These are the top 10 car insurance companies in Australia
The Australia car insurance market is highly competitive, which can make it difficult for consumers to choose the right policy for them. Often, car insurance customers make their choices based on price – but as any insurance broker will tell you, there’s a lot more to consider – such as the specifics of the policy, your personal needs and the standard of customer service provided.
lists car insurance companies in Australia according to customer reviews. Here we summarize the top 10 car insurance companies in Australia according to their customer feedback. Figures correct till August 2022.
1. Australian Seniors
Overall rating: 4.7 from 2,357 reviews.
According to the productreview.com.au website, Australian Seniors is the top ranking car insurance provider in Australia, receiving ratings of 4.6 for transparency, 4.7 for value for money and 4.7 for customer service. Notably, out of 92 people who claimed the website, 88 had their claims approved.
Australian Seniors car insurance policies are underwritten by Hollard with comprehensive, third-party property damage and third-party, fire and theft cover options available. Legal liability cover can include up to $20 million, while roadside assistance is available as an optional extra.
2. Australian Warranty Network (AWN)
Overall rating: 4.5 from 899 reviews.
AWN received ratings of 4.7 for transparency, 4.7 for value for money and 4.7 for customer service on productreview.com.au. Customers appreciated the insurer’s quick response to enquiries, excellent service and efficient claims processing.
AWN is known for its mechanical breakdown insurance, which provides coverage for various vehicles like cars, motorbikes, scooters, motorhomes and caravans. Its other products and services are general insurance, administration and claims management, roadside assistance, asset protection and training programs.
Overall rating: 4.1 out of 6,756 reviews.
Youi Pty Ltd received ratings of 3.9 for transparency, 3.8 for value for money, 4.1 for customer service, 3.9 for timeliness and 3.6 for job satisfaction. Customers found it easy to set up their insurance policies and claim as the staff was friendly and informative throughout the process. Free roadside assistance is also a big hit with consumers as many other insurance companies charge for this service in a separate contract.
Youi is a wholly owned subsidiary of OUTsurance International Holdings Pty Limited, part of the Rand Merchant Insurance Holdings Group (RMIH). It underwrites its policies and its products include car, motorcycle, caravan and trailer, building and contents, watercraft and business liability insurance.
4. Budget Direct
Overall rating: 3.9 from 7,262 reviews.
Budget Direct received ratings of 3.9 for transparency, 4.1 for value for money, 4.0 for customer service, 4.0 for timeliness and 3.8 for job satisfaction. Customers were able to get their insurance quickly due to the easy-to-understand policy and hassle-free process.
Budget Direct is a general insurance company that employs more than 1,300 people, serves nearly nine million customers and has partnership agreements with hundreds of car repairers and building contractors in Australia. Policyholders can claim 24/7 and customize their coverage by adding one or more optional features, including car hire after an accident or flood cover for their home.
5. Integrity Extended Warranty
Overall rating: 3.9 from 482 reviews.
Integrity Extended Warranties received ratings of 3.8 for transparency, 3.9 for value for money and 4.0 for customer service. Customers were satisfied with the quality and affordability of their policies. Some policyholders who filed claims multiple times did not experience any problems due to courteous staff and quick processing.
Integrity Extended Warranty maintains long-standing relationships with industry leaders such as the Royal Automobile Club of Victoria (RACV) and Lumley Insurance. Its coverage plans are comprehensive and endurance. Full coverage plans are available from motor dealers and provide the same level of cover as the manufacturer’s warranty after expiry. Meanwhile, the Endurance Plan is a warranty on listed components and parts, with term cover of one to five years for the car regardless of age and distance travelled.
6. Actual insurance
Overall rating: 3.3 from 517 reviews.
Real Insurance Pty Ltd is rated 3.5 for transparency, 3.8 for value for money, 3.7 for customer service, 3.6 for timeliness and 3.9 for job satisfaction. Satisfied customers praised the insurance company for processing claims and repair requests quickly and professionally.
Real Insurance claims to be the first Australian insurer to launch pay as you drive car insurance and the first insurer worldwide to launch a trust-based model of this type of insurance. It allows consumers to include additional coverage in their policy for added protection or keep their premiums affordable by opting for basic coverage.
7. Eric Insurance
Overall rating: 3.3 out of 105 reviews.
Eric Insurance received a rating of 3.5 for transparency, 3.6 for value for money and 3.7 for customer service. Customers were satisfied with the insurer’s affordable policies and courteous staff who thoroughly educate customers about the products.
Eric Insurance is a general insurance company with over 20 years of experience in the auto insurance market. It is known for its comprehensive range of car insurance, motorcycle insurance, motor vehicle warranty insurance, motor vehicle tire and wheel insurance, motorcycle warranty insurance, and motorcycle tire and wheel insurance products.
8. Huddle Insurance
Overall rating: 3.1 out of 90 reviews.
Huddle Insurance received a rating of 3.1 for transparency, 3.5 for value for money and 3.2 for customer service. Policyholders were satisfied with its affordable policies, excellent customer service and speedy processing of claims and repairs.
Huddle Insurance has over 35,000 active members and a small army of Huddle Bots, AI-powered bots that use algorithms to generate useful data sources to assist customers 24/7. Its car insurance line includes comprehensive and third-party property plans with various benefits and optional features. A comprehensive plan covers loss or damage to the policyholder’s car and damage to someone else’s property or car. Meanwhile, a third-party property plan only covers damage to other people’s vehicles or property.
9. Woolworths Insurance
Overall rating: 2.5 from 862 reviews.
Woolworths Insurance received ratings of 2.3 for transparency, 2.6 for value for money, 2.4 for customer service, 2.3 for timeliness and 2.6 for job satisfaction. Satisfied customers noted the insurance company’s “cost-competitive policies and superior claims processing.”
Woolworths Insurance’s car insurance products include Drive Less Pay Law; third-party property, fire and theft; third-party property damage; and comprehensive car insurance. Woolworths offers comprehensive cover for part-time drivers driving on low wages. Third-Party Property (Fire and Theft) Plan covers all benefits for loss of third-party property as well as theft or attempted theft, malicious damage and fire.
A third-party property damage product includes liability coverage for anyone who is legally driving the policyholder’s car without permission. Meanwhile, a comprehensive car insurance plan protects policyholders against financial risks arising from crashes and collisions, damage to another person’s vehicle or property, theft and vandalism, natural calamities, transport accidents and damage caused by other drivers or passengers.
10. State Government Insurance Office (SGIO)
Overall rating: 2.5 from 258 reviews.
SGIO received a rating of 2.3 for transparency, 2.4 for value for money and 2.5 for customer service. Some customers who have been with the insurance company for many years vouch for excellent customer service, affordable policies and easy claims processing.
SGIO is an insurance company backed by Insurance Australia Group (IAG), one of the largest general insurers in Australia and New Zealand. Its car insurance line offers various plans to suit the needs of customers, such as comprehensive; Comprehensive plus; third-party damage; third-party fire and theft; and veteran, vintage and classic vehicles.