How much car insurance costs per month in Australia depends on whether you mean compulsory third party only or comprehensive cover, but most people asking mean comprehensive. The national average for comprehensive car insurance for a 35 to 50-year-old driver with a good no-claim rating and a $30,000 to $45,000 car is about $110 to $160 per month when paying monthly, which annualises to $1,320 to $1,920 including monthly instalment fees of 8% to 12%. For a young driver under 25, expect $180 to $320 per month for the same car, especially if living in Sydney, Melbourne or Brisbane high-risk postcodes. For a low-risk driver over 40 in regional Australia driving a Toyota Corolla or Mazda3 with market value cover and $1,000 excess, you can find policies for $65 to $100 per month with insurers like Budget Direct, Bingle or Rollin. For a high-performance car like BMW M3 or Ford Ranger Raptor for a 22-year-old in Western Sydney, it can be $350 to $500+ per month. Third Party Property Damage only, which covers damage you cause to others, is $25 to $55 per month. CTP Green Slip in NSW paid monthly where available is $35 to $90 per month. To reduce monthly cost, increase your excess from $600 to $1,200, choose market value instead of agreed value, restrict drivers to over 25 or over 30, park in a garage, and maintain rating 1 no-claim bonus which can give up to 60% discount. Paying annually instead of monthly saves 5% to 15% loading.
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