What is the average cost of comprehensive car insurance in Australia as of 2024-2025 is around $1,400 to $1,800 per year nationally when averaging all ages, car types and locations. This figure comes from data aggregated by comparison sites like Finder, Canstar, Compare the Market and insurers like Budget Direct. However, the average varies significantly by driver profile. For a low-risk driver aged 35 to 50 with rating 1 no-claim bonus, living in a suburban or regional area and driving a $35,000 to $45,000 car like Toyota Corolla, Mazda3 or Hyundai Tucson with market value and $1,000 excess, the average is lower at $1,100 to $1,400 per year. For young drivers under 25, the average is much higher at $1,800 to $3,200 per year for the same car due to higher crash risk. For drivers over 60 in regional areas with a small hatch like Toyota Yaris or Suzuki Swift, the average is $600 to $900 per year. For high-performance or European luxury cars like BMW, Mercedes, Audi or Tesla Model 3, the average is $2,000 to $3,500 per year. Location matters greatly, average comprehensive in Western Sydney, Logan in QLD and northern Melbourne is 30% to 50% higher than in Tasmania or regional South Australia. If you pay monthly instead of annually, add 8% to 12% instalment loading, so $1,500 annually becomes $135 to $145 per month. Third Party Property only averages $400 to $600 per year for comparison.
1 votes
Marked as accepted