Car insurance in NSW
Compare everything from CTP to comprehensive cover, all in one place.
Key takeaways
- Compulsory third party (CTP) insurance is mandatory. You have to have this to drive your car legally. You can see pricing for this below.
- Comprehensive, third party fire & theft, and third party property damage car insurance is optional. You can compare these here.
- Costs for each of these insurances varies greatly so it always pays to compare your options. You can see sample pricing further below.
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Finder Score for car insurance
We analyse over 100 car insurance products and rate each one on price and features. What we get out the other end is a nice round number between 1 and 10 to help you start comparing.
To make sure we're comparing apples with apples, we collect quotes for 8 different personas, then work out the value of 19 different car insurance features. Our team then does some fancy maths to get the Finder Score, taking both price and features into account.
The cost of car insurance in NSW
CTP is available from 6 different car insurers in NSW. You think they'd all charge the same price but that's not the case so it's really worth comparing. Your quote depends on what model your car is and how you use it plus a few other factors. Compare quotes from all 6 of these providers using Greenslips4Earth — it's free to use and gives you a quick overview of where you can make savings.
The cost of other car insurance in NSW varies hugely depending on what level of cover you take out and who your provider is. To give you a guide, here's some averages.
Comprehensive car insurance costs an average of $1,698. To give you an idea of how prices vary, the cheapest quote was for $899 and the most expensive quote was for $3,565.
Third party fire & theft costs an average of $778. The cheapest quote was $549 and the most expensive was $1,264.
Third party property damage costs an average of $663. The cheapest quote was $459 and the most expensive quote was $1,031.
How much are Aussies spending on car insurance?
Every month, we ask a bunch of New South Wales residents what they're paying for car insurance. Here's what their bill looked like in September 2024.$149
Price based on 245+ responses about their monthly premium in September 2024.Here's a breakdown of what each type of insurance covers.
Comprehensive car insurance
This is the only level of car insurance that covers damage to your own car as well as other people's vehicles and property. Additionally, you'll be covered if your car is damaged by hail, fire or storm or if it's stolen or vandalised. It can also help pay for key replacements, a hire car if yours is stolen and more.
Third party, fire and theft car insurance
This level of car insurance covers costs if you damage someone else's vehicle or property and can pay to repair or replace your car if it's damaged by fire or stolen. However, it doesn't cover you for damage to your own car due to an accident, storm or flood.
Third party property car insurance
This level of car insurance only covers you for costs if you damage someone else's vehicle or property. It won't cover repair costs for your car.
Compulsory third party
Often called Green Slip insurance, compulsory third party car insurance is mandatory for every registered driver in Australia. In many states, it's included in your car registration. It helps cover compensation costs, such as hospital expenses, if you kill or injure someone in a car accident. It won't cover your car or someone else's car.
How to lower the cost of your car insurance premium
- Increase your excess. A higher excess means a cheaper premium. You'll just need to ensure you can pay your excess in the event you actually need to make a claim.
- Look for sign up discounts. Many providers offer a sign up discount for new customers. This can mean over $100 in savings.
- Get on the phone. Being willing to negotiate with your provider over the phone can save you lots of money. Simply asking the question; "Is there any flexibility on that price?" has saved me $200 before.
- Compare quotes. Get quotes from at least 3-5 providers so you know what price range you're working with. This will also help you negotiate more confidently because you'll know what else is out there.
- Do the maths. Check the difference in cost between paying annually and paying monthly. Some insurers will charge you extra to pay monthly and the fees can be huge. We've seen instances where this adds hundreds of dollars to a premium in the long run. Luckily, not all insurers charge this so just do the maths and be informed.
Our expert says
"Frustratingly, NSW drivers are stuck with particularly high premiums in comparison to other states in Australia. Luckily, there's plenty to do about this! The best thing you can do is equip yourself with knowledge; compare multiple insurers and be informed about what your options are. Doing this research will help you negotiate a cheaper price with your existing insurer or at least switch and save with another provider. I did this recently and saved around $200."
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