When it comes time to renew your car insurance policy, do you stick with your current provider, or shop around for a better deal? While it’s easy to just renew your policy each year, you could be missing out on a better deal.
The insurance market isn’t static. Policy costs are always moving (usually upwards) and insurers are always tweaking their policies, offering different perks and levels of cover. This is why Canstar’s expert panel conducts annual research into the best products in the market, awarding the best each year our Outstanding Value Car Insurance Awards.
So if you’re one of the 76% of car insurance customers who, according to Canstar’s research, doesn’t bother looking for a better car insurance deal when it comes time to renew, let Canstar take the hard work out of finding the best policy for you.
This year, our expert panel of analysts researched 11 different insurance providers and policies, across six consumer profiles:
- Under 25: female driver
- Under 25: male driver
- 25-29 driver
- 30-49 driver
- Family with young driver
- 50+ driver
Using a sophisticated and unique ratings methodology that compares both price and features across Comprehensive car insurance products, our team has drawn up a shortlist of top products and providers.
This enables consumers to narrow their search to just the best products that have been assessed and awarded Canstar’s Outstanding Value Car Insurance Awards.
From the results of this year’s research, three car insurance providers have earned our top Outstanding Value Awards:
STATE
This year, State wins not only an Outstanding Value Award, but also takes home our accolade Car Insurer of the Year.
Awarding State its top gong, our research team noted that over the past 12 months the broader car insurance market saw premiums increase, on average, around 14%. However, over the same period, the cost of State’s comprehensive car insurance policy remained stable.
In addition to State’s competitive prices across all driver profiles, its great comprehensive policy features and strong customer satisfaction score helped it earn our Insurer of the Year Award.
State’s Outstanding Value Ratings:
- Under-25 Female Driver – 4 Stars
- Under-25 Male Driver – 4 Stars
- 25-29 Driver – 4 Stars
- 30-49 Driver – 5 Stars
- 50+ Driver – 5 Stars
- Family with Young Driver – 4 Stars
What State offers:
State has a choice of three levels of car insurance – full cover, third party fire & theft, and third party – plus optional add-ons, such as roadside assistance, windscreen and glass excess buyout, and car hire. State also offers benefits to its customers such online sign-up and multi-policy discounts.
What’s covered by State’s Full Cover policy?
State’s Full Cover comprehensive car insurance policy is designed to give full cover for collision, fire & theft. It also provides you with legal liability, should you damage someone else’s property.
Some of the key benefits are:
- Accidental loss or damage to your car, including by flood or storm
- Protection against uninsured drivers
- Repairs carried out by any repair service nationwide
- Guarantee on all repairs by our approved repairer network
- Up to $300 to replace your keys and locks
- Legal liability protection up to $20m for damage and injury you cause
- Transport and towing expenses
Optional extras include: roadside rescue, no-excess windscreen and glass cover, car hire.
Click here for Insurer of the Year Award
AA Insurance
In addition to its Outstanding Value Award, this year AA is also the winner of our inaugural Most Satisfied Customers | Car Insurance Claims Award 2024, which is based on feedback from 861 car insurance customers about how they rate their car insurance providers in relation to the claims process.
In our Outstanding Value Award rankings, AA receives a great set of ratings across all six profiles:
AA’s Outstanding Value Ratings:
- Under-25 Female Driver – 5 Stars
- Under-25 Male Driver – 4 Stars
- 25-29 Driver – 5 Stars
- 30-49 Driver – 4 Stars
- 50+ Driver – 4 Stars
- Family with Young Driver – 4 Stars
What AA Insurance offers?
AA Insurance offers customers a choice of three insurance policies: comprehensive, third party fire & theft, and third party only.
All policies offer a lifetime repair guarantee, one-event-one-excess cover and multi-policy discounts if you have two or more policies.
What’s covered by AA’s comprehensive car insurance policy?
AA’s comprehensive car insurance policy is designed to give full cover for collision, fire & theft. It also provides you with legal liability, should you damage someone else’s property.
Some of the key benefits are:
- Insurance up to an agreed value
- Cover for damage to your own car and other people’s property (up to $20m for legal liability)
- Towing, storage and transport costs in the event of an accident
- Road clearing and emergency costs
- Excess-free replacement of keys and locks up to $1000 if your keys are stolen
The policy also offers two optional benefits, excess-free glass cover and rental cover, which can be added for an additional cost.
FMG
This is the third year in a row that FMG has won an Outstanding Value Award, as FMG continues to offer eligible customers a high level of cover at competitive prices.
FMG is also the winner of Canstar’s Most Satisfied Customers | Car Insurance Award 2024.
In our ratings, FMG is a standout performer, receiving a top score in five out of six profiles due to its consistently low premiums.
FMG’s Outstanding Value Ratings:
- Under 25-Female Driver – 5 Stars
- Under 25-Male Driver – 5 Stars
- 25-29 Driver – 5 Stars
- 30-49 Driver – 5 Stars
- 50+ Driver – 4 Stars
- Family with Young Driver – 5 Stars
What FMG Offers:
FMG offers customers two insurance plans: comprehensive insurance (FMG superior private vehicles policy), and third party, fire & theft insurance (FMG essential private vehicles policy).
What’s covered by FMG’s Superior private vehicles policy?
FMG’s Superior comprehensive car insurance policy is designed to give full cover for collision, fire & theft. It also provides you with legal liability, should you damage someone else’s property.
Some of the key benefits are:
- Accidental loss or damage to your car, fire and theft
- Legal liability for you and approved drivers up to $10m
- Excess-free cover if you are not at fault
- Excess-free glass cover
- Excess-free replacement of locks and keys if lost or stolen
- Misfuelling (accidentally using the incorrect fuel in your vehicle)
Optional hire car cover available: up to $100 a day for 30 days from claim.
Click here for more on our Outstanding Value Car Insurance Ratings
About the author of this page
This report was written by Canstar’s Editor, Bruce Pitchers. Bruce has three decades’ experience as a journalist and has worked for major media companies in the UK and Australasia, including ACP, Bauer Media Group, Fairfax, Pacific Magazines, News Corp and TVNZ. Prior to Canstar, he worked as a freelancer, including for The Australian Financial Review, the NZ Financial Markets Authority, and for real estate companies on both sides of the Tasman.
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