See what a percentage discount, a dollar credit and dropping optional extras do to your car insurance renewal premium.
When you ring your insurer about a renewal, or look at a new quote online, the price often changes through a few separate levers: a percentage discount (for buying online, holding several policies or a loyalty offer), a fixed dollar credit, and optional extras you can add or remove, such as hire car after an accident, windscreen excess waiver or no claim bonus protection. This calculator shows the combined effect so you can compare the result with a new quote.
Formula. Discount value = premium x percentage / 100 + dollar credit x number of policies. Premium after changes = premium - discount value - cost of extras removed. In reality a percentage discount is sometimes applied after extras are priced, and sometimes only to the base premium before GST and stamp duty, so the real figure can differ by a few dollars. Check the revised quote in writing.
Worked example (illustrative). A renewal premium of $1,380 with a 10% online discount gives $138 off. Removing a hire car option costing $95 a year brings the premium to $1,380 - $138 - $95 = $1,147. If a new insurer quotes $1,120 for identical cover including the hire car option, the new quote is better value by $1,147 + $95 - $1,120 = $122, because you would keep the extra.
Limits. Only remove extras you genuinely do not need: a hire car option is worth little if you have a second car, but a lot if you rely on one car for work. Discounts are set by each insurer and can change or end at the next renewal. Figures are examples, not offers.
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