Car owners should challenge insurers on steep price hikes, Asic says
Australia's financial regulator Asic has encouraged car owners to negotiate with their insurers over significant premium increases, revealing that many companies are raising prices faster than inflation. An Asic investigation of eight major insurers found that none adequately explained their premium calculations or price changes to customers in their quote and renewal documents. The regulator's advice suggests customers should actively challenge these hikes rather than passively accepting them.
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Car owners should challenge insurers on steep price hikes and ‘call their bluff’, Asic says
Australia's financial regulator Asic has encouraged car owners to negotiate with their insurers over significant premium increases, revealing that many companies are raising prices faster than inflation. An Asic investigation of eight major insurers found that none adequately explained their premium calculations or price changes to customers in their quote and renewal documents. The regulator's advice suggests customers should actively challenge these hikes rather than passively accepting them.
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