Top 10 Best & Biggest Car Insurance Companies in Australia (Updated)

Post By

Fahad M.

Reviewed By

Jo S., Faheem H., and Marc T.

Post By

Fahad M.

Reviewed By

Jo S., Faheem H., and Marc T.

You may already know the Top 10 Best and Biggest Car Insurance Companies in the World. Similarly, the car insurance market in Australia is very competitive, which can make it challenging for people to select the right policy. Most customers tend to choose policies based on price, but there are other factors to consider such as policy details, personal needs, and customer service. So, the World’s #1 Source of Research-Based Content, The Daily Top 10, let’s get an idea about the Top 10 Best and Biggest Car Insurance Companies in Australia.

Car insurance is a basic need for car owners in Australia because it provides financial protection in case of accidents, theft, or other unforeseen events that may cause damage to the vehicle or harm to people. As we mentioned in the Top 10 Best and Biggest Car Insurance Companies in Asia, car insurance is a type of coverage associated with the coverage of the costs of repairing or replacing the vehicle, medical expenses, and liability for any harm caused to individuals or their property as a result of a car accident.

So, it is important to select the right car insurance provider to protect your valuable investment. With an understanding of the importance of choosing a provider that offers the coverage you need for your specific situation, we compiled a list of the Top 10 Best and Biggest Car Insurance Companies in Australia. In addition to this, check out the Top 10 Best and Top Rated Electric Cars in the World for your additional knowledge.

What is the Best and Biggest Car Insurance Company in Australia?

As driving is one of the Top 10 Best and Highest Paying In-demand Jobs in Australia, the car insurance market is very competitive. It is overseen by the Australian Prudential Regulation Authority. They are responsible to ensure customer protection and fair practices. But, with numerous options available, selecting the right provider can be difficult.

This article aims to make the process easier by identifying the Best and Biggest Car Insurance Companies in Australia. So here we go starting from the tenth contender before we reach the Best and Biggest Car Insurance Company in Australia. But before that, go through the Top 10 Best and Most Popular Universities in Australia.

10

Stella

Stella is an Australian car insurance company that provides specialized policies for its customers’ unique needs. They focus on offering lower rates and discounts on child seats and personal safety products for female drivers. As LinkedIn – Wikipedia says, Stella also provides coverage for damages caused by uninsured or underinsured drivers and offers a “non-standard” policy for high-risk drivers.

Their commitment to personalized service and flexible policy options makes them a leading provider in the competitive Australian car insurance market. Most importantly, Stella is an insurance brand that has a clear mission to support women. It was created by women and is disrupting traditional insurance by offering more intuitive products and experiences that are tailored to women’s needs. So, a portion of their profits goes towards improving the lives of women.

9

RACV

As stated in Wikipedia, the RACV is a mutual organization and it stands for The Royal Automobile Club of Victoria. It provides different services to its members such as roadside assistance and insurance. It has a wealth of 30,000 regular club members and 2.1 million service members. In addition, there are two clubs available for members in Melbourne and Healesville, which were redeveloped in 2005 and 2009.

RACV offers a range of policy types, including comprehensive, third-party fire and theft, and third-party only, allowing customers to customize their coverage according to their needs and budget. It also includes extra benefits such as 24/7 roadside assistance and optional extras like a windscreen cover and rental car reimbursement. Their online platform is easy to use as it allows customers to manage their policy from anywhere with an internet connection.

8

Real Insurance

Real Insurance made history in September 2008 by introducing Pay As You Drive Car Insurance. And it was the first car insurance company in Australia, according to their Official Website. Real Insurance’s innovative trust-based model has gained the attention of the world and has set a standard for other insurance companies. Their concept is straightforward and is based on the belief that reduced driving leads to lower insurance expenses.

Amidst, Real Insurance offers a variety of policy options to suit different needs and budgets, including Comprehensive cover, Third-Party Property Damage cover, Third-Party Fire & Theft Cover, and more. They also offer customized packages and discounts for loyal customers and those with multiple policies. The claims process is also easy with their 24/7 online claim lodgment service accessible through their app or website.

7

RAC

RAC is a well-known and respected car insurance company in Australia, with a large customer base and a reputation for excellent service. They offer a range of insurance policies tailored to individual needs, including options for roadside assistance and personal injury protection. Their partnerships with reputable repairers and suppliers ensure a smooth claims process and high-quality standards.

RAC means Royal Automobile Club of Western Australia. As MOZO denotes, RAC car insurance has scored two Mozo experts’ choice car insurance Awards for its comprehensive coverage such as Exceptional value car insurance and Exceptional quality car insurance. To be highlighted, there are a set of companies affiliated with RAC, such as RAC Insurance Pty Ltd, as well as non-RAC businesses.

6

Bingle

Bingle car insurance provides extensive coverage for various car-related incidents, such as accidents and harsh weather conditions. Additionally, they offer assistance in arranging a tow truck or accommodation in case of an accident. The company can even expedite the process of repairing your car and it is recommended to thoroughly review the specifics of the coverage.

Most importantly, it is an online-only insurance provider as the signup and claims processes are all digital. So, you’ll need to be an internet-savvy driver with this policy. As its Official Website shows, Bingle won the Canstar award in 2017,2018,2020, and 2021. It is not only because of their great value offerings but also for their convenient, efficient online service.

5

NRMA

NRMA is an insurance company in Australia known as the National Roads and Motorists’ Association, and it is a part of the Insurance Australian Group. According to our research, it has a presence in Australia, New Zealand, and the United Kingdom. This Group is a diverse insurance company operating in multiple countries and owns well-known insurance brands like Swann Insurance, SGIC, SGIO, and CGU.

Their primary concentration is on car insurance, where they offer CTP, third-party property insurance, and comprehensive policies. The comprehensive policies come in two options: Comprehensive and Comprehensive Plus, with the latter providing extra features. Most importantly, NRMA has won multiple awards in 2021, including Quality Insurance Provider of the Year and a People’s Choice Award, as stated in MOZO. Additionally, according to Mynrma, NRMA is the winner of Canstar’s Most Satisfied Customers – Roadside Assistance Award 2022.

4

AAMI

AAMI stands for Australian Associated Motor Insurers Limited. It is a general insurance provider that has been serving Australians since 1969. The most important fact to denote about it is that the company offers a range of insurance options, including home, CTP, health, business, and income insurance. In addition, it is one of the biggest car insurance companies in the country.

AAMI values providing customers with options and strive to meet their expectations for insurance. As stated in Forbes, they have a significant customer base of 2.5 million policyholders across their various offerings as of 2023. Moreover, AAMI’s Comprehensive Car Insurance has only received 1567 reviews on Product Review, despite having many customers.

3

CGU

CGU is a reputable insurance company that provides a range of insurance options and coverages. They have helped many Australians during challenging situations and have received various awards. They were named the 2015 Large General Insurance Company of the Year, the 2015 NIBA General Insurer of the Year, and the 2015 Insurance Business Magazine’s Insurer of the Year, as their Official Website says.

Most importantly, CGU is backed by IAG, which is Australia and New Zealand’s biggest general insurer and has a growing presence in Asia. Additionally, it handles approximately 350,000 claims per year, which is equivalent to almost 1,000 claims daily. This translates to providing approximately $1.6 billion in assistance to our valued customers annually, and they take great pride in their 160-year legacy of providing support to customers.

2

GIO

GIO, a general insurance company based in Brisbane, offers different car insurance options to suit the needs and budgets of Australian drivers. These options include Comprehensive, Platinum, Third Party Fire, and Third Party Property Damage. Additionally, GIO has been providing workers’ compensation insurance to over 70,000 Australian employers for more than 85 years, as stated in Linkedin.

It offers a comprehensive insurance plan that covers accidental loss or damage, malicious damage or vandalism, legal liability up to $20,000, towing and storage costs, and rental car expenses for incidents where the policyholder is not at fault. They also offer the option for policyholders to choose their repairer and provide 12 months of free roadside assistance. In addition to this high customer satisfaction, GIO has won awards for excellent claims processing, sign-up experience, and being a highly trusted company.

1

Allianz

Allianz is a company with strong financial stability and it is regarded as the largest insurance company in the world. Allianz was established in Berlin in 1890 and started operating in the United States in 1896. It is now a leading global financial services company present in 70 countries and has a workforce of 147,000 employees with over 100 million customers across the world. Therefore, undoubtedly Alliance can be identified as the Best and Biggest Car Insurance Company in Australia.

Most importantly, it is a financially stable insurance provider with a strong reputation and a large market capitalization of $77.1 billion. They have a long history and offer in-force insurance, making them a reliable choice for customers. As Trusted Choice stated, they have received an “A+” rating from AM Best, indicating their superior performance and trustworthiness.

What are the Best and Biggest Car Insurance Companies in Australia?

After conducting extensive research on car insurance providers in Australia, it is evident that several trustworthy companies provide comprehensive insurance coverage and dependable customer service. Similar to the Top 10 Best and Biggest Car Insurance Companies in the USA Post, there are many companies among the top choices, each with its advantages and disadvantages. Among them, we have compiled a comprehensive list of car insurance companies for you to explore.

Here are the Top 10 Best and Biggest Car Insurance Companies in Australia:

Allianz
GIO
CGU
AAMI
NRMA
Bingle
RAC
Real Insurance
RACV
Stella

However, the decision of selecting the best car insurance depends on personal preferences based on budget restrictions and individual requirements. That sums up our Top 10 Best and Biggest Car Insurance Companies in Australia post and if you need to know more about Australia, check out our Australia Category for the Top 10 Best Places for First-time Travellers to Visit in Australia, Top 10 Oldest and Most Popular Restaurants in Australia and the Top 10 Best Scholarships in Australia for International Students.

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Author: Fahad M.

Fahad M. is approachable and energetic about resolving SEO and content-related issues. He is customer-focused and always has the big picture in mind. He is also extremely creative and eager to assist wherever and whenever possible.