Are you a senior Australian driving less than 10,000 km a year? If so, you might be paying too much for your car insurance and could benefit by switching to a pay-as-you-drive policy*. With the average car insurance premium rising by $274 in 2023 compared to 2022, it's time to take a closer look at your policy.

Car insurance premium increases have FAR outstripped inflation over the last 12 months

According to Canstar’s Steve Mickenbecker, "The average increase we're seeing nationally is 18 per cent compared to last year." But don't worry, there's a solution that could save you hundreds of dollars: pay-as-you-go car insurance.

'Compare the Market*', a leading comparison business, has helped customers save significantly on their car insurance. They compare as many as 10 different car insurance companies to help find a better deal. One customer even saved a whopping $418 on her car insurance!

So, how can seniors save on car insurance? Here are some tips from Compare the Market*:

1. Pay-as-you-drive policies: If you don’t drive often throughout the year, these policies come with a discounted premium.

2. Increase your excess: Choosing a higher excess can reduce your insurance premiums. However, this means your excess will be more expensive if you make a claim.

3. Restrict the age of drivers: This can help reduce the price of premiums, but it means your children or grandchildren might not be allowed to drive your car.

4. No claim bonuses and discounts: If you haven’t made a car insurance claim in a set number of years, you can make use of a no claim bonus.

5. Purchase cover online: Some insurance companies offer discounts if you purchase your car insurance through their website.

6. Compare insurance annually*: Car insurance policies almost always increase in price every year, even if you haven’t made a claim. Comparing policies every year can help you find a better deal elsewhere.

Adrian Taylor, Executive General Manager of General Insurance at Compare the Market, "Your renewal policy should show both last year’s premium and your new premium, meaning you can instantly see how much more you’re being asked to pay. Make note of the difference to see how big the new change is before comparing car insurance."

So, if you're a senior Australian driving less than 10,000 km a year, don't let your car insurance premiums drive you up the wall. Visit Compare The Market today* and discover how much you could save on your car insurance.

*Please note, members, this is a sponsored article. All content of ours that has an asterisk next to it means we may get a commission to write an article or post a deal. We simply do this to assist with the costs of running the SDC. Thank you!

 

[Ezzy]

I wouldn't drive anywhere near 10,000 km per year. I once read where customers who just renew a policy without phoning around are penalized in their premiums, which is possibly why we are encouraged to get a policy on site with a phone call.

 

[Spondonian]

My car premium went from $712 last year to $913 this year with youi . I'm a member of NRMA so got quote from them for $590 ! So went back to youi , didn’t tell them about NRMA Quote, and told I wasn't happy with the price and was looking for other quotes. They came back to me with , if you can believe this, with a revised quote of $591 ! This was less than what they charged last year ! To me they were ripping me off so I went with NRMA .

 

[Suzanne rose]

I thought everyone knew this.
This year I didn't realise we have gone over the km all I had to do was call abd they added another 2,000 km it did cost another $84 for the year .
It's worth checking price of insurance when your renewal comes in . My home n home contents went up by 25 % which was $1,000. That was with Australian Seniors so I got a quote from a few and now from the beginning of January my insurance will be back with Apia who I was with 3 years ago.
I left Apia because their premium rose alot ,now my quote is pretty much the same as when I was first with Apia. So it really is worth calling around even your old insurance company

 

[maggiej]

My car is due for insurance right now so I just did a compare but honestly they want so much information I gave up . It asked for when I first had a license and I have been driving for 68 years and my only accident was when I first started and it was only minor damage to my car and did not involve any other person or vehicle. I travel less than 5000 km a year. I did not own a car in my name until about 20 years ago as we only had the one vehicle and it was in my husband's name so I had to start without any no claim bonus when we did buy the new vehicle about 20 years ago in my name.

 

[Suzanne rose]

My car is due for insurance right now so I just did a compare but honestly they want so much information I gave up . It asked for when I first had a license and I have been driving for 68 years and my only accident was when I first started and it was only minor damage to my car and did not involve any other person or vehicle. I travel less than 5000 km a year. I did not own a car in my name until about 20 years ago as we only had the one vehicle and it was in my husband's name so I had to start without any no claim bonus when we did buy the new vehicle about 20 years ago in my name.

Don't do compare , ring around yourself or if you are able to get quotes on line , it's very quick.
I would start off with Apia and Australian Seniors I found them to be the cheapest for Seniors . Also if you know how roughly how many km you drive then you may get cheaper insurance by choosing to stay under 4000km , 6000km or under 10,000 km

 

[maggiej]

Don't do compare , ring around yourself or if you are able to get quotes on line , it's very quick.
I would start off with Apia and Australian Seniors I found them to be the cheapest for Seniors . Also if you know how roughly how many km you drive then you may get cheaper insurance by choosing to stay under 4000km , 6000km or under 10,000 km

Thanks Suzanne I always check and am about to do this today but in the past I have fund the Seniors insurance much dearer. My insurance has gone up just over $200 so not happy with that. I realise now that if we had left car insurance in my husband's name then he would have still had no claim bonus on my car. Live and Learn.

 

[Suzanne rose]

Thanks Suzanne I always check and am about to do this today but in the past I have fund the Seniors insurance much dearer. My insurance has gone up just over $200 so not happy with that. I realise now that if we had left car insurance in my husband's name then he would have still had no claim bonus on my car. Live and Learn.

I'm insured with Australian Seniors atm until the 7th Jan but the house insurance went up $1000. Funny thing I left Apia because their increase was huge and now it's cheaper and pretty much what I was paying before they increased it.
When I cancelled it with Apia the lady actually told me to try again in a year or two and I might be surprised

 

[mustang]

I have gone with NMRA for car and contents. I found they were cheaper and I am happy with my premiums

 

[Ezzy]

I'm insured with Australian Seniors atm until the 7th Jan but the house insurance went up $1000. Funny thing I left Apia because their increase was huge and now it's cheaper and pretty much what I was paying before they increased it.
When I cancelled it with Apia the lady actually told me to try again in a year or two and I might be surprised

Thankyou for the update Suzanne. That was kind of that lady to give that advice. $1,000 is a v.big jump. More than could be reasonably expected.

 

[midgemills]

If you have other products with NRMA eg: green slip, road assistance and other insurance it's worth going to a local NRMA office and having a chat with an insurance assistant. I saved over $900 on my home and contents insurance this year as QBE had almost doubled what I had been paying them for several years.

 

[Suzanne rose]

I really think it depends in which state you live in but either way shop around and do it yourself not through a Compare the market site

 

[Macarj]

My house and two cars are with APIA and yes each year it goes up so I ring them and ask for best price because your rates went up they always drop it this is after I have checked other companies so I now when to accept if they don't drop far enough I say I will go else where and they always want to know which company I don't tell them They always ring me back with a lower cost so I am still with APIA

 

[Ezzy]

My house and two cars are with APIA and yes each year it goes up so I ring them and ask for best price because your rates went up they always drop it this is after I have checked other companies so I now when to accept if they don't drop far enough I say I will go else where and they always want to know which company I don't tell them They always ring me back with a lower cost so I am still with APIA

Thank you for that info. I will try this myself for a cheaper rate. I think insurance these days is a necessity.