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What insurance really costs

A premium is a yearly number and you earn by the hour. See it per hour and per kilometre, compare two quotes on excess as well as price, and price what a write-off would actually cost you.

Your week
hrs
km
$

After fuel and costs, before this policy

The policy
$
$

What you pay on a claim, before they pay anything

$

Extra excess when the claim happens while you are working. Often $300 to $500, and it stacks.

A second quote
If it is written off
$
weeks

Claim, replace, get back on the apps

What it costs you
A weekSpread over 48 weeks of driving$58.33
An hour driven$1.46
Per kilometrePut this beside fuel, not beside your rent5.83c
Hours a year worked to pay itAt what you keep per hour. This is the part no insurer quotes.93 hrs
What you are insuring against
6 weeks not driving$7,200
A write-off, all inThe car, plus the weeks you are not earning$29,200
Excess you would pay$1,600
Years of premium that equals10.4 yrs

This compares what policies cost, not what they cover, and it is not advice about which to buy. Two things to check in the policy itself. First, that it permits ride-sourcing: one that excludes it still charges the premium and pays nothing on the claim. Second, whether it pays an agreed value or market value on a write-off. Market value is worked out when you claim, not when you sign, and rideshare kilometres pull it down fast, so the figure above may be more than the policy would actually pay.

The thinking behind it

More free tools

  • What driving really pays

    Your weekly pay, less fuel, wear, car costs, GST and income tax. The hourly rate the apps never show.

  • Cents per km or logbook?

    Cents per kilometre stops at 5,000 km. See what the logbook method could be worth for the kilometres you really drive.

  • Rent or buy the car?

    A rideshare rental against owning: weekly cost with fuel, insurance, servicing and what the car loses in value.

Track it for real.

DriveWise AI works this out from every shift you log, whichever apps you drive for, and builds your car logbook, BAS figures and year-end file as you go.

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