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Why car insurance premiums have gone up almost 50 per cent
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Car insurance in Australia has leapt by nearly 50 per cent in the last six years and this week, the financial regulator blasted insurers for failing to adequately explain to customers why they have jacked up prices by so much.So what's behind the spike in premiums?Insurers talk about the cost of repairing cars these days and global volatility, but there's plenty of evidence that companies will reduce the cost if you threaten to walk.Today's guest, national consumer affairs reporter Elias Visontay, talks about the real reason premiums have risen so steeply, and what you can do about it.
The Morning Edition brings you the story behind the story with the best journalists in Australia. Join host Samantha Selinger-Morris, from the newsrooms of The Sydney Morning Herald and The Age, weekdays from 5am.If you enjoyed this episode and want to hear more, rate, review and subscribe on Apple, Spotify, YouTube or whichever platform you find your pods.
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