Insurance for car brands

Toyotas accounted for 16.8% of all Compare the Market car insurance sales in 2023, making it the most popular car brand on our service.¹ The Toyota Corolla (21.4%), Hilux (15.7%) and Camry (11.9%) were the three most popular Toyota models insured by our partners through our comparison service. In fact, the Toyota Corolla was the most popular car model overall in policies sold through Compare the Market in 2023.

Mazda vehicles were the second most popular brand, accounting for more than 9% of sales through Compare the Market across all car brands.¹ Most of these were for the Mazda 3, which made up just over a third of all Mazda models insured by our partners through our comparison service. It was also the second most insured car overall. The CX-5 (15.7%) and Mazda 2 (11.5%) were the next most insured Mazda models.

Hyundai was a close third behind Mazda, making up almost 8.5% of car insurance sales through Compare the Market in 2023.¹ The most popular Hyundai models for this year were the I30 (29.4%), Tucson (12.9%) and Accent (8.1%).

Although Holden stopped producing vehicles in 2017,² the brand was still popular in 2023.¹ It made up around 7.1% of all sales through our service, with almost a quarter of Holdens insured during this time being Commodores (24.2%). The Cruze (12.6%) and Captiva (11.4%) were also well represented by our customers.

The Ford rounds out the top five with 7% of sales through Compare the Market’s comparison service in 2023.¹ The Ranger (31.6%) was the most popular Ford model, while the Falcon and Focus represented 17.8% and 12.4% of our car insurance sales for Fords respectively.

In sixth place in 2023 was the Mitsubishi, as it accounted for 6.1% of all Compare the Market car insurance sales.¹ Almost a quarter of Mitsubishis were Tritons (24.6%), while Outlanders (18.5%) and Lancers (16.6%) were also popular Mitsubishi models among our customers.

Making up 5.7% of Compare the Market’s car insurance sales, Nissan was the seventh most popular brand insured by our partners through our service in 2023.¹ Navaras, X Trails and Qashqais were the top three insured Nissan brand cars, accounting for 25.5%, 23.4% and 8.3% of all Nissans respectively.

The iconic Volkswagen (also known as the ‘VW’) made up 4.7% of Compare the Market’s car sales in 2023, placing the brand in eighth place.¹ Almost a third (32.6%) of policies purchased for VWs were for the Golf, while Tiguan (14.7%) and Polo (11.8%) were the next most popular cars for the brand.

In ninth place was the Kia, which made up 4.4% of all car insurance sales through Compare the Market’s service in 2023.¹ The Cerato (24.4%), Rio (18.3%) and Sportage (17.4%) were the three most popular Kia models insured over this period.

Honda rounded out the top 10 car brands people purchased car insurance for through Compare the Market’s comparison service in 2023.¹ The Honda Civic, CRV and Jazz were the top three Honda models, representing 25.5%, 25% and 14.4% of all car insurance policies bought for Hondas through us in that same year.

The make and model of your vehicle does affect how much your car insurance costs. This is because of various factors related to brands, such as:

• The car’s market value
• The cost of parts and repairs
• Any other specific facts about the car (like accessories and factory options).

The make and model of your motor vehicle isn’t the only thing that affects your premiums, though. Other factors like your age and gender, your yearly kilometres driven, your address and driving history also influence how much you pay for car insurance.

There are different levels of cover you can purchase in Australia:

• Comprehensive car insurance policies provide coverage for loss or damage to your car caused by accidents, fires, theft, storms, vandalism, hail and more. You’re also covered for any damage you cause to another person’s vehicle or property in a car accident.
• Third Party Fire and Theft (TPFT) car insurance covers your vehicle for fire damage or if it’s stolen, but not for accidental damage. It can, however, cover the repair or replacement costs of another person’s vehicle or property if you cause the damage.
• Third Party Property Damage (TPPD) policies are the most basic car insurance products and covers your liability for the damage or loss you cause to another person’s vehicle or property.
• Compulsory Third Party (CTP) insurance or equivalent cover (e.g. Green Slip in NSW or the TAC in Victoria) is mandatory for all drivers in Australia. It covers your liability if your vehicle causes injury or death to someone. Most states and territories in Australia include this in your vehicle registration fee.

On top of the standard car insurance products, you may also have the option to add on extras like roadside assistance, windscreen excess cover and accident hire car cover.

Policies may differ depending on your car insurance provider. Always read the Product Disclosure Statement (PDS) of any policy you’re looking to purchase for more information on inclusions, exclusions and annual limits. The Target Market Determination (TMD) could also help you figure out if the product is right for you.