How to choose the right car insurance

30 June 2023

Choosing the right car insurance isn’t always as simple as choosing the cheapest option. Value for money is what you should aim for — and what represents good value for you depends on your circumstances.

Required vs optional coverage

CTP Insurance — also known in NSW as a Green Slip — covers you for injuries to other people caused by your vehicle in an accident. This kind of insurance is compulsory everywhere in Australia, though in some states it’s bundled with your registration and doesn’t need to be purchased separately.

If you’re in the ACT, you’ll need to have MAI Insurance. MAI is similar to CTP, but it covers injuries to the responsible driver as well as third parties.

While CTP and MAI Insurance are required, it’s also a good idea to consider an optional car insurance product that covers the vehicle and property damage, too. 

Explore Car Insurance options


Types of car insurance coverage

GIO offers a range of car insurance products to suit your needs. From our bells-and-whistles GIO Platinum Cover to just-the-basics Third Party Property Damage cover, there’s a car insurance option to suit everyone.

Comprehensive Car Insurance

Comprehensive Car Insurance generally provides cover for damage to your car, as well as damage to other people’s vehicles and property. It also offers you the flexibility to add optional covers like hire car cover after an event, GIO Roadside Assist and windscreen and window glass replacement. 

Learn more about Comprehensive Car Insurance

GIO Platinum Cover 

GIO Platinum Car Insurance includes everything you'd get from our Comprehensive Car Insurance — plus some unique features and benefits such as lifetime new car replacement after a total loss for eligible customers1, and hire car cover after an event for as long as you need. 

Explore GIO Platinum Cover 

Third Party Property Damage

GIO’s Third Party Property Damage Insurance – not to be confused with Compulsory Third Party (CTP) Insurance – gives you a basic level of cover for damage caused by your car to another person’s vehicle or property, and can also provide up to $5,000 cover for damage to your car caused by uninsured drivers. 

Explore Third Party Property Damage Insurance

Fire, Theft and Third Party Property Damage

GIO’s Fire, Theft and Third Party Property Damage Insurance provides cover for other people’s property, with the added peace of mind that comes with cover for loss or damage to your car caused by fire or theft. 

Explore Fire, Theft and Third Party Property Damage Insurance


Factors to consider when choosing car insurance

Excess amounts

An excess is the amount of money you have to contribute to the cost of your claim. Your insurance company provides cover above the amount of your excess.

A higher excess generally means lower premiums. But there may be a higher cost if you ever have to claim, so it’s important to consider how much excess you’re willing to pay and factor that into your budget when deciding on a policy.

Age and value of your car

Generally speaking, if your car isn’t of high value or you would be willing to cover the total cost to repair or replace it if you were to have an accident, you may choose to invest in a more basic level of cover like third party car insurance. However, if your car is worth more than you could afford to repair or replace, or has recently been purchased, investing in a higher level of cover like GIO Platinum or Comprehensive Car Insurance may be worth considering. 

Use of your car

Consider how often and where you use your vehicle, as this may affect what kind of policy makes sense for you. If you rarely use your car and it is not valuable, then third party property damage products might be sufficient for your needs. However, if you use your car daily or take extended road trips, then more comprehensive coverage may be worth looking into.

Get a GIO Car Insurance quote

Whether you’re after comprehensive cover or just the essentials, you can be sure to find an insurance type that’s right for your needs with GIO. Compare GIO Car Insurance online and avoid doubt – know with GIO.

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1 You must be the first registered owner and your car continuously insured under GIO Platinum cover from within 13 months of purchase until the time of total loss. A replacement car of similar make and model must be available.

Insurance issued by AAI Limited ABN 48 005 297 807 trading as GIO. Any advice has been prepared without taking into account your particular objectives, financial situation or needs, so you should consider whether it is appropriate for you before acting on it. Please read the relevant Product Disclosure Statement before you make any decision regarding this product. The Target Market Determination is also available.

The information is intended to be of general nature only. Subject to any rights you may have under any law, we do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, incurred as a result of reliance upon the information. Please make your own enquiries.