Car Insurance ACT
Whether you’re in Canberra or living rurally in the ACT, compare car insurance quotes in one place online today.
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It doesn’t matter if your home sits in the heart of Canberra or in surrounding areas like Belconnen, Tuggeranong or Gungahlin; having the right car insurance is crucial for all Australian Capital Territory drivers. That's why comparing your coverage options is essential to help you find the best possible policy. You can easily compare car insurance quotes from leading insurers online, considering offers based on their premium, coverage, optional extras and excess. Get started today!
What different types of car insurance are available in the ACT?
In the ACT, you have several car insurance options to protect your vehicle and provide financial security in case of a covered accident or specified circumstances. These are:
- Comprehensive car insurance: offers the highest level of coverage and can protect against various risks such as accidents, fire, theft, vandalism, and weather events which may cause damage to your vehicle. It can also cover damage to third-party property for which you are liable.
- Third party fire and theft (TPFT) insurance: can provide coverage for fire or theft-related damage to your car, in addition to damage caused by your vehicle to someone else's property. This is considered the mid-tier option when it comes to non-compulsory car insurance.
- Third party property damage (TPPD) insurance: can cover damage caused by your vehicle to someone else's property, without coverage extending to your vehicle.
- Motor Accident Injuries (MAI) insurance: mandatory in the ACT for all registered vehicles, MAI insurance (known as CTP insurance or a Green Slip in other states) can cover your liability for personal injury or death caused by your vehicle to others. Drivers can choose from a set of licenced providers from which to purchase their MAI coverage.
| Claimable event | Comp. | TPFT | TPPD | CTP |
|---|---|---|---|---|
|
Damage to someone else’s property |
✓ |
✓ |
✓ |
✖ |
|
Damage to your car due to fire |
✓
|
✓
|
✖ |
✖ |
|
Damage to your car due to theft |
✓
|
✓
|
✖ |
✖ |
|
Damage to your car due to weather |
✓*
|
✖ |
✖ |
✖ |
|
Damage to your car due to accident or collision |
✓ |
✖ |
✖ |
✖ |
|
Injury or death of someone else in an at-fault accident |
✖ |
✖ |
✖ |
✓
|
*Not all weather-related incidents are covered under a comprehensive car insurance policy. Check your PDS to find out what's covered and what isn't.
All car insurance coverage on all policies is subject to the terms and conditions of your policy and your insurer, so it’s important to refer to your policy documents if you’re unsure about what is and isn’t covered.
What factors influence the cost of car insurance in the ACT?
When calculating how cheap your car insurance is, several factors come into play:
- Age and driving experience: young and inexperienced drivers usually face higher premiums compared to older, more experienced drivers.
- Driving record: a history of accidents, driving offences or extensive claims can all increase the cost of your insurance.
- Vehicle details: factors such as make, model, age, and value of the car can impact insurance rates, with more valuable or imported vehicles and those in poorer condition often attracting higher premiums.
- Vehicle usage: annual distance driven and the purpose of use (such as whether it’s personal or work-related) can influence premiums, with more time on the road leading to costlier premiums. For instance, car insurance for couriers won’t cost the same as for someone who purely uses their vehicle for private commuting.
- Location: premiums may vary based on the area's accident and theft rates, so you might not pay the same amount living in Canberra compared to further out in Hall.
- Parking location: it’s not only about where you live but also how you park your car. Cars parked on the road are typically more expensive to insure than those in a garage or secure carport.
- Excess amount: opting for a higher excess can lower premiums but result in higher out-of-pocket expenses when making a claim.
- Policy type: the choice between comprehensive, TPFT, or TPPD coverage will affect the cost, with comprehensive being the most expensive and TPPD being the cheapest.
To give yourself the best chance of finding the most suitable and cheapest car insurance policy for your profile, it's important to compare quotes from different insurers, as they may assess these factors differently.
What car insurance factors should I compare when choosing my policy?
When comparing car insurance offers in the ACT, there are several factors to consider to help you make an informed decision:
- Policy cost: evaluate the premium rates offered by different insurers to help you avoid overpaying. However, keep in mind that the cheapest policy may not provide the necessary coverage.
- Inclusions and exclusions: thoroughly review the inclusions and exclusions of each offer to understand what’s covered and what isn't. Be aware of standard exclusions like drink driving or driving an unregistered car, as well as whether you can take out a policy as a non-owner of the vehicle.
- Excess options: compare the excess requirements of different insurers. Think about whether the available excesses are affordable for you in case of a claim.
- Optional extras: assess the availability of optional extras such as roadside assistance, windscreen repair or hire car coverage. Consider their value and whether they’re necessary or useful for you based on your individual needs.
- Discounts and bonuses: see whether any discounts or other promotions are available which could help you save money. These may include things like multi-policy discounts, a carry-over of your current no-claim bonus or promotional discounts for online sign-ups by a certain date.
- Monthly or annual payments: some insurers may offer discounts for annual payments, while others may allow you to make monthly instalments at no extra cost. Because of this, it’s crucial to choose the one which suits your financial situation and preferences.
By considering these factors and comparing car insurance offers from different insurers, you can maximise your chances of finding the best policy available which meets your needs in terms of cost, coverage and flexibility. Remember to carefully review the policy documents to ensure you have a clear understanding of the terms and conditions before cancelling your current policy and making the switch.
What are the legal requirements for car insurance in the ACT?
In the ACT, the main legal requirement for all registered vehicles is to have MAI insurance. As mentioned, this insurance is designed to provide coverage for personal injury or death caused by your vehicle to other people, regardless of who is at fault for an accident.
It’s still important to consider comprehensive or third-party car insurance, even though they aren’t a requirement to have. Taking out one of these policies can provide a much-needed financial safety net to you, allowing you to drive around with more peace of mind that if a covered event takes place, you won’t have to pay the full amount out of pocket.
Types of car insurance you can choose from
The most basic type of optional cover available, TPPD insurance can offer protection for damage caused by your vehicle to other people's property. However, no damage to your vehicle will be covered.
A step up from TPPD, TPFT insurance can also cover damage to your vehicle sustained due to a fire or theft (or attempted theft) in addition to third-party property damage if you're in an at-fault accident.
The most extensive (and expensive) form of cover, comprehensive car insurance can also offer cover for damage to your vehicle in an accident, collision and certain weather events on top of the areas TPFT covers.
Frequently asked questions about car insurance in the ACT
Helpful guides on car insurance
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Disclaimer:
Savvy (ABN 78 660 493 194, ACR 541 339) provides readers with a variety of car insurance policies to compare. Savvy earns a commission from our partnered insurers each time a customer buys a car insurance policy via our website. All purchases are conducted via our partners’ websites. The integrity of our comparison service is unaffected by our partnerships with those businesses and our effort remains to bring further brands that do not already use our comparison service onboard.
Savvy’s comparison service includes selected products from a panel of trusted insurers and does not compare all products in the market. Any advice presented above or on other pages is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an insurance policy. We always recommend readers to consult the Product Disclosure Statement (PDS) of different policies before purchasing your car insurance.