QBE and Budget Direct have won Canstar’s national award for outstanding value in car insurance for the second year in a row.

Canstar picked the two based on an analysis of more than 24,000 quotes on 63 products offered by more than 50 insurers.

“We use the annual insurance premium as our point of cost comparison and compare equivalent products,” Canstar Head of Research Mitchell Watson said.

“Both insurers rank highly across pricing and features, providing that ideal combination of the two that we look for.”

It marks the 10th consecutive year Budget Direct has won the national award.

“This is an incredible achievement and demonstrates the consistency of Budget Direct’s offering to Australian motorists,” Mr Watson said.

Budget Direct won the state award in NSW, Victoria and Tasmania, while QBE was the top insurer in WA. NRMA Insurance was rated the best in Queensland and SGIO in SA.