7 Ways to manage your Insurance Premium

I recently spoke to a customer about insurance and she asked for an article on how you can manage your insurance. I’d been meaning to share one for a while, so here it is.  Please beware though – some of these may reduce your cover, or increase the amount you pay if you need to claim.  In the interest of giving you a full list, I’ve included them anyway.

The key thing here is that it is all about managing your risk – you’ll need to decide what works for you (or not). Most of the items in this list can relate to any insurer, although some are specific to Club 4X4.

While I’ve prioritised these from what I think are the easiest and lowest increased financial risk to the more difficult and potentially more costly, you’ll need to weigh up the cost and benefit to ensure you are getting the best value from your insurance. 

1. Multi-policy discount

This is a simple way where you can save additionally by bringing your insurance to one company.  By doing so, most insurers will give you up to 10% discount when you hold 3 or more policies with them.  At Club 4X4, we’ll apply this discount when you have 2 or more, and we can put everything on a Single Policy too (read more about a single policy with Club 4X4 and the Multi Policy or asset discount here).

2. Take an Age / Driver Restriction

The next easiest way to help reduce your premium is to take an Age / Driver Restriction.  This limits who can drive your car, but that certainty for the insurer translates to a smaller premium.  For some insurers this will look like a nominated driver policy (where only the nominated drivers can drive the car), and for others it might be an age restriction – (no-one underthe age of X drives the car).  At Club4X4, we offer an Age restriction, running in brackets of 5 years up until 35.  The higher the age restriction, the more you save.  So, for example, you’d see a bigger reduction if you select no one under the age of 30 driving the car than you did if you said no-one under 20. The beauty of our system is that you have flexibility to select a rangeof ages, not just under 25’s!

The catch with this is that you are generally not covered if someone under the age you select drives the car.

3. Review those optional extras

There are a range of optional extras you can take up with most policies, which will increase your cover, but at a cost.  This includes things like hire car after theft, free windscreen replacement cover, and sometimes even roadside assistance.

If you need to reduce your premium, it is worth considering whether you could take these off your policy. It will reduce your premium, but beware, you will also reduce the cover you have available, so another one to do a cost benefit analysis on.

Also beware that sometimes you can’t add or reduce these covers mid term, so in some cases you may need to wait until renewal to drop the cover if you decide you don’t need it.

4. Take Laid up cover (Caravans/Camper Trailers etc)

If you’ve got a Camper Trailer or Caravan and want to reduce your premium further, and you know you won’t be taking it away, layup cover is a great choice.  Witha Club 4X4 policy, you can choose up to 2 layup periods per year which can help make the most of when you can’t get away.

Please remember though, with this option you are only covered for fire, theft, or a claimable event at the garaging address, not out on the road.  You even need to call your insurer for permission if you are going to take the vehicle for a service.

5. Increase your excess

Increasing your excess can be another easy way to reduce your premium, although it does have the effect of increasing the amount you pay if you need to make a claim, and that is why I’ve put it further down the list.  Effectively here, you take on more of the risk or potential cost in the case you need to make a claim.  It can be beneficial if you don’t have a claim, but it will work out more expensive if you do!

Club 4X4 has a standard $650.00 excess.  To help manage your premium though, you can choose an $850, $1,200, or $1,800 excess.

6. Complete Driver training

Completing driver training can be another way to reduce your premiums.  It is a great (and fun) way to improve your driving skills and will also reduce your chance of having an accident.  I’ve included it down here though because you need to book and pay for a course in most cases to become eligible for the discount.

At Club 4X4, you can save up to 20% by completing accredited offroad 4X4 training or offroad towing training, plus we can get you discounts on the training.  Find out more here

7. Become a member of a 4WD Club

Many insurers will offer some kind of discount to certain clubs or groups.  Find out which ones and see if you can become a member to save.

Club 4X4 offers an additional 5% discount to those who are members of a 4X4 Club that is affiliated with us.  You can find out more about how to access the discount or sign your club up here

I hope you’ve found this useful!


Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from our team.

You have Successfully Subscribed!

Comments 16

  1. Aiden,

    Thank you for that informative insight. It brings to mind, re our policy, that my wife and I have completed the Toyota Landcruiser Club compulsory 4X4 driver training course. Would this comply to receive a discounted Premium on our Club 4X4 vehicle insurance policy?


    1. Post
    2. Good luck with that discount for professional off road training and/or 4WD club membership.

      I’ve emailed several times going back three years, with the promise that “I’ll have someone look into that”, only to be disappointed – again and again.

      My last effort was a phone call where I was told, “I’ve got a stack of seven hundred request in front of me. You are in line after that”, and there are NO guarantees.

      This is a prime example of quick success spoiling an understaffed company.

      Sad, really sad.

      1. Post

        Hi Brad, leave this with me – I’m driving back from Melbourne today, but I’ll look into it for you on my return to the office. I’m sorry you had that experience…

  2. G’day Aidan, thanks for an informative guide on saving a quid in insurance.
    I have asked this question before to no reply so I will ask again.
    “Will the addition of aftermarket immobilizers and tracking devices reduce the premium?”
    Cheers Andy

    1. Post
  3. Hi Aiden. I have spent close to 30 years operating road trains across Northern Australia Would that qualify for towing
    Cheers Dave

    1. Post

      Hi David, I’d love to say yes, but at this point we can only accept nationally accredited off-road training. You are not the first person to ask this though, so let me have some internal conversations and see where things end up. I’m in Melbourne this week so I’ll try to get back to you next week. Aiden

  4. Gidday Aiden
    We store our caravan in a locked shed on our property does Club 4×4 give discounts for this as there is a reduced risk of hail damage & theft etc.

    1. Post

      Hi Wayne, as part of the process there would be question about how the trailer is garages. If you answered correctly, you should be getting a rate that reflects this.

  5. G’day Aiden, thanks for the article. A question about what happens when you give your car to a mechanic or similar company and they are involved in an insurable event. Would that come off that companies or car owners insurance? We can never control who (age) or how they drive our car when in their control. Thanks

    1. Post

      Hi Simon, good question. If a mechanic is driving your car and has an accident or damages it, it would be their responsibility to pay for it or fix it. If necessary you could lodge a claim with us, and then we would chase them, but in the first instance I’d speak to them about it…

  6. Hi Aiden
    A great read and some interesting points. With optional extras customers need to be careful and weigh up whether it is cheaper to take off extras as you say. Especially with windscreen cover as this usually includes all the glass on the vehicle. A plain windscreen may be relatively cheap to replace but these days a lot of vehicles and they are only increasing, have rain sensors and forward facing cameras that need recalibration after replacement. These add to the cost of windscreen replacement and are on the more expensive side of glass. Also canopy glass is very expensive to replace. It is always a big shock to our customers how much it costs if they are caught out without cover.

  7. G’day Aiden, thanks for the article. A question about what happens when you leave your car at a mechanic or similar company and they are involved in an insurable event. Whose insurance does that come off the companies or the car owner?
    We never know who (age) or how they drive our car after we leave it.

    Also on the topic of reducing premiums some 4wd’s are set up as ‘tourers’ only not ‘daily drivers’. Like you have set up for the trailers etc point 4) ‘Laid up cover’ can that be an option for the 4be too? If the trailers not going anywhere maybe the 4be isn’t either. Nominated periods of travel 2, 4, 6 months etc.


    1. Post

      Gday Simon,
      I’ve answered your first question in another comment. As for the second, this is not super common which is why we do not currently offer it. It’s something I’ll add to the list for consideration though!

  8. Hi Aiden
    Anne here, I was the customer who chewed your ear off at Narellan. I appreciate the followup. A couple of comments.
    1. Regards Simons comment about touring rigs not being used for the daily drive and possibility of laid up cover similar to campers, I think it is a lot more common than you realise. Many of us have multiple vehicles and our fourby only gets used occasionally. . The problem with laid up cover is making it time specific, such as school holidays as with van cover. I know you argued against the idea of a low kilometre option for vans as they dont have speedos, but our fourbies do. In six years my fourby has managed only 25’000 km but I pay the same premium whether I am doing a lap of Australia or 5000 km in any year. I would be happy to send photos of an odometer twice a year to prove low km travelled. My risk has to be lesser due to my useage pattern and I am not alone. I know that something that customers see as a simple no brainer is complicated to put in an insurance policy, but most insurers these days ask customers to state how many km will be travelled and they accept the response without proof. In the event of a claim, proof is not so hard to supply for some of us, service records, rego inspections etc all mention odometer reading. Maybe give customers an option to have a mechanic sign a form stating odometer reading once a year? And if we can prove low km on the tow vehicle then that can be used to support low km claim for a van or camper.
    Maybe you could do another survey, asking how many customers dont commute in their fourby, how many times a year they generally drive their fourby (either total days or number of trips undertaken). Keep in mind how many of us have more than one fourby inured too as this affects survey responses and for many of us means our trips are spread across multiple vehicles…. I cant drive two at the same time….
    2. My other comment is to support those who have commented on this topic about poor customer service, which I also raised with you. Perhaps a next newsletter you could discuss the changes Club 4×4 is making and what has been or is being done to address and improve customer service issues. Club 4 x 4 got it right to start with but perhaps the pace of growth meant that initial level was not sustained. The disenchanted need a cuddle….

Leave a Reply

Your email address will not be published. Required fields are marked *