How much do you pay when it comes to car insurance? RateCity investigates the price difference of comprehensive car insurance between Perth and Adelaide and how you can save more than half of the cost of your premium.
July 20, 2010
Owning a car can be a costly luxury. Between the regular services, petrol, registration and insurance, the bills can be never-ending and it all adds up. But did you know there is a way to cut the cost of your car insurance and potentially save more each year?
RateCity recently conducted a study that compared the differences in price of comprehensive car insurance premiums between Adelaide and Perth. The study used the same driver profile from around 26 car insurance providers, using four different suburbs in Perth (Victoria Park, Scarborough, Mandurah and Nollamara) and four different suburbs in Adelaide (Elizabeth, Unley, Norwood and Sturt).
Which city pays more?
The study showed that Perth drivers pay on average $674 for comprehensive car insurance, compared to Adelaide drivers who pay about $660 on average.
Damian Smith, RateCity's CEO said he was surprised to see the dramatic differences in price between some car insurance providers for the same suburbs.
"We expected there to be differences in pricing between the two cities," Smith said, "because car insurance quotes are based on many external factors including geographical location and driver statistics such as the number of accidents in areas. However what surprised us the most was the sizeable differences in price between car insurance providers in each of the four suburbs."
In Perth, the greatest difference between the cheapest and most expensive prices quoted for the same suburb was $636 in Victoria Park and around $708 difference in Norwood, Adelaide.
The most expensive price quoted in Perth was $1091 by AON for Victoria Park, compared to $1056 also by AON in Unley and Norwood, Adelaide.
Who pays less?
The cheapest premium for both states was from one of the newest online car insurance companies, Bingle, which is underwritten by AAMI. In Perth the cheapest price quoted was $381 compared to $347 in Adelaide.
Smaller companies such as Bingle, Budget Direct and Youi were regularly amongst the most competitive options for both cities.
Not only Adelaide and Perth drivers, but drivers Australia-wide could save by shopping around for car insurance online.
If you are due to renew your policy or just want to see what savings are possible, compare car insurance quotes online and start saving today. Don't be put off by smaller companies including online-based providers and new players in the market as you may be pleasantly surprised with what they can offer.