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Gear Up For The Best Car Insurance Deals On a Budget

10 best budget car insurance companies

Whether you’re financing a car or not, there are always other things to consider like servicing, registration and insurance. Sometimes insurance can drain the bank and when the time comes to claim. You don’t always get what you paid for, and sometimes there can be some nasty surprises hidden in insurance policies. That’s why you should always read the fine print. In addition, if you were to have a car accident, the other driver, whether responsible or not, may not be insured. That brings a bigger issue into the equation. According to Canstar, at least 2.3 million Australians are driving uninsured on our roads, making them ticking time bombs and costing Aussie drivers thousands each year.

Finder.com.au states that the average cost for car insurance in Queensland is around $752 per year. That’s a small fraction compared to the cost of repairs if you didn’t have car insurance.

It’s important that you get the right cover for your vehicle and many recommend purchasing comprehensive insurance. But what about Compulsory Third Party (CTP) Insurance? Being covered for any fatal accidents can be incredibly valuable.

However, we’ve realised that not everyone can afford the average $752 per year on insurance.

So, that’s why we’ve compiled a list of the top 10 best budget car insurance companies, their cost and what the insurance covers. If you click on the Get a quote tag, this will take you to the company’s website where they will give you a tailor-made quote for your vehicle. Every vehicle is different as it depends on your claim history, the make and model of your car and how old you are.

best car insurance on a budget

Top 10 Car Insurance Companies

1) Budget Direct

Founded in 1999 in Brisbane, Budget Direct offers value for money insurance to its customers.

They’ve also won Money Magazine’s Insurer of the Year three years running (2017, 2018, 2019) due to their low premiums, hence why it took our top spot!

Insurance Comprehensive, Third Party, Fire & Theft. CTP
Coverage Loss or damage to your vehicle, New-for-old replacement, Damage to other people’s property and Hire car following a no-fault accident or theft.
Payment Option Monthly and Annually
Benefits Gold Comprehensive: 

  • 2 years/40 k km for new car replacement.
  • Other damage coverage of up to 20 mil.
  • Covers damage caused by an uninsured driver
  • Hire car following theft and no-fault accident.
Cost Get a quote here.

2) Ubicar

Ubicar offers motorists a premium on HOW they drive. This includes how many kilometres you travel, where the car is parked and if you have an accident. If you go above or below your set policy, the premium then changes each month so you only pay for what you drive.

The idea is to reward safe drivers with lower premiums each month depending how they drive. This is done through the Ubicar App which measures your performance (score) and this is calculated towards your monthly premium.

Insurance Comprehensive, Third Party, Fire & Theft. CTP
Coverage
  • Payout of up to $500 of any personal clothing or belongings are damaged or stolen.
  • New car replacement.
  • Emergency accommodation (up to $250 per night).
  • Vehicle towing.
  • Accidental death benefit of up to $10k.
Payment Options Monthly only.
Benefits
  • Own car damage.
  • Open driver cover.
  • Lifetime guarantee on authorised repairs.
  • Temporary cover for your new car.
  • Agreed value.
  • Automatic cover for accessories.
  • Hire car after fire, theft or attempted theft.
  • Travel / accommodation costs.
  • Lost or damaged personal belongings.
  • New car replacement.
  • Lost or stolen keys.
  • Accidental death benefit.
  • Windscreen and window glass excess removal (optional).
  • Hire car after accident (optional).
Cost Quote here.

3) Bingle

Bingle has been insuring drivers since 2008 with a focus on keeping car insurance simple. Through this method, Bingle has covered over 650,000 Australians and paid out over 130,000 claims. To see if it’s worth taking a look, click on the Get a quote tag below.

Insurance Comprehensive and Third Party.
Coverage
  • Damage to your car, up to the market value.
  • Damage to someone else’s car or property caused by the use of your car.
  • Damage to your car from natural hazards like floods, hail, fire.
  • $20m for legal liability insurance.
  • No cancellation fee.
  • Online self-service.
  • Online claims lodgement.
  • Optional Extras.
  • Unlimited windscreen and glass cover.
  • Hire car.
  • New vehicle replacement.
Payment Options Monthly and Annually.
Benefits
  • Lifetime guaranteed.
  • Honest pricing.
  • 24/7 claims available.
Cost Get a quote here

4) Woolworths Insurance

Woolworths insurance was developed in partnership with the supermarket giant where it focuses heavily on family-orientated insurance. Their comprehensive premium has good value for money for those looking to tighten their budget and save a bit more money.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage
  • Collision
  • Theft or attempted theft and fire.
  • Malicious damage.
  • Natural events.
  • Legal liability.
  • Damage to other people’s property.
  • Additional benefits.
  • New for old replacement – 24 months.
  • Hire car after theft – up to $70 per day for 14 days.
  • Essential repairs – up to $500.
  • Child safety seats and prams – up to $500.
  • Locks and keys – up to $1,000.
  • Towing costs – reasonable costs.
  • Uninsured motorist extension benefit – up to $3,000 N/A.
Payment Options Monthly and Annually.
Benefits
  • Excess free windscreen cover (Optional).
  • Hire car cover(Optional).
  • Roadside Assistance.
Costs Start your quote here.

5) Suncorp

Suncorp insurance is part of the individual banking service that provides discounts to customers who buy their policies online. It also caters for multi-policy discounts as well as changing the level of excess to suit your budget and premium.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage 
  • Accidental loss or damage to your car from events such as flood, collision and impact.
  • Accidental loss or damage to another person’s vehicle or property.
  • Malicious damage or vandalism to your car.
  • Hire car after theft for up to 21 days.
  • 2 year new for old replacement following a write-off or theft.
  • After claim expenses.
  • Lifetime repair guarantee.
  • Hire car after theft for up to 21 days.
  • Two-wheel trailer cover.
  • Tools of trade cover.
  • Baby capsules and child seats.
  • Windscreen repair.
Payment Options Monthly & Annually.
Benefits
  • Save on your claim-free premium the longer you use it.
  • Use the Suncorp app to claim online 24/7.
Costs Get a quote.

6) RACQ

RACQ has over 100 years of service and is open to Queensland residents only. The Royal Automobile Club of Queensland Offers great discounts through their membership service and has some of the cheapest premiums in Queensland. But don’t take our word for it, see for yourself.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage
  • Cover for loss or damage to your vehicle in a flood, storm, theft, accident, vandalism or fire event.
  • Up to $20 million cover for damage to other people’s property caused by your car.
  • Choice of repairer and lifetime repair guarantee on work completed by an RACQ Insurance Selected Repairer.
  • Hire a car for up to 14 days if your vehicle is stolen.
Payment Options Monthly & Annually
Benefits
  • $50 online discount for Multi-Policies.
  • Roadside Assistance Discount.
  • No Claim Discount (NCD).
  • Become part of a reliable insurance company.
Costs Get a quote.

7) Youi

Like Ubicar, Youi goes by HOW motorists use their vehicles without the tracking app to measure your performance. Recently, Youi has gone on to win the CANSTAR award six years running. They also won the People’s Choice awards two years running for outstanding value insurance. So, that’s three great reasons to switch to Youi.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage
  • Accidental Damage.
  • Intentional Damage.
  • Storm or Flood.
  • Fire and or Theft.
  • Earthquake.
  • Emergency Accommodation, Transport and Repairs.
  • Legal Liability.
  • Towing Costs.
  • Additions to the Car.
  • Contents inside the Car.
  • Immediate Replacement Car.
  • Hire Car Following Theft.
  • Counselling Services and Not at Fault Hire Car.
  • Optional is the choice of repairer.
Payment Options Monthly and Annually
Benefits
  • Flexible Excess
  • Youi Rewards Program.
  • Allows all customers to save on products with discounted prices.
Costs Get a Quote.

8) Real Insurance

Real Insurance is a multi-award winning insurance company which started entering the Australian market back in 2005. They’re renowned for offering affordable cover to all Australians. The comprehensive package is amongst the most competitive premiums on the market.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage 
  • Theft, accidents, fire, or weather-related damage to your car
  • Other people’s cars or property damaged by you in an accident
  • New for Old replacement if your car is a total loss in the first two years.
  • Damage or loss of select personal property inside your car – up to $500.
  • Accidental damage or loss of child safety seats and prams – up to $500.
  • Essential repairs to get you back on the road, plus reasonable towing costs – up to $500.
  • Accommodation costs if a claim occurs more than 200km from your home
  • Up to 14 days hire car costs to keep you mobile.
  • Loss or damage to your car during transport anywhere within Australia.
  • Lock and key replacement to keep your car secure if your keys are stolen – up to $1,000.
Payment Options Monthly and Annually.
Benefits Save up to 10% when you buy online.
Costs Get a Quote

9) NRMA

NRMA Insurance backed by IAG, leading insurer in both Australia and New Zealand where they hold a significant amount of award-winning services. NRMA’s aim is to keep peace of mind to all of their customers. Their comprehensive insurance is one of the most popular packages available and it pays to have a look yourself.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage 
  • Accidents.
  • Theft & vandalism.
  • Fire, storm & flood.
  • Car hire after an accident or theft.
  • Towing.
  • New replacement car.
  • Emergency repairs.
  • Personal items.
  • Baby seats.
  • Tools of the trade.
  • Ridesharing.
  • Your extras are included.
Payment Options Monthly and Annually
Benefits
  • No excess for glass damage.
  • Car hire after an incident we cover.
  • No Claim Bonus protection.
  • Choose any repairer.
Costs Get a Quote

10) Virgin Money

Virgin Money offers good perks for Virgin Money customers like discounts on shopping and gym memberships. Virgin customers can also earn up to 5,000 Velocity Points towards a reward system that allows customers to use their points as a currency to purchase items or holidays. Plus, their comprehensive package is pretty good, too.

Insurance Comprehensive, Third Party Fire & Theft, Third Party Property Damage.
Coverage 
  • Weather damage.
  • Car accident.
  • Stolen car.
  • Damage to third party property.
  • Hail Alerts.
  • Emergency Transport.
  • Roadside Assist.
Payment Options Monthly and Annually
Benefits
  • Tailor-made premiums.
  • Save 15 when you purchase online.
  • Guaranteed workmanship.
  • Virgin Perks.
Costs Get a Quote

budget car insurance deals

Insurance for Every Budget

When it comes to car insurance, it pays to shop around to find the best deal for you. Whether it’s monthly or annual payments, make sure it’s within your budget. When taking out a policy, be sure to check the choice of repairer as it may vary depending on the insurance company.

Should you need to find the right insurance for you and your budget, make sure it includes windscreen replacement.

Not everyone can keep their car in good knick, that’s why Novus offers windscreen replacement for many Queenslanders insured or uninsured. Contact Novus for more information about their quality products and services.