GUIDES & RESOURCES

Car Insurance Queensland

So you live in Queensland and you own a car? The Sunshine State is your oyster. But before you jump in your vehicle, put the windows down and zoom off to somewhere sunny, you might want to double check you’ve got suitable car insurance.
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What kinds of car insurance is available in QLD?

Well for starters, you need to have Compulsory Third-party Insurance (CTP). It’s  against the law to drive without some form of CTP insurance. But other than that, it’s up to you whether or not you want additional insurance. Here’s a quick rundown of the different types of car insurance policies:

  • Compulsory Third-party Insurance: is a must-have for all drivers in the Sunshine State. It’s actually compulsory across all states to some degree (for good reason). CTP helps drivers from being held financially responsible if they injure someone in an accident. This includes passengers, pedestrians and other drivers. If you were injured as a result of another driver’s actions, you may also claim under CTP insurance to access medical treatment and compensation.
  • Comprehensive Cover: can help with the cost of repairs or even the replacement of your car and property whether you’re at fault or not. It might also help cover the cost of emergency repairs, transportation and damage caused by other drivers.
  • Third-Party Property Cover: can help cover any damage that you may have caused to another person’s much loved vehicle or property. It usually includes legal costs, claims service and limited damage by uninsured drivers. But it doesn’t cover the cost of damage to your own car.
  • Third-Party Fire & Theft: helps provide cover for the loss or damage of your car if it’s stolen or catches on fire. As well as your liability for damage caused by your car to another person’s property.

This table breaks down typical inclusions in each policy:

Insurance Type Injuries to other people Damage to other people's car or property Damage caused by fire or theft Accidental damage to your own car

CTP

Yes

No

No

No

Third-Party Property Damage

No

Yes

No

No

Third-Party Fire and Theft

No 

Yes

Yes

No

Comprehensive

No

Yes

Yes

Yes

What’s driving like in Queensland?

Queensland roads have a bit of everything when it comes to driving, from dense city centres to remote outback roads. In Winter in particular, police officers see the population skyrocket with tourists traveling through some of Queensland’s most remote areas1. With more than 5.3 million registered cars on the road, they also unfortunately see a number of accidents2:

  • In 2018 - 2019 Queensland had the most fatalities Australia-wide3
  • The leading cause of car accidents in Queensland in 2019 was from drivers disobeying road rules3

You might think you’d never be involved in an accident, but the truth is it could happen to anyone. That’s why it’s so important to consider your options when it comes to car insurance.

What are the major characteristics of the Queensland road toll?

Here’s a list of the major characteristics that lead to crashes in 20183:

  • 6% involved drivers/ riders who disobeyed road rules
  • 2% were drug/ alcohol related crashes
  • 2% involved senior adult drivers/ riders
  • 9% involved young adult drivers/ riders
  • 6% involved heavy freight vehicles
  • 4% involved speeding drivers/ riders

This shows us how beneficial car insurance can be for all drivers, whether you’re young or old and you drive a car, truck or motorbike.

* Note: major characteristics of fatalities within Queensland have been defined as characteristics representing at least 20% of all fatalities during 2018.

How much does car insurance cost in Queensland?

First up, it depends on what type of car insurance you’re looking at:

CTP Insurance

The price for CTP insurance in Queensland is regulated by the Motor Accident Insurance Commission. And because everyone has to have it, it’s typically affordable for most people. Phew. In saying that, the cost might differ slightly depending on the type of car you own and how you use it. If you’re going to use your car for Uber Eats, for example, the cost might go up.  Your insurer might also offer ‘optional at-fault’ cover. This costs extra if you decide to add it on. The average cost of a CTP insurance claim is around $100,0004. Some claims can even end up in the millions. So compared to that, the cost of CTP insurance seems like a pretty good deal!

Other Types of Car Insurance

When it comes to the other types of car insurance (Comprehensive,  Third-Party Property, Third-Party Fire and Theft), the cost can depend on a number of factors, including:

  • Your age: premiums are typically higher for drivers under 25.
  • Your car: some models will cost more to insure.
  • Your insurance history: if you’ve made claims in the past this could bump up the price.
  • Your insurance excess: the lower your excess, the higher your premiums are likely to be.
  • Your driving history: if you’ve lost demerits points or your license, this also might impact the cost of your premiums.

According to iSelect car insurance data for Queensland, the below are the average comprehensive premiums for FY19, and FY20:

  Female Male

Age group

FY19

FY20

FY19

FY20

18 - 24

$818

$832

$896

$918

25 - 29

$691

$749

$729

$765

30 - 44

$610

$648

$643

$681

45+

$524

$541

$538

$560

How do I get great value out of my car insurance policy?

Everyone wants a good deal when it comes to our car insurance, but it’s also important (or if not more important) to make sure you’re paying for an appropriate policy. Here are some tips to help you get good value from your car insurance: 

  • Don't just renew, review: review your policy at renewal time and find out what competitors are offering. You might be surprised at what you could save.
  • Get the discount you deserve: your safe driver rating should move with you even if you change Insurer or policy type, so shop around for discounts.
  • Read everything: check your coverage in detail either via reading it or speaking to to a product specialist to avoid any surprises at claim time. For example, does your policy pay for a hire car while yours is at the shop? Are there different excesses for different drivers? Are you covered for market or agreed value?
  • Go for value over price: price isn't everything. Make sure your policy has got you covered – just in case.

We know reviewing different car insurance policies probably isn't your idea of fun, so why not get us to do it for you? Seriously. Just call us on 13 19 20 and we can compare a range of different Comprehensive Car insurance policies and providers for you and your vehicle from our range of policies and providers.

How do I compare car insurance policies?

Easy! You can do it through us online here or over the phone. Just call 13 19 20 and one of our consultants will help you compare a range of different policies and providers. Remember you don’t just want it cheap when it comes to your car insurance. You should look into what the cover includes and try and sleuth-out any incentives or add-ons that might make you sway to a certain provider. Buckle up with iSelect and we’ll help you compare from our range of different providers and policies.

Sources:
1. https://qldtraffic.qld.gov.au/more/Driving-in-Queensland/index.html
2. https://www.tmr.qld.gov.au/Safety/Transport-and-road-statistics/Registration-statistics
3. https://www.qld.gov.au/transport/safety/road-safety/statistics
4. https://maic.qld.gov.au/for-drivers/about-ctp-insurance/

Last updated: 11/12/2020

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