Car insurance renewal: the questions ASIC’s 2026 review says are worth asking

22 October 2026

ASIC’s Report 838, released on 11 August 2026, examined how car insurers explain premiums when customers buy or renew cover. It reviewed eight brands across five insurers and incorporated consumer research conducted in January 2026.

The regulator found that explanations of premium changes were often too general. It also highlighted the importance of making differences between annual payments and instalments clear. Its consumer research found that 31% of people who contacted their insurer before renewing obtained a lower premium without changing cover; that is a research result, not a guaranteed saving.

At renewal, compare the total annual cost, insured value, excess, inclusions and exclusions. If paying by instalments, ask for the full cost over the policy period. A smaller regular payment does not by itself establish a cheaper policy.

Ask the insurer to explain changes in writing and make sure the vehicle and usage details are accurate. Keep the renewal and policy documents so you can compare like with like. Insurance questions about eligibility, claims or cover should go to the insurer or a suitably qualified adviser rather than being inferred from a workshop estimate.