Youi Car Insurance Review – award winning car insurance

Youi has award winning car insurance and can help provide peace of mind when it comes to protecting your car and finances if the unexpected happens. Read on for my full Youi car insurance review..

Verdict: Impressive award wins, great customer service , but not the cheapest insurance out there.

Introduction

Youi Insurance is one many car insurance providers in Australia. Youi car insurance was the 2022 winner of the Finder Insurer of the year. Youi car insurance has a range of car insurance policies to choose from, which can be tailored to suit with optional add-ons. Youi car insurance also offers a roadside assistance program, and rewards program.

Car insurance helps protect your finances from events that may happen in the future. For many, car insurance gives peace of mind and helps cover costs in the event of damage or an accident to your car or property, and that of someone else.

The following Youi car insurance review looks at Youi’s car insurance products and looks at the pros and cons of taking out a Youi car insurance policy.

CaptainFI is not a Financial Advisor and the information below is not financial advice. This website is reader-supported, which means we may be paid when you visit links to partner or featured sites, or by advertising on the site. For more information please read my Privacy Policy, Terms of Use, and Financial Disclaimer.

Who is Youi?

Youi insurance¹ is a general insurance provider. It’s a proprietary Australian registered company. Youi underwrites its own insurance policies. Youi insurance’s head office is in Fortitude Valley, Queensland, Australia.

While Youi is Australian-based, it’s owned by South African OUTsurance Group.

Youi also underwrites for other companies, such as Sydney-based underwriting agency Blue Zebra².

“You could have a lot of fun guessing what Youi stands for, but in the interest of time, we’ll tell you: Youi stands for You Insured. There’s nothing abstract about it. You are at the centre of our brand. We’ve built everything from our name to our products around you and your needs.”

youi.com.au/about-us¹

Who owns Youi?

Youi insurance was started by OUTsurance Group³ Limited in 2007. OUTsurance Group Limited was founded in 1998 and is a South African holding company for investment and financial services. OUTsurance Group is part-owned by publicly listed company Rand Merchant Investment Holdings. RMIJ is listed on the Johannesburg Stock Exchange.

What does Youi insure?

Youi¹ offers a number of insurance products, such as:

• Car and vehicle – including motorbike, NSW CTP Green Slip, caravan, trailer and watercraft such as boats

• Home and contents – including home, contents, building and landlord insurance

• Small business insurance

You can listen to my podcast with Katherine Hayes HERE which discusses various types of insurance.

Who underwrites Youi car insurance?

Youi insurance is a registered company for general insurance. Youi insurance underwrites its own insurance policies.

How much is Youi car insurance?

Youi car insurance offers the following car insurance options:

• Comprehensive car insurance
• Third party, fire and theft
• Third party only

For the benefit of this article, I did a cover comparison for an average, 10yr old popular car; 2014 Toyota Corolla. I used the details of a friend’s car and compared Youi insurance to their current insurer, RAC.

The first thing that struck me, was the number of Youi questions I had to answer compared to the current insurer. Secondly, the amount of demographic information Youi collects along the way. They really know a lot about you, including your field of work, before they’re willing to hand over the quote. No doubt Youi insurance ads will be filling my Facebook feed for weeks to come!

The quotes came in below as follows:

• Youi Comprehensive car insurance – $135/mth with $900 excess (adjustable), RAC $56/mth with $300 – $650 age dependent excess

• Third party, fire and theft – $50/mth, excess $900 (adjustable), RAC $30/mth with $300-$500, age dependant excess

• Third party – $ 45/mth with $900 excess (not adjustable), RAC $20/mth, with $300-$500 age dependant excess

On top of this, Youi extras can be added for a price, such as hire car cover for $10/mth and choice of repairer for $12/mth. They also deliver targeted advertising along the way, such as asking if you want a home and contents insurance policy for the address you park your car at overnight. Remember, if you make a claim, your premium is likely to go up.

Insurance policies can have a lot of fine print, which can make comparing them a challenge. However, relying on the information provided by their website, the Youi quotes seemed higher across the board, and the results of the comparison exercise didn’t motivate my friend to switch to Youi.

For more information on How to save money on your Car insurance, check out this article HERE.

What does Youi car insurance cover?

Youi car insurance⁴ covers different things, depending on the policy.

Youi Comprehensive car insurance offers top level cover for accidental damage, theft, fire, most severe weather events and damage to another person’s property. You are also covered for towing costs, reduced excess on windscreen repairs, emergency repairs, after-accident accommodation and transport costs, and up to 14 days car hire in the event of theft. You’re also eligible for new car replacement in the event of a write-off within the first 2 years of registration. Roadside Assistance and YouiRewards are also included.

Youi insurance offers Third party insurance which covers damage done by your car to someone else’s property – like if you hit a fence or get in a bingle. Third party insurance is offered on its own, or with fire and theft. If you cause injury or death to someone with your car, then this is covered by Compulsory Third Party insurance⁵, usually paid as part of your car registration.

Third party, fire and theft Youi insurance can cover things like towing costs after an accident, emergency repairs, transport and accommodation, car contents, damage to unbraked trailers up to $1500, cost of replacing or recoding stolen locks and keys up to $1000 and counselling services up to $1500.

Third party only insurance provides cover against drivers who are uninsured, up to $5000 after you pay the excess. Youi will also temporarily transfer insurance cover to a replacement car for up to 14 days.

“At Youi, we don’t do cookie-cutter car insurance. We believe you should get the cover that suits how you use your car. So we listen and ask the right questions to provide car insurance that works for you, and that’s been named Finder’s Insurer of the Year for 2022.”

youi.com.au/car-insurance⁴

What optional extras do they offer?

Youi insurance offers a number of optional extras that you can add to your car insurance policy for a fee:

• Hire car in case of an accident, even if it’s your fault, on a Comprehensive car insurance policy, and Third Party Fire and Theft policies

• Choice of repairer

• Cover for damaged or lost business items can be added to Comprehensive car insurance

• Motorhome or Campervan contents insurance, up to $1000 per item, especially useful if you live in a mobile home.

You can read more about Caravan insurance in this Canstar article here: Caravan Insurance | Camper Trailer Insurance | Canstar⁶.

What is excluded?

Youi car insurance has a number of exclusions. This includes; damage caused by someone driving your car without a licence, or under the influence of alcohol or drugs, which you knew about.

Youi insurance also doesn’t cover damage done by poor workmanship or materials. While Youi insurance does cover damage done by weather events such as storms and hail, it doesn’t cover the effects of weather such as dampness or mould.

Youi insurance also won’t cover you if you let your insurance lapse and damage occurs when you’re not covered.

How do I make a car insurance claim through Youi?

Youi insurance offers a 24/7 claims service, and the process is pretty straight forward. You can claim online, request a call or call them direct on their claims number.

You’ll need your policy number, incident detail and contact details before you start a claim. Once the claim is underway they have a tracking service to follow your claim’s progress.

Advantages of using Youi Car insurance

• Award-winning policy features and service
• 24/7 claims service
• Roadside assistance included in Comprehensive car and motorbike insurance
• Access to YouiRewards for discounts and offers on a range of goods and services
• Easy-to-navigate website
• Plenty of optional extras available
• 4.7 / 5 score on Trustpilot¹¹

Disadvantages of using Youi car insurance

• Can be pricey and may not be the most competitive quote
• High excess that can’t be adjusted on some policies

FAQs about Youi car insurance:

Has Youi won awards for their car insurance?

Youi has won a number of awards for their insurance and roadside assistance products. Youi featured prominently at the Finder Awards in 2022 as winner or finalist in the following categories:

• Youi insurance was named 2022 Insurer of the year.

• Youi Roadside Assistance was the 2022 category winner.

• Youi insurance was 2022 National car insurance finalist

• Youi insurance was Car insurance (NSW) finalist.

Youi insurance were also winners for Finder 2022 Home insurance in Victoria and Queensland.

Does Youi car insurance include roadside assist?

Youi insurance has a free Roadside Assistance service⁷, included with Comprehensive insurance policies for cars or motorbikes.

Does Youi have a rewards program?

Once you sign up for your insurance policy, you get access to the Youi insurance rewards program⁸, YouiRewards. By downloading the app for iPhone or Android, Youi customers are able to access discounts and offers from YouiRewards partners such as discounted windscreen repair, car hire, solar energy systems, furniture, travel and more.

Who is the founder of Youi?

Youi was founded by OUTsurance Group in 2007. OUTsurance group is a South African based company.

Is Youi car insurance worth it?

As 2022 Finder insurer of the year⁹, Youi is definitely doing something right. Youi was also 2022 winner of the Canstar Home Insurance Customer Satisfaction survey¹⁰. Youi put the wins down to outstanding customer service and great policy features.

However, the cost comparison above suggests the award winning car insurance provider comes at a price. For some, paying for good customer service may be worth a bit extra. For those looking for the best deal, it may be worth shopping around and comparing quotes.

Conclusion

Youi Insurance provides car insurance products to the Australian market. Youi car insurance was the winner of the Finder Insurer of the year in 2022. Youi car insurance offers comprehensive, third party fire and theft and third party only policies. You can also select from add-ons like choice of repairer and hire car. Youi car insurance also offers a rewards program and roadside assistance program.

While Youi car insurance may tick some boxes such as policy inclusions and customer service, a price comparison suggests Youi may not offer the best deal out there. So it’s worth shopping around.

Car insurance can help protect your bank balance from events that may happen in the future and for many, car insurance gives peace of mind. However, those on the FIRE path may choose to self-insure when their net worth reaches the point where paying out premiums for something that might happen no longer makes financial sense if they have the means to cover it when it does.

I currently have my car insurance through Budget Direct, and you can read my review of Budget Direct car insurance HERE.

You can also read my review of RAA Car Insurance HERE.

Reference List:

1. https://www.youi.com.au/
2. Blue Zebra confirms five-year deal with Youi, Insurance News.com.au. Published: Feb 26, 2020. Accessed online at https://www.insurancenews.com.au/daily/blue-zebra-confirms-five-year-deal-with-youi on April 17, 2023.
3. OUTsurance Holdings, Wikipedia. Accessed online at https://en.wikipedia.org/wiki/OUTsurance_Holdings on April 17, 2023.
4. https://www.youi.com.au/car-insurance
5. Compulsory Third Party, Insurance Commission of Western Australia. Accessed online at https://www.icwa.wa.gov.au/motor-injury-insurance/product-information/compulsory-third-party on April 17, 2023.
6. Caravan Insurance: For Your Home Away From Home, Elise Donaldson, Canstar. Published: May 18, 2020. Accessed online at https://www.canstar.com.au/car-insurance/caravan-insurance/ on April 17, 2023.
7. https://www.youi.com.au/roadside
8. https://www.youi.com.au/rewards
9. Finder Customer Satisfaction Awards Insurance 2021/22, Finder. Accessed online at https://www.finder.com.au/finder-customer-satisfaction-awards-insurance-2021-22 on April 17, 2023.
10. Canstar’s most satisfied home insurance customers revealed, Tamika Seeto, Canstar. Published: July 12, 2022. Accessed online at https://www.canstar.com.au/home-insurance/most-satisfied-customers-award-2022/ on April 17, 2023.
11. Youi, TrustPilot. Accessed online at  https://au.trustpilot.com/review/youi.com.au on April 17, 2023.