With 2024 fast approaching, now seems a good time to check the rear-view mirror and reflect on 2023. What were the top trends in car insurance at Youi? Which car type was king of the road? Are electric vehicles (EVs) really that popular?
We’ve got the answers to all of these questions and more after a deep dive into the Youi 2023 archives. So, buckle up as we present Youi Wrapped, a road trip through our year that was. Here are the 10 top Youi insurance trends for 2023.
1. SUVs rule, making up 40% of car insurance quotes
The family-sized cars comfortably trumped the hatchback (21%) and sedan (18%) to be crowned 2023’s king of the road. Medium-sized SUVs were the most popular – think Mazda CX-5, Toyota RAV4 and Nissan X-Trail – accounting for more than a third of all SUV quotes issued by Youi in 2023.1
2. South Australia was worse than any other state for parking-related claims
We dug into the claims around parking-related incidents and SA came out ahead of the others. Yep, relative to the number of active policies in each state, South Australia had the most parking-related claims in 2023, while Queensland had the least.1 Here are the results (in order from most to least):
- South Australia
- Western Australia
- Victoria
- New South Wales
- Tasmania
- Australian Capital Territory
- Queensland
3. Friday was the worst day of the week for car accidents
Are drivers just tired or is this about heavy traffic leaving our cities for weekend breaks? Either way, Friday came out as the worst day of the week for car accidents in 2023.1
4. 3pm was the worst time of day for car accidents
This was the time of day that aligned with most car accidents for Youi customers in 2023.1 A salient reminder to take particular care on the school run!
5. 66% more EV insurance quotes than last year
The number of EV car insurance quotes issued by Youi in 2023 was a huge jump on last year – this could be a result of the more affordable price tags on many Chinese-brand EVs, or perhaps the introduction of new government incentives for EV ownership. Even so, EVs still only accounted for 2.38% of the year’s new Youi car insurance quotes.2
6. More than 70% of EV insurance quotes were for Tesla
However, the cheaper Chinese-brand EVs are rising in popularity fast. They made up more than 15% of EV quotes this year, up from less than 12% in 2022.2
7. Caravans accounted for almost 70% of new caravan & trailer quotes
This represents continued growth in the category, which shows no signs of abating after 2019 and 2020, when caravanning boomed as a result of COVID-19 travel restrictions. Compare with 2017, when these homes-away-from-home made up just 57% of caravan & trailer quotes.3
8. New car insurance quotes have jumped
While still trailing behind second hand cars, which accounted for nearly 60% of car insurance quotes in 2023, new car quotes continued to close the gap. Youi data shows that since 2019, new cars have jumped from about a 30% share of car insurance quotes to over 40% for 2023.4
9. Battery problems were the most common issue for Roadside Assist
Yep, those pesky batteries were the reason for almost half of all Roadside Assist call-outs made in 2023. Here’s the list of the most frequently occurring issues our customers faced:1
- Flat or dead battery
- Towing required
- General issues, including tyre, electrical, cooling and suspension problems
- Lock and key issues
- Wrong fuel used
10. Christmas Day was the day with the least claims
December 25, 2022, was a good one for Youi customers, with general claims at a year-long low as Aussies, on the whole, stayed off the road and in their homes.1
And that’s a wrap. If looking back has got you thinking about your circumstances for the year ahead, consider starting a quote with Youi, and discover insurance that’s a bit more you-shaped.
1 Based on Youi internal data, 27 November 2022 to 26 November 2023
2 Based on Youi internal data, 2022 and 2023
3 Based on Youi internal data, 2017 and 2023
4 Based on Youi internal data, 2019-2023. Excludes where the person requesting the quote already owns their car.
