Insurance for car brands
Tips from Compare the Market’s car insurance expert, Adrian Taylor
Adrian Taylor
Executive General Manager – General Insurance
Do your research before you buy a car
The type of car you drive can have a big impact on your insurance premiums. It’s a good idea to do some research on the car you’re looking to buy and which type of insurance you’d like to cover it.
Weigh up your excess options
You may have the option to raise the standard excess payment of your policy to reduce the cost of your car insurance premium, while reducing your excess may increase your premium. But before you make this change, ask yourself whether you could still afford to pay this higher excess should you need to make an insurance claim.
Check for fees before you cancel your policy
You can change policies or switch car insurance companies at any time but remember to check for any cancellation fees first. If you paid your full annual premium upfront instead of monthly or fortnightly instalments, you’ll receive a pro-rata refund for the unused period of insurance.
Compare policies every year
Many insurers offer a discount for purchasing car insurance online, but this is usually for the first 12 months. It pays to compare car insurance at least once a year to keep up with any discounts on offer.
See which optional extras are available
Consider optional extras such as roadside assistance, windscreen or window glass protection or even your choice of repairer – these additional coverages could provide added peace of mind.
Top brands for car insurance purchases through Compare the Market
Car insurance for Toyota
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.
Car insurance for Mazda
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.
Car insurance for Hyundai
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%).
Car insurance for Holden
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.
Car insurance for Ford
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.
Car insurance for Mitsubishi
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.
Car insurance for Nissan
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.
Car insurance for Volkswagen
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.
Car insurance for Kia
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.
Car insurance for Honda
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.
Insuring a new car
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.
What types of car insurance are there?
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.
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?
- Compare the Market car insurance sales between 01/01/2023 and 01/01/2024. Accessed May 2024.
- Australian Broadcasting Commission (ABC) – Holden: Last vehicle rolls off production line as Australian car manufacturing ends. Accessed May 2024.