If there’s one trait Australian insurance providers cherish in a customer, it’s loyalty in a competitive market. Discount car insurance.
As it stands, competition is rife in Australia’s insurance industry – so much so that according to a recent JP Morgan/Taylor Fry report, some insurance firms suffered deteriorating profits over last year. The research also found that 56% of insurers identified competition as their biggest concern. On average, car insurance premiums have increased by nearly 9% from 2016.
This isn’t good for consumers, but there is a silver lining. With firms fighting tooth and nail over every insurance contract, we’re seeing plenty of online discounts and sign-up offers as insurers encourage customers to switch.
But insurance firms also want their existing customers to remain loyal by having all their different policies (car, home, contents life etc.) insured with them. As such they offer multi-policy discounts which can help customers save money on their total premiums whilst discouraging them from switching providers.
Every multi car insurance policy discount
Multi car insurance policies are offered by a number of Australian providers. Correct at the time of the last update (8 March 2018), here are all of the brands that offer multi-policy discounts from Canstar’s database, ranked in alphabetical order.
Budget Direct offers a range of discounts for existing insurance customers. By having a car insurance policy, you can enjoy discounts on other Budget Direct products, such as:
Small business insurance
Home & Contents Insurance: Up to 30% discount
Home Insurance: Up to 15% discount
Contents Insurance: Up to 15% discount
New comprehensive car insurance policy: Up to 15% discount
Life Insurance: Up to 15% discount
Travel insurance: Up to 15% discount
Budget Direct’s product snapshot below is based on a male driver in New South Wales aged 30-39, with no cover for an extra driver under 25.
Youi customers with Car Insurance can be eligible for a 20% discount on their Contents Insurance where the overnight address for the car matches the insured address of the contents insurance policy.
Youi’s product snapshot below is based on a male driver in New South Wales aged 30-39, with no cover for an extra driver under 25.
Top Car Insurance Policies by Star Rating
If you’re in the market for a car insurance policy, check out the table below which displays a snapshot of car insurance policies on Canstar’s database with links direct to providers’ websites.
Affordable term life insurance policy
Please note this table has been sorted by Star Rating (highest to lowest), and was formulated based on a male in NSW, without an extra driver under 25 years old. Each table below represents star ratings for different age bands:
Other multi-policy discounts
Keep in mind…
While discounts and bonuses sound great, don’t forget that a policy offering a multi-policy discount isn’t always better value than one that doesn’t offer one. You’ve got to take into account the quality of the coverage you’re getting for your money.