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10 Cheapest Car Insurance Melbourne Has To Offer [2024]

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Cheapest Car Insurance Melbourne

Cheapest Car Insurance Melbourne

If you’ve ever been in a vehicle accident, you know how exhausting and time-consuming the aftermath can be. You won’t have to deal with other drivers or property owners involved in the collision if you have the necessary coverage. You are also relieved of the burden of handling the costs of replacing or repairing your car. A good vehicle insurance policy can assist you in dealing with many of these concerns. This is why you should be aware of the cheapest car insurance Melbourne has to offer.

1. Koba Insurance

Key ServicesVariable pay-per-km pricing with in-car monitoring, new car replacement (under 2 years old and 40,000km driven), $500 emergency repairs
AddressLevel 14, 839 Collins Street, Docklands Melbourne, VIC, Australia 3008
Phone+61 3 6159 2000
Operating Hours9AM – 5PM Mondays – Fridays

Eric Insurance, a major Australian general insurer with over 20 years of expertise, proudly underwrites KOBA. KOBA, a member of both Insurtech Australia and Fintech Australia, empowers you with real-time, data-driven comprehensive vehicle insurance, so you only pay for what you use. The less you drive, the more money you will save. It’s straightforward, clear, and equitable. They are a driven start-up that is turning vehicle insurance on its head. To categorize drivers, many insurance firms employ aggregated data models. This means that low-risk drivers must pay higher, more expensive premiums to compensate for high-risk drivers. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Pay As You Drive- The less you drive, the more you save
  • Personalized Pricing- They don’t use aggregated data models
  • Real-Time Data Usage- Get comprehensive coverage in real-time

Customer Testimonial:

“I never imagined getting so much profits within a short period of time , it happened surprisingly I got it , this is huge for me and super happy and excited for this win”

Olumuyiwa Olusesi

2. Shannons Insurance

Key ServicesUp to 65% no claims discount, Hire car after theft and not-at-fault accidents, Excess-free windscreen repair (one claim per policy period)
AddressLevel 23, 80 Ann Street, Brisbane Queensland 4000
Phone+61 134646
Operating Hours8AM – 9PM Daily

Shannons Insurance is Australia’s premier driving insurance company, and Shannons Auctions is Australia’s leading auction house for veteran, vintage, classic, sports, and customized automobiles, as well as classic motorbikes, motoring memorabilia, and numerical number plates. Shannons insurance products are specifically designed to meet the demands of automotive enthusiasts, with features like as limited use and club plate protection, laid up cover for restorations, insurance for daily drives, and house and possessions cover. So every car lover now has even more reasons to support Shannons. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Limited use and club plate protection
  • Laid up cover for restorations
  • Insurance for daily drives
  • House and possessions cover

Customer Testimonial:

“Always had great phone experience with Shannons but made an online claim after minor collision when somebody rubbed past my car moving into a turn lane. Process very easy and immediately assessed as not using my excess.”

Andy T.

3. GIO Comprehensive Insurance

Key Services10% discount of you purchase a comprehensive policy online, Hire car after a no fault accident (for unlimited days), New-for-old car replacement (under 2 years old)
AddressLevel 23, 80 Ann Street, Brisbane QLD 4000
Operating Hours8AM – 7PM Daily

With their reliable insurance products, GIO has helped generations of consumers feel better secured as they manage the uncertainties of life since 1927. Their network combines financial services and products from companies such as GIO, Suncorp, AAMI, APIA, and Shannons in one location, which means more exceptional service and value for you. Access to Suncorp banking solutions, for example, can help you stay on top of your finances. You may also gain access to industry experts through workshops and seminars, which can assist you with everything from investments to company growth. You can also make simple online claims. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Generations of experience
  • One stop for all your needs
  • Online claims

Customer Testimonial:

“Stunningly simple procedure compared with others in my research. I didn’t think it could be this simple.”


4. ROLLiN’ Insurance

Key ServicesMonthly premiums available at no extra cost, $0 excess for windscreen cover, Simplified excess
Phone1300 116 257

They provide a single comprehensive automobile coverage designed specifically for their consumers. That’s all. They provide a monthly policy that you may modify at any moment. Because they are a digital business, they keep their costs low, which allows us to keep their rates low. Other insurers may demand an additional $2500 excess simply because you are a young driver. They are not. If your automobile is being repaired due to a covered occurrence, they can assist with whatever alternative transportation you can think of up to $80 per day for up to 21 days. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Single comprehensive automobile coverage
  • Low costs
  • No additional excess for young drivers

Customer Testimonial:

“Easy to sign up, and so far the cheapest after comparing to multiple insurers”

Donovan Ho

5. Virgin Money

Key Services15% buy online discount (for the first year’s premium), Up to 15% no claims discount, Automatic hire car cover after theft or not-at-fault accident
Phone1800 887 707
Operating Hours8AM – 10:30PM Mondays – Fridays; 8AM – 5PM Saturdays

Virgin Money understands that everyone, and every automobile, is unique in their own way. As a result, their extensive coverage protects you and your vehicle against life’s speed bumps. Third Party Property Insurance covers you for damage to other people’s property caused by your automobile, as well as limited insurance for the car if it is damaged in a no-fault collision with an uninsured vehicle. Your automobile is also protected if it is stolen or burns down with Third Party Fire & Theft Insurance. Protect your vehicle in your own unique style. – by personalizing the cover. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Extensive coverage
  • Third Party Property Insurance
  • Third Party Fire & Theft Insurance
  • Customizable cover

Customer Testimonial:

“Great insurance company. No complaints. No long customer service lines”


6. Youi Car Insurance

Key ServicesEmergency roadside assistance included, New-for-old-car replacement (within 2 years), $1,000 emergency repairs and accommodation
Address2 Smart Drive, Sippy Downs, Queensland
Phone+61 7 3719 4800
Operating Hours5AM – 8:30PM Mondays – Fridays; 5AM – 6:30PM Saturdays

Youi understands that auto insurance can be unpleasant at times. As a result, they’ve simplified things for you, giving you the peace of mind you deserve. They are committed to making it simple for you to maintain your policy, contact us, or combine coverage with their specials and savings. They think that every claim, from catastrophic disasters to minor mishaps, deserves the same amount of care and assistance. You may be certain that they will go above and above to expedite your claim. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Simplified process
  • Committed to customer service
  • Specials and savings

Customer Testimonial:

“Since joining Youi it’s been a fantastic insurance company. Especially when it comes to renewals. A shout out to Grace in particular – sensational sales rep on the phone. Very professional and had the answers to all my questions, and saved me nearly 300 on my new policy for 2022. One very happy customer here.”

Luke Hulands

7. Woolworths Insurance

Key ServicesDrive Less, Pay Less policy option, 15% buy-online discount, New-for-old cover (under 2 years)
Phone 1300 10 1234
Operating Hours8AM – 8PM Mondays – Fridays; 9AM – 5PM Saturdays – Sundays

Woolworths Car Insurance offers excellent value for money, with a variety of protection choices for you and your vehicle. Get an online quotation today to discover how much you may save. They will match any existing equivalent Comprehensive renewal notification if you are 25 or older. When you buy your policy online, you can save up to 15% on it. Drive Less Pay Less may save eligible drivers up to $235. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Value for money
  • Comprehensive coverage
  • Discounts for online purchases

Customer Testimonial:

“I have always been a customer of Woolworths and then when I decided to buy a car, I found that they have good competitive deals, which impressed me. I like their customer service.”


8. Huddle Car Insurance

Key ServicesPay-per-km policy option, New-for-old car replacement (under 2 years old), 24/7 online claims lodgement
Phone1800 931 678

They’ve been huddling together since the dawn of time, sharing the cost when things go wrong. But then things became tricky. Jargon, fine print, and a lot of phone time Fortunately, Huddle has altered that. They’ve created insurance that’s straightforward and easy to comprehend, backed up with ingenious technology that makes it even more powerful. And they never lost sight of the essential idea: they are better off together. In 2016, they began offering insurance in Australia. They’ve learned a lot in those six years, allowing them to further enhance their services. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Straightforward insurance
  • Innovative technology
  • Customer-centric

Customer Testimonial:

“I found it very easy to re-insure my comprehensive car policy with Huddle. It was a simple affair and I will re-insure my car net year with Huddle”

Juanita Christian

9. Budget Direct

Key Services15% buy-online discount, New-for-old replacement (see conditions below), Not-at-fault rental car cover
AddressBrisbane, QLD, Australia
Phone+61 7 3465 1755

Budget Direct has solved insurance problems for over 3 million Australians since 2000. They are challenging the market dominance of older, more established insurers in Australia by providing solid protection at an unbeatable price. Because of their dedication to quality and innovation, you can obtain the cover you want at a price you can afford, with all of the features you’d expect – and a lot more. They employ over 1,300 individuals and have partnerships with hundreds of vehicle repairers and building builders around the country. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Dedication to quality
  • Affordable prices
  • Extensive coverage

Customer Testimonial:

“Process was easy to navigate and the price was competitive to others companies. Very happy with the insurance policy.”


10. Stella Insurance

Key ServicesCover for $2,000 in baby equipment, Domestic violence damages cover, No-claim excess reward up to $300
AddressLevel 15, 50 Pitt Street Sydney, NSW, Australia 2000
Phone1300 633 811
Operating Hours9AM – 5:30PM Mondays – Fridays

Stella Insurance is a female-first, mission-driven company founded by women for women. They are aiming to balance the gender bias in not only insurance, but life in general, by creating a community through their platforms to educate, encourage, and empower females. Stella collaborates with like-minded individuals and organizations to effect tangible and progressive change for Australian women. They were tired of seeing insurers and insurance products that did not speak to women in any way. That is why Stella was founded, because women deserve better. As a result, they offer one of the top cheapest car insurance Melbourne has to offer.

Key Differentiators:

  • Female-first
  • Mission-driven
  • Community-focused

Customer Testimonial:

“My previous car insurance company required plenty of jumping through hoops, including uploading extensive photos of my car. In contrast, reinsuring with Stella was a breeze! It was quick, affordable and efficient.”

Alistair McLellan

Cheapest Car Insurance Melbourne

Overall, the advantages of automobile insurance much outweigh the dangers, as you might wind up paying thousands of dollars out of pocket for an accident that you caused. Examine your insurance carefully to see what sort of coverage you have, and consider adding additional policies if necessary. More coverage is typically preferable to little coverage. We hope this information assists you in locating the cheapest car insurance Melbourne has to offer.

If you’re looking for more recommendations, you can check out our other posts below:

Rachel Tan - FunEmpire

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Rachel Tan is the editor at FunEmpire Media Australia. She has over 8 years of experience in the media industry discovering the best local businesses, places and things to do in Australia. From lifestyle, entertainment, food, travel, education and more, Rachel is a trusted source to curate the very best Australia has to offer.