1 Answers
SkyLark
Updated:06/09/2024
The average cost of car insurance in Australia varies significantly based on a range of factors.
Factors Affecting Car Insurance Rates
- Age and Gender
- Driving History
- Type of Vehicle
- Location
- Coverage Level
- Claims History
Average Costs Breakdown
| Type of Insurance | Average Cost (AUD) |
|---|---|
| Third Party Property Damage | $500 – $750 |
| Third Party Fire and Theft | $700 – $1,000 |
| Comprehensive | $1,200 – $1,800 |
Key Statistics
According to recent studies:
- Young drivers (ages 18-24) typically pay the highest premiums.
- Comprehensive insurance is preferred by more than 60% of Australian drivers.
- Insurers consider the vehicle’s make and model, with luxury cars costing more to insure.
- Urban drivers tend to pay higher rates compared to those in rural areas.
Average Cost by Age and Gender
| Age Group | Male Average Cost (AUD) | Female Average Cost (AUD) |
|---|---|---|
| 18-24 | $2,500 | $2,000 |
| 25-39 | $1,500 | $1,200 |
| 40-64 | $1,000 | $900 |
| 65+ | $1,200 | $1,000 |
Mind Map of Car Insurance Costs
- Car Insurance Costs
- Factors
- Age & Gender
- Driving Record
- Location
- Vehicle Type
- Types of Insurance
- Third Party
- Comprehensive
- Average Costs
- By Age Group
- By Vehicle Type
- Factors
In Summary
The average cost of car insurance in Australia can vary widely, ranging from $500 for basic coverage to over $2,500 for young drivers or high-risk individuals. It is influenced by multiple factors including age, gender, and vehicle type.
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