How are Bingle car insurance premiums calculated?

  • There are many factors that we use to calculate a car insurance premium – for example your age, car make and model and age, where you live (some suburbs are safer or riskier than others), any claims history of the drivers and info we have about the costs of other similar claims, as well as other factors. Other factors that contribute to the premium include the costs of providing and administering your policy, the cost of claims we pay under the insurance we provide, as well as government charges.
  • Your premium may also change based on whether you're using your car for your own personal use, for business, or for rideshare purposes (UberX etc).
  • If you choose to add an optional extra or extras (like Hire car, Windscreen and Glass cover, or New for Old for cars 3 years old or under) it will likely increase your premium.
  • Your level of cover also impacts your price – it may be higher or lower based on whether you choose Bingle's Comprehensive or Third Party Property Damage car insurance. Third Party Car Insurance is generally cheaper than Comprehensive, but it means you won't be covered for any damage to your own car if you have an accident.

Note: these are just some examples, not a full list, and the factors that may impact the cost of your insurance can vary over time.

Ways to reduce your car insurance premium

Increase your excess - if you like, you can increase your excess to lower your premium. This option is available for new Comprehensive Car policies from 5 June 2020 and renewing Comprehensive Car policies with an effective date of 2 July 2020.

How can I estimate the cost of my car insurance?

The best and fastest way to calculate the cost of your car insurance with us is to get a quote online.

Choose from our two car insurance options:

Two men sitting in the front
                    seat of their Bingle insured car Our highest protection

Comprehensive Car Insurance

Get Car Insurance to cover you for damage to your car, plus damage to other people's vehicles and property caused by your car and/or its related use.

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                    Bingle insured car

Third Party Car Insurance

Third Party Property Damage car insurance gives you liability cover for any damage your car and/or it's related use causes to other people's cars and property. Unlike Comprehensive car insurance, it doesn't offer any cover for your own car.

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FAQs

What's the difference between Comprehensive and Third Party Insurance?

Comprehensive Car Insurance covers you for accidental damage or loss of your car as well as damage to someone else's vehicle or property up to $20 million. Third Party Insurance covers you for any damage the use of your car causes to other people's property or car. You are not covered for any damage to your own car or for injuries to other people.

What is the difference between market value and agreed value?

Market value is the amount your car is worth on the buying/selling market at the time of sale. Agreed value is the price of your car that's been agreed on by you and your insurer, usually at the time of taking out or renewing your policy.

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