- December 23, 2019
- Posted by: srandhawa@fixnetwork.com
- Category: Industry Insights

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.
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:
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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 |
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Payment Options | Monthly only. |
Benefits |
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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 |
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Payment Options | Monthly and Annually. |
Benefits |
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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 |
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Payment Options | Monthly and Annually. |
Benefits |
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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 |
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Payment Options | Monthly & Annually. |
Benefits |
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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 |
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Payment Options | Monthly & Annually |
Benefits |
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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 |
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Payment Options | Monthly and Annually |
Benefits |
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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 |
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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 |
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Payment Options | Monthly and Annually |
Benefits |
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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 |
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Payment Options | Monthly and Annually |
Benefits |
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Costs | Get a Quote |
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.