Average Premiums in 2026
Comprehensive: $1,362/year (~$134/month)
Third-party property damage: $522/year (~$44/month)
Some third-party policies start from as little as $32/month for lower-risk drivers, based on Canstar's research across more than 30 comprehensive and 19 third-party insurers.
Cost by State
- Tasmania: $1,128/year — the most affordable state for comprehensive cover
- New South Wales: $1,698/year
- Victoria: $1,721/year — the most expensive state
Cost by Age
- Age 20: $2,387/year — nearly double the national average
- Age 30: $1,293/year
- Age 60: $899/year — the lowest bracket, reflecting lower claims rates
What Else Moves the Price
- Payment frequency — paying monthly instead of annually can add 10-20% to your total cost, with some insurers charging around a 15% instalment surcharge
- Agreed vs. market value — agreed value typically costs more but guarantees a fixed payout regardless of what your car depreciates to
- Excess chosen — a higher voluntary excess lowers your premium but increases what you pay out of pocket per claim
- Vehicle type and repair cost — cars with expensive parts or higher theft rates cost more to insure
- Driving history — at-fault claims and traffic offences push premiums up significantly
How to Reduce Your Cost
Paying annually rather than monthly, comparing quotes from at least 3-4 insurers rather than auto-renewing, and choosing a higher voluntary excess (if you can comfortably afford it in a claim) are the three most reliable ways to bring your premium down without dropping meaningful cover.
This page is for educational purposes and isn't personalised financial advice. Premiums, terms and eligibility vary by insurer, state and individual circumstances — always check the Product Disclosure Statement (PDS) before buying.