What's agreed value vs market value?

Agreed value: fixed amount agreed at policy start. Market value: insurer pays current market value at claim time. Agreed value costs more but provides certainty.

How can I reduce my premium?

Increase excess, pay annually, bundle policies, restrict named drivers, install a tracker, and maintain a no-claims bonus.

§ Tool · tier 1 · independent

Car Insurance Estimator.

Estimate car insurance costs and compare comprehensive, third-party, and CTP. Find the right cover type based on your car's value.

CalculatorFree, no signupOn-deviceupd May 2026

Inputs

Your numbers

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Move the sliders or type in the form on the left — the math updates live as you go. Click Get AI verdict when you want a written analysis.

Car insurance costs have risen 15-20% since 2022 due to rising repair costs and parts prices. Understanding your options — comprehensive, third-party fire & theft, or third-party property only — can save you hundreds while maintaining appropriate protection.

§ Worked examples

Real-world scenarios

New SUV, Family Car

2-year-old Toyota RAV4 worth $42,000. Driver: 38, clean history.

Recommended: comprehensive. Estimated premium: $1,200-$1,600/year. At $42,000 car value, a single accident could cost more than 5 years of premiums.

Older Commuter Car

12-year-old Mazda 3 worth $6,000. Driver: 28, 1 claim.

Comprehensive ($800-$1,200/year) is 13-20% of car value — not worth it. Recommended: third-party fire & theft ($300-$500/year).

§ FAQ

Questions Australians ask

§ Glossary

Plain-English definitions

Comprehensive Insurance

Full cover for your car plus damage to others' property.

No-Claim Bonus (NCB)

A discount for each claim-free year. Can reach 65% after 5+ years.

Excess

The amount you pay out of pocket when making a claim.

§ Pair it with

Related tools

Home & Contents Insurance

Bundle for multi-policy discounts.

Car Loan Calculator

Comprehensive insurance is usually required with a car loan.

How to use

01Enter your car's current market value.
02Select the car's age and your preferred cover type.
03Enter the primary driver's age and claims history.
04Choose your preferred excess level.
05See estimated premiums and cover recommendations.

Key info

Comprehensive: covers your car AND damage to others. Best for cars worth $10,000+.
Third-party fire & theft: covers damage to others + your car if stolen/fire. Good for $5,000-$15,000 cars.
Third-party property only: covers damage to other people's property. Cheapest for older cars.
CTP (Green Slip): covers injury to people. Mandatory and included in rego.

Pro tips

Comprehensive is worth it if your car's value exceeds 10x the annual premium.
Increase excess from $500 to $1,000 to save 15-25% on premiums.
Pay annually instead of monthly — monthly payments add 10-20% interest.
Bundle home + car insurance for multi-policy discounts.

Avoid these

Not insuring at all — one at-fault accident damaging a luxury car could cost $50,000+.
Over-insuring an old $3,000 car with $1,200/year comprehensive — use third-party.
Not updating the agreed/market value after depreciation.
Assuming CTP covers your car — CTP only covers injury to PEOPLE.

Disclaimer: Estimates only. Interest rates, fees and policies change frequently. Always verify with lenders directly. General information, not personal financial advice.

Last updated · May 2026