Car Insurance Compare Australia Government

Car Insurance Compare Australia Government – If you’re looking to buy your next car, read our report and find out the true cost of car ownership in 2021

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Car Insurance Compare Australia Government

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Australia is a big southern country and to get anywhere you need a car. According to the Australian Bureau of Statistics, there are actually 20.1 million registered vehicles on the road, suggesting that a very large proportion of adults of driving age are car owners.

While there’s no denying that owning a car is not only convenient but also the primary means of getting around, Australians often complain that their cars are “money sinks” – in terms of insurance, registration, repairs, maintenance and other seemingly trivial costs. growth. top: fuel.

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However, ideas do not have to be reality. With that in mind, how much does it cost to own a car in Australia?

As mentioned, there are 20.1 million registered vehicles on the road. The average age of these vehicles is 10.6 years, as of 2020. 71.7% of all vehicles use gasoline; followed by 26.4% diesel and 1.8% “other”, electric or hybrid vehicles.

A 2016 car ownership analysis by ID Community Demographics found that 51% of Australian households had access to two or more cars.

That dreaded week comes to all drivers: “rego” week. When drivers part with large sums of money just to keep their car (or many cars) on the road. Each state is different, and some states waive compulsory third party insurance, such as New South Wales.

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Depending on the country or region, CTP is included in the registration fee or paid separately. For example, in NSW, the CTP or ‘green slip’ is different.  In Queensland, the CTP is also separate but will appear as a detailed entry in your registration offer. The ACT includes the same coverage – motorcycle accident insurance – in the registration fee. In Tasmania and the Northern Territory, SA and WA, CTP is included in the total, although some offer a range of providers while others do not. 

Tasmania’s registration system is very complex: registration fees are determined by the number of cylinders in the car. Western Australian rego is determined by curb weight, while NT rego charges depend on the number of cylinders AND the size of the engine, measured in cubic centimeters.

In Victoria, registration fees vary by suburb. There are three categories, with different costs: Metropolitan ($845.90), Metropolitan ($790.90), and Rural ($726). The stated reason for this difference is the degree of danger, from high to low, respectively.  

In NSW, WA and Tasmania, drivers have the option to choose their third party compulsory insurance company through the open market. This is commonly known as a “green slip”. In Victoria, CTP is regulated and regulated through a statutory government agency, the Transport Accident Commission. This does not mean that the car is “insured” against fire, theft and damage to others or itself – this is similar to liability insurance.

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Compare this to the US states of Utah, New Jersey, Michigan, Idaho and Colorado: where registration costs zero: $0. The next best scenario? Arkansas, which costs only $8 a year.

Tate Motor Vehicle Registrar – December 2021 listed estimates for 2020 4-cylinder petrol sedan priced at $30,000 *CTP estimate of available insurance quotes. 

Notes on this chart: All the first green CTPs are quoted by Allianz, who offer the highest price compared to all other insurers. Victoria’s registration fee depends on the registration area: Metro (most expensive), Outer Metro or Rural (cheapest). All calculations are done annually.

License renewal fees also vary from state to state – some states offer “good driver” renewals where the license fee is waived for good conduct (WA). It may also differ whether the license needs to be renewed at a Roads Authority center (for a new photo to be taken) or online. In South Australia, the annual or renewal fee is $48. A one-year renewal in NSW of an unlimited license costs $60, with discounts available as you extend your license. Heavy vehicle licenses usually cost more – and seniors may have to pass an vision or skills test before being approved for a driver’s license (ages 80 and over).

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According to the Australian Automobile Association, Australians spend an average of 14.8% of our income on transport costs – most of which include car loan payments ($166.48), fuel ($78.04) and maintenance/tyres ($30.13). All of this is up significantly from the fourth quarter of 2020, when total costs rose from $309.92 per week to $367.63 per week.

Sydneysiders pay $477.56 a week plus 15.5% of their income; Melbourne is $466.96 a week and 16.4% of their salary.

This cannot be attributed to fuel costs alone, although they have a significant impact on overall transport costs.

The average price per liter in Australia, if all taxes were taken into account, would be 87 cents – that’s 56 cents after tax and GST. In Japan, the tax is 84 cents; Korea, $1.03. The country with the lowest tax rate is the United States, where only 19 cents goes to taxes. It is also worth noting that many countries use 95 lei gasoline in their cars, which is considered a “premium” product here. The average price of R95 in Australia is $1.59/L, of which 57c goes to tax.

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Insurance in Australia is optional, but if your car is financed, it can be a condition of loan approval in most cases. Comprehensive insurance covers auto theft, collision, vandalism, hail or other weather damage and accidents, regardless of who is at fault. Most comprehensive policies also include roadside assistance, emergency maintenance, replacement and free car hire. The more “extras” offered, the more expensive the policy.

You can also opt for cheaper alternatives – property damage insurance, which insures you against damage you may cause to another vehicle – but if you cause damage to your car or ‘force majeure’, you will have to pay for the repairs yourself. a bag. “Middle Curtain” is third party fire and theft coverage, which covers you if your car is stolen or catches fire (or explodes).

The average cost of household insurance according to AAA is $25.76 a week, with Melbourne spending the most at $34.62. This means that the annual premium (usually free or extra) is $1,340. That’s an increase of $19 from the second quarter of 2021.

If you have an accident and make a claim, you will have to pay more, which is between €600 and €800.

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Of course, all of this can vary depending on age, gender and previous driving habits