Car insurance in Sydney
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A guide to car insurance in Sydney
Updated 12 August 2024
What types of car insurance are available in Sydney?
Comprehensive car insurance
A comprehensive car insurance policy offers the most cover for your car, and accidental damages you might cause to other people’s vehicles and property.
Third Party Fire and Theft (TPFT)
Along with damages to other vehicles and property, TPFT also covers your car if it’s stolen or damaged by fire.
Third Party Property Damage (TPPD)
Generally the most basic car insurance policy out of the optional products, TPPD only covers other vehicles and property you damage in a car accident, except when an uninsured driver damages it.
Green Slip (Compulsory Third Party)
Known as CTP insurance in some other states in Australia, a Green Slip is mandatory for all vehicles registered in NSW. It covers your legal liability for injuries and deaths in a car accident where you’re at fault. It’s typically included in your vehicle registration.
What type of car insurance should I get in Sydney?
If your main concern is the damage you could cause to other people’s cars and property, you might consider TPFT or TPPD. These third party car insurance options provide basic cover and are generally cheaper than comprehensive car insurance. However, they only cover your car in limited circumstances.
Comprehensive car insurance typically offers the most cover for your car, as well as more optional extras to choose from. New car replacement cover may also be available on comprehensive policies as specified by your insurer. Other terms and conditions may apply.
This table is a guide to what is typically included and excluded from each level of cover.
| Insurance type | Damage to your car in an accident | Damage to another person’s car or property | Damage/loss caused by fire and/or theft |
| Comprehensive | ✓ | ✓ | ✓ |
| TPFT | ✗ | ✓ | ✓ |
| TPPD | ✗ | ✓ | ✗ |
Always read the relevant Product Disclosure Statement (PDS) for more information on inclusions, exclusions, annual limits and more. The Target Market Determination (TMD) could also help you figure out if the car insurance cover is right for you.
How much is car insurance in Sydney?
As of March 2024, the average cost of comprehensive car insurance premiums in Sydney is $50.60 per week.1 This is slightly more than the national average of $46.51 per week.
However, this average should only be used as a guide, as several factors come into play when calculating the cost of your car insurance premiums, including:
- Your age and driving experience
- Your claims history
- Your vehicle and how often you drive
- The cost to replace and repair parts
- The suburb you live in
- Where you park your car.
The amount of excess you pay may also affect your car insurance premiums. Increasing your basic excess could lower your premium and vice versa. Consider whether you could afford to pay a higher excess if you need to make an insurance claim.
Where you live in Sydney could impact how much your insurance costs. Factors such as your parking location, traffic accident statistics and the general crime rate in your suburb may influence your likelihood of making an insurance claim.
Car accidents in Sydney
Between 2018 and 2022, 3,224 car accidents were registered in Sydney.2 The majority of car accidents in Sydney occurred at intersections (59%), while the most common types of crashes during between 2018 and 2022 were:
- Rear endings (664)
- Pedestrian accidents (524)
- Side swipes or lane changes (424).2
Car thefts in Sydney
Although vehicle thefts remained lower than pre-pandemic levels in 2023, stolen cars in this time were less likely to be recovered in Greater Sydney than they were in Regional NSW.3 Regional areas made up the top nine places where cars were most likely to be recovered, while suburbs in Greater Sydney made up three of the bottom five.3
Cars stolen in Hawkesbury were only recovered 37.2% of the time, making it the least likely place to recover a stolen vehicle in NSW.3 Canterbury Bankstown (46.2%) and Hornsby (47.5%) also made up the bottom five suburbs with the lowest stolen vehicle recovery rates.3
Which features should Sydney drivers look for?
These are some optional extras you might want to add to your policy if you live in Sydney:
- Hire car: So you have a car to drive if yours is stolen or being repaired.
- Windscreen repair: This can lower or completely waive the excess you pay for window glass repairs.
- Choice of repairer: This allows you to choose your own car
- Roadside assistance. Cover for common breakdown problems.
Keep in mind that including these optional extras in your policy may increase your premium.
Meet our car insurance expert, Adrian Taylor
As Executive General Manager of General Insurance at Compare the Market, Adrian Taylor is passionate about demystifying car insurance for consumers, so they have a better understanding of what they’re covered for. Adrian’s goal is to make more information available from more insurers, to make it easier to compare and save.
Want to know more about car insurance?
1 Australian Automobile Association – Transport Affordability Index March Quarter 2024. Accessed July 2024.
2 NSW Bureau of Crime Statistics and Research – The increase in motor vehicle theft in NSW up to March 2023. Accessed July 2024.
3 Transport for NSW – Interactive crash statistics. Accessed July 2024.