Car insurance costs surge across Australia

Car insurance premiums in Australia have increased by approximately 8 percent over the past 12 months, running at twice the rate of inflation. The rising costs are driven by more expensive vehicle repairs due to advanced safety technology, sensors and cameras in newer cars, combined with claim rates that have surged 47 percent in the past five years. ASIC recommends contacting insurers before accepting renewals, shopping around for better deals, and reviewing excess levels and coverage options to reduce costs.See omnystudio.com/listener for privacy information.