18th February 2020

What are my policy options?

There are different types of car insurance, and it's important to know what cover you get with each so you can decide which is best for you as a P-plater. When weighing up your choices, think about whether you could afford to repair or replace someone else's car or property if you were deemed to be at fault – think pricey cars or expensive infrastructure like power poles! What about your own car? Would you be able to get to work, study, or see friends and family without it?

Compulsory Third Party (CTP) insurance

  • CTP insurance only provides cover for compensation claims from people injured in a motor vehicle accident, it doesn't cover damage to your vehicle, other vehicles or property. It's mandatory for all Australian drivers and in some states is included in your car rego, so – depending on where you are – you may not need to stress too much about this one.
  • Bingle doesn't offer CTP as we're focused on offering great value car insurance. However, AAMI, GIO and Suncorp are part of the Suncorp Network, just like Bingle – and depending on your state, may be able to help you out with your CTP insurance.

Can I stay on my parents' car insurance policy or do I need my own?

  • It is up to their (your parents) preference. Some people choose to have the policy in the name of the person who owns the car (i.e. the parent/s) and then have the people who use the car (for example children who are on P plates) listed as drivers. So if you're driving your parents' car, you might be able to be listed as a driver on their policy. If it's your car, you could set up the policy in your own name.
  • If you're a parent and your child is going to be driving your car while they're on their P-plates, you may want add your child to your policy as a listed driver. This might increase your premiums, but could help you avoid an unlisted driver excess. Click here for more information on how to add listed drivers to your Bingle policy.

Is car insurance for P-platers more expensive?

  • Car insurance premiums for red and green P-platers are generally higher than those for more experienced drivers because of their age, driving experience, claims history or a combination of these things. Insurance premiums reflect the likelihood of drivers making a claim and the estimated cost of those claims, based on factors like age, car, location, any claims history of the drivers and data about the costs of other similar claims. So, because younger and less experienced drivers are statistically more likely to have accidents, insurers factor this into their pricing. The good news is that your car insurance premiums may decrease once you're in a less risky age group and gain more driving experience, assuming no other changes such as you don't make any car insurance claims or swap your car for example.
  • The other potential cost that young drivers should know about is the excess. Excess is the amount of money you pay to your insurance company if and when you lodge a claim. For example, for Bingle, the age excess amount for a driver under 25 years is $600 - you'll need to pay this in addition to the standard excess and any other excess that applies. Some insurers also have an Inexperienced Driver excess if you've only had your licence for a short period of time.
  • Driving on your own can be scary at the start, but it can help to know you're covered by the right type of car insurance for your needs. Find out more information about Bingle Car Insurance.
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