Car Insurance Calculator
Learn about the factors which determine your car insurance premium calculation and compare quotes and estimates online.
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When it comes to choosing the right car insurance policy, it can be challenging to know where to start. However, it’s important to have an estimate of how much your car insurance premium will be based on your circumstances before you buy. Factors such as your age, driving experience, car type and location can all impact your premium, so it's essential to get an accurate idea of the cost.
How do I calculate the cost of car insurance?
The simplest and most effective way of calculating your car insurance cost is to get a quote, which you can do easily online. This will give you an estimate of what different insurers are willing to charge you for cover based on your profile as a driver and car owner. However, while each insurer will offer different prices and have different methods of estimating car insurance quotes, some of the main factors which can impact the cost of your policy include:
- Age: generally, younger and less experienced drivers are considered riskier to insure and are therefore charged higher premiums than older drivers, such as those over 50.
- Location: the area where you live can impact your car insurance costs. For example, if you live in an area with a high rate of car theft or accidents, your premiums may be higher. Additionally, these costs differ between states, meaning you may pay less in Tasmania than in New South Wales.
- Car type: the make and model of your car can also impact your insurance premiums. More valuable or powerful cars may have higher premiums, as they can be more expensive to repair or replace.
- Driving record: your driving history can also impact your premiums. For instance, if you have a history of accidents or traffic offences, you may be considered a higher risk and charged more for insurance.
- Coverage level: the level of coverage you choose can also affect your premiums. For example, comprehensive car insurance will generally cost more than just third party property damage coverage.
- Excess amount: The higher your excess, the lower your premiums may be, but you'll need to pay more out of pocket if you end up having to make a claim.
- Car parking: where you park your car overnight can also affect your insurance premium. Cars parked in a secure garage are less likely to be stolen or damaged than those parked on the street, which can result in a lower premium.
- Car usage: how you use your car can also affect the cost of your insurance. If you use your car for business purposes such as ridesharing or for long commutes, you may face a higher premium. Using your car only for personal reasons or short commutes may result in a lower premium.
- Car insurance discounts: there are various discounts available for car insurance, such as no-claim bonus, multi-policy discount, sign-up discounts and more.
- Optional extras: car insurance policies may come with optional extras such as roadside assistance, rental car coverage or windscreen damage. While these extras can be helpful, they can also increase the cost of your premium.
How can I get a car insurance quote online to calculate my premiums?
Getting a car insurance quote online is easy. You simply need to:
Complete an online form
You’ll have to share some information about yourself, as well as your vehicle and the cover you're looking for. This should only take a few minutes.
Compare policies side-by-side
After submitting the form, you’ll be able to access and compare online quotes from a range of insurers based on your profile.
Purchase your policy
Once you’ve completed your comparison, you can buy a policy online if it satisfies your requirements. This can kick in as soon as today once you’ve finalised the paperwork.
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.
Common questions about calculating car insurance costs
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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.