’s biggest financial comparison site*