Annual average car insurance expenditure now totals $1472 – a 24 per cent spike over the last year.
Who is bearing the brunt of this surge in car insurance expenses?
New South Wales and Victorian residents cop it worst, shelling out $1717 and $1817 respectively. The least expensive states were Tasmania and Western Australia, with average charges of $1183 and $1264 respectively.
Age, gender, and brand of the car also factor into costs. Young drivers under 20 years of age hand over the most, with a $2855 annual average. Drivers over 70 pay significantly less, clocking in at only $1051 per year. Men fork out more, averaging $1578 annually, in contrast to the $1358 paid by women.
Car make, model and even colour can incredibly influence annual costs. Obviously high-end vehicle brands cop heavier fees, with Rolls Royce owners charged an eye-watering average of $8806 annually (ha ha). Car colour plays a surprising role too; neutral shades like black, silver, and white hitting owners with more hefty costs, as compared to the relatively affordable insurable green vehicles.
Have you noticed a bump in your car insurance costs? Or have you noticed certain ‘extras’ now not included in your renewed policy? Are you happy with your insurer?
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