Compare car insurance in Canberra and the ACT

Comprehensive car insurance covers accidental damage to both your vehicle and a third party’s property, as well as fire damage, theft and damage from attempted theft. Depending on the circumstances, comprehensive cover may also offer financial protection for you if your car is completely written off.

Third Party Property Damage (TPPD) insurance covers damage you cause to other people’s property and vehicles with your car. Typically, this level of car insurance doesn’t cover your vehicle for at-fault claims. Depending on your insurer, TPPD may have a limited amount of cover for your vehicle if it’s damaged by an uninsured driver.

Third Party Fire and Theft (TPFT) insurance operates similarly to TPPD policies, with additional cover for your vehicle if it’s stolen or damaged/destroyed in a fire. However, your vehicle’s repair costs aren’t covered if you’re at fault in a car accident.

MAI insurance (known as CTP or Green Slip in other states) is mandatory for driving in the ACT and around Australia. It covers your liability if you cause injury or death to someone else in a motor vehicle accident involving your vehicle. In the ACT, you have the option of choosing from different MAI insurance providers.

Everyone’s needs are different, so the best car insurance for you might not suit someone else. Vehicles registered in the ACT must have MAI insurance, but it may be worth considering additional car insurance options to cover vehicle and property damage.

Comprehensive car insurance or TPFT could be car insurance options worth considering if you want the repair or replacement costs to your own vehicle to be covered. Comprehensive covers more insured events than TPFT but also has higher premiums. TPFT only covers your car for fire damage or if it’s stolen, and generally won’t cover collisions.

Conversely, TPPD is worth looking at if you’re looking for a more basic, cost-effective car insurance option. It generally only covers damages to other people’s vehicles and property caused by your car, unless your insurer agrees to cover your car when it’s damaged by an uninsured driver.

The table below is a summary of the cover each level of car insurance provides.

Insurers may consider several factors when , including:

• Your vehicle’s age, make, model and market value
• Your claims and driving history
• Where you park your car overnight and during the day (e.g. garage or street)
• Any modifications you’ve made to your car
• Your home address in the ACT.

Some ways you could reduce your car insurance premiums may include:

• Opting to pay annual premiums instead of monthly instalments
• Parking in a garage instead of on the street
• Putting an age restriction on your policy

Selecting a higher excess on your policy may also lower your premiums. However, always consider if this is an amount you can pay if you need to make a car insurance claim.

The Canberra or ACT suburb you reside in can affect the price of your premiums due to the level of risk and insurance claims in the area. Furthermore, where you park your car overnight could also affect your premium depending on your insurer. For example, if you park indoors in a secure garage, your premium may reflect the lower likelihood of someone stealing your car.

It’s wise to contact your insurer when you plan on moving, both to notify them of your new address and to understand if it will affect your premium.

Some policies allow you to insure the car for an agreed value. Having an agreed value policy means you’re likely to receive this amount you’ve chosen to be covered for if your vehicle is written off after an insured event (like a car accident).

The agreed value may change at the time of renewal, your insurance provider will list the value on your renewal notice.

In most cases, you’ll pay a basic excess when you submit a car insurance claim. However, you may also need to pay additional excesses depending on the circumstances of the incident.

For example, if someone who isn’t listed on the policy was driving your vehicle when an accident happened, you may incur an unlisted driver excess as well. Additionally, if the driver was under a certain age, they may face a young driver excess if that’s a part of the policy.

These features may be available to drivers as either standard inclusions or optional extras (for an additional expense):

• Towing after an accident. You can have your vehicle towed up to a certain kilometre radius from the incident.
• Hire car after an accident. If your vehicle is damaged in an accident, you may be eligible for a hire car until your vehicle is repaired or replaced, or you’ve reached the limit listed in your PDS (whichever comes first).
• Key and remote replacements. Your policy may cover the cost of replacement keys and remotes if yours are lost or stolen.
• Windscreen cover. You may have a reduced excess when making a claim for window glass replacement or the insurer may waive the excess for your first window glass replacement claim.
• Roadside assistance. A service that helps you get back on the road if your car breaks down.

These features have limits that will vary between insurers. Always read the relevant PDS for more information.

It depends on your level of cover. Comprehensive car insurance may cover your vehicle if it’s written off:

• In a car accident,
• By a weather event (e.g. storm or hail)
• From fire damage
• During a theft.

Some comprehensive policies may also have a new car replacement benefit. Typically, if you’re the first owner of a car, you may get a new one to replace it if it’s written off within a certain:

• Time frame (e.g. 2 years)
• Number of kilometres driven (g. 40,000km).

Some comprehensive car insurance policies may have a small amount of cover for damages to a caravan or trailer when it’s attached to your car. However, most car insurance policies only apply to your vehicle. The exact details of what’s covered will be in your PDS.

Some common exclusions shared across the different products and levels of cover include:

• Deliberate and wilful damage
• Being intoxicated at the time of the incident
• Normal wear and tear
• Illegal actions (such as too many people in the car or an unlicensed driver behind the wheel)
• Unapproved car modifications.