Australia’s cheapest car insurance? That’s tricky, but start with these award winners

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Best Car Insurance In Australia
Best Car Insurance In Australia

Best Car Insurance In Australia – Australia’s cheapest car insurance? That’s tricky, but start with these award winners.

Given everything that cars enable us to do – from our daily commute to connecting with family and friends (when social restrictions allow) – it makes sense that many Aussies opt for a comprehensive car insurance policy as a safeguard against unexpected events. But let’s face it, comparing car insurance policies isn’t the most entertaining activity.

Luckily, Mozo has a solution.

Every year Mozo’s data experts sit down and review car insurance policies across Australia to identify the top contenders in the Mozo Experts Choice Car Insurance Awards.

In late 2020, our Expert Judges gave out awards to car insurance policies in two different categories: Exceptional Value and Exceptional Quality.

Here, we’re digging into the policy details of a few of the Exceptional Value winners. While there is no one cheapest insurance provider or policy to suit everyone, our Expert Judges went through a rigorous research process to find car insurance policies that are among the cheapest for the kind of cover they provide across a range of different consumer needs.

“We understand that finding a great car insurance policy isn’t an easy or necessarily fun process for many Australians, which is why our awards are designed to highlight some leading policies that provide either exceptional value or exceptional quality,” Mozo Expert Judge Peter Marshall said.

“For the Exceptional Value Awards, we assessed more than 10,000 unique quotes and matched cost against minimum cover levels in order to find the insurance providers that consistently offered premiums lower than the competition for similar types of products.

“While these policies may not be the absolute cheapest around, we do believe that the combination of price and features they have on offer make them the best value for many Australians,” Marshall said.

To understand what these policies offer, let’s shine a spotlight on a few of the standout car insurance policies award in the 2020 Mozo Experts Choice Awards that are still offering great value into 2021:

Standout car insurance winners in 2021

Budget Direct Gold Comprehensive Car Insurance*

Budget Direct

15% online premium discount

Choice of repairer

New-for-old replacement

Go to site

Budget Direct already has a stellar reputation for providing Australians with great value insurance policies, but they’ve taken it to another level lately.

The budget-friendly provider took out wins across a number of car insurance categories, which helped it secure the crown of Value Insurer of the Year in 2020. They also laid claim to this title in the home insurance and landlord insurance Mozo Experts Choice Awards.

Mozo’s judges found that Budget Direct’s car insurance policies consistently ranked among the best value quotes around, while still maintaining a solid level of cover. With this comprehensive policy, you’ll get $500 of personal property cover, up to $1,000 to replace your car keys and locks, and you can opt-in to choose your own repairer after an insurable incident for an additional premium.

Plus, if your car is less than two years old and has driven under 20,000km, you’ll also get new-for-old car replacement if it’s written-off. Add the 15% discount on your first year’s premium just for signing up online, and you’ve got yourself a darn good deal that won’t dig too deep into your savings.

Youi Comprehensive Car Insurance*


New-for-old car replacement

$1,000 emergency travel and accommodation cover

Hire car after theft & not-at-fault accident

Go to site

Youi’s comprehensive car insurance policy combines sought-after flexible features and dedicated services at an accessible price. If your car is deemed a write-off after an accident or theft, Youi offers new-for-old car replacement, so long as your vehicle is under two years old and has travelled less than 40,000km.

There are other generous cover limits included in this policy. In an emergency, you’re covered for up to $1,000 in essential repairs, travel and accommodation when you’re more than 100km from home, which can be used flexibly depending on the situation. On top of this, Youi will cover towing costs for up to 50km in regional areas and 20km in metropolitan areas.

Drivers who require their car daily will be pleased to know that hire car coverage for 14 days is included as standard after a theft or an accident where you are found to not be responsible for damages. You can also include at-fault hire car cover as an optional extra for an additional premium.

Woolworths Comprehensive Car Insurance*


Pay Less, Drive Less policy option

Up to a 15% discount for applying online

Rideshare cover included

Go to site

You’ll find all kinds of cost-effective inclusions within this policy that’ll suit customers with a range of different driving needs. For those who don’t drive very often, Woolies offers their Drive Less, Pay Less option. This allows you to set an annual kilometre range which, if you stay under it, will score you a discount on your premium.

It’s also a suitable policy for people working as drivers through a rideshare app like Uber or Ola. This is very important for anyone using their car for this purpose, as car insurance for ridesharing provided by these companies doesn’t generally cover damage to your own or other vehicles.

Other flexible money-saving features include a broad choice of excess ($500 – $2,000), a choice between agreed or market value, and new-for-old car replacement so long as your wheels are less than two years old. There’s also up to a 15% discount on your first year of cover with this policy if you apply online.

* Terms, conditions, exclusions, limits and sub-limits may apply to any of the insurance products shown on the Mozo website. These terms, conditions, exclusions, limits and sub-limits could affect the level of benefits and cover available under any of the insurance products shown on the Mozo website. Please refer to the relevant Product Disclosure Statement on the provider’s website for further information before making any decisions about an insurance product.

^See information about the Mozo Experts Choice Car insurance Awards

Other top value car insurance policies

These insurance companies had other winning providers beside them in the ranks of Mozo’s Exceptional Value Car Insurance Awards. So, if you’re looking for affordable car insurance policies in 2021, make sure to also investigate:

– RAC Comprehensive Car Insurance

– RACV Comprehensive Car Insurance

– SGIO Comprehensive Car Insurance

– QBE Comprehensive Car Insurance

Ready to take a look at all the winners? Check out the latest Mozo Experts Choice Car Insurance Awards winners list. You can also read through our Car Insurance Awards methodology report to better understand how the awards were judged.

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