Compare policies on the cover provided, not just the premium, as cheaper insurance may have higher excesses, lower limits or more exclusions. Check the Product Disclosure Statement (PDS) for what is covered, waiting periods, claim conditions and whether cover is based on replacement value or an agreed amount. Make sure the sum insured reflects your likely costs, and compare optional extras such as roadside assistance or rental car cover. Check the insurer’s claims process and financial strength, and ask a licensed insurance broker if you need help understanding the differences. The final choice depends on your circumstances and the provider’s terms.