How’s my car insurance premium calculated?

See all Car insurance FAQs

Last updated 13 January 2016


There are a range of factors that determine how much you pay for your car insurance. Here are a few:

  • Your car’s make, model, series and year of manufacture
  • Your car’s value, including the value of any non-standard modifications or accessories
  • Your sum insured, which is driven by whether you choose market or agreed value
  • The age and gender of the drivers
  • Where your vehicle is parked overnight

Important information: Car Insurance is provided by Commonwealth Insurance Limited ABN 96 067 524 216 AFSL 235030 (CIL). CommInsure is a registered business name of CIL. CIL is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 (The Bank). The Bank does not guarantee the obligations or performance of CIL or the products it offers. This information is provided by CIL and where we refer to ‘we’, 'us' and ‘our’, we mean CIL. You can download the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) by clicking on the links, or by calling us on 13 2423 for a paper copy.

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