Whether your car insurance covers vandalism will depend on the type of cover you have and the circumstances surrounding the damage.
If you have fire, theft and third party liability insurance, you may be covered for damage that’s related to a theft or fire. For example, if a vandal sets your vehicle alight or damages it while attempting to steal it, you may be covered.
If you have comprehensive car insurance, you can be covered for acts of vandalism, depending on the circumstances surrounding the incident.
Check the Product Disclosure Statement (PDS), any applicable Supplementary PDS and Target Market Determinations for more information on what’s covered, what’s excluded, and any limitations that apply to the car insurance policy you’re considering.
Your excess is the amount you pay towards each claim you make. Increasing your excess may help reduce the cost of your premiums. You may be able to nominate an excess that suits your individual needs:
Your Certificate of Insurance shows the types and amounts of excesses that may apply to your policy. More than one excess may apply to a single claim.
Who to pay any excesses to – you may be asked to pay an excess to your insurer or a third party like a repairer or supplier on their behalf
Unless you’ve purchased a ‘no excess’ insurance policy or you’re making a CTP claim, you should be prepared to pay at least a basic excess on any car insurance claim you make. How much your excess(es) will cost depends on several factors, including whether:
All cars registered in Queensland must have compulsory third party (CTP) insurance, which you purchase when you register your car or renew your registration.
Queensland’s CTP insurance scheme is regulated by the Motor Accident Insurance Commission (MAIC). To find out more about CTP or to calculate your CTP premium, visit the MAIC website.
As CTP insurance only covers not at-fault people who are injured in an accident and doesn’t cover vehicle or property damage, you may wish to purchase extra insurance.
The cost of car insurance: While it is tempting to buy car insurance solely based on the price of premiums, it’s important to think about the costs you may incur in an accident. If you have a low level of cover or a high excess, you’ll likely be more out of pocket at claim time.
The value of your car: If your car isn’t worth very much and you could live without it after an accident, you may only need cover in limited circumstances. If you can’t live without your car or you can’t afford to foot a repair bill, comprehensive insurance might be a better option.
Policy inclusions: Make sure your policy includes cover for events you want to be protected against. For example, if you live in an area with frequent hail, you might want to ensure you’ve got hail and storm cover included.
Vehicle type: Not all insurers provide cover for all types of vehicles. For example, if you drive a unique vehicle, you may want to contact the insurer to explain your modifications and check if they will provide cover.
To find out more information on a car insurance policy, read the Product Disclosure Statement (PDS), any applicable Supplementary PDS and Target Market Determinations. Note: CTP policies don’t have a PDS, SPDS or Target Market Determination.
When researching car insurance for young drivers, you’ll notice the options are the same as those available to older drivers. If you’re under 25, you’ll still have to purchase mandatory CTP insurance, and you can still get additional insurance like comprehensive or third party liability cover.
Younger drivers may, however, pay more for their car insurance regardless of the type of car insurance they buy. This is because they have less experience than other drivers on the road and statistically they are at a greater risk of having an accident than some other drivers.
An age excess may also apply to any claims made by younger drivers, unless they’re making a CTP claim.
Errors And Omissions Professional Liability InsuranceConsider your car’s repair/replacement costs: If you drive a cheap car that will be inexpensive to replace or repair, third party liability insurance or fire, theft and third party liability cover may be a good option for you. If your repairs would cost more, you should consider whether a comprehensive policy may be more appropriate.
Don’t modify your car: You may find it difficult to insure a modified car, particularly if the modifications increase speed or require rare parts to repair, and policies that do cover modified cars are usually more expensive and attract higher excesses.
List all drivers on your policy: If you have friends, housemates or relatives that frequently drive your car, you may need to let your insurer know, as many policies have excesses or exclusions for unlisted drivers.
What type of car insurance rideshare drivers need depends on the operator they work for. At a minimum, your operator will want you to provide proof that you have CTP insurance and a third party liability policy.
If you already have car insurance, make sure that there are no exclusions in your policy for carrying passengers for monetary gain before you sign up to become a rideshare driver.
Uber requires you to have CTP insurance and third party liability property damage or comprehensive insurance, however, there are additional requirements if you want to drive UberX. You can view Uber’s Brisbane vehicle requirements here.
Didi requires you to have CTP insurance and third party liability or comprehensive insurance. You can view Didi’s full list of Queensland driver requirements here.
Didi requires you to have CTP insurance and third party liability or comprehensive insurance. You can view Didi’s full list of Queensland driver requirements here.
Ola requires you to have CTP insurance and third party property or comprehensive insurance. You can view Ola’s driver requirements here.
Because the cost of car insurance depends on many different factors, there's no average cost of car insurance. The good news is that many insurers will allow you to get a car insurance quote online so that you can compare car insurance costs before you buy.
Your age affects both the cost of your car insurance premiums and the excesses that may apply to claims you make.
Premiums may be higher for younger, less experienced drivers who tend to have more incidents than older, more experienced drivers.
An age excess often applies if an incident happens and the driver of the vehicle is under 25 years old.
There are some circumstances where an age excess may not apply, or an unlisted driver age excess (which is more expensive) may apply. CTP claims do not require you to pay an excess. For more information about a comprehensive or third party liability car insurance policy, read the Product Disclosure Statement (PDS), any applicable Supplementary PDS and Target Market Determinations.
To calculate the cost of car insurance, your insurer will assess the likelihood of you making a claim according to various items of information about your policy which are called ‘premium rating factors’.
To find out how a specific insurer calculates their premiums, refer the relevant PDS for the policy you're considering.
Depending on the type of policy, you may be able to insure your car for an agreed value, or its market value.