Car insurance costs rise.
Car insurance costs have increased at three times the rate of inflation over the past year according to research from Canstar. After comparing more than 28,000 car insurance policy quotes for a variety of vehicles and customer/driver categories from all over Australia they found that the average increase in costs was 7.95% which is well above the inflation rate of 2.5%. It seems that the car insurance premiums for families took the biggest hit with increases of more than 12%. Under 25’s next hardest hit with increases of almost 10%.
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