According to Australian Bureau of Statistics data, insurance premiums rose 16% in the 12 months to the December 2023 quarter – the highest annual increase since 2001. It has been reported that insurers have been advising customers of double-digit price increases for most products, including home and motor vehicle.
So, why are insurance premiums rising so much?
Much of the increased costs for home insurance are attributed to the increased frequency and destructive impact…
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