Car owners should challenge insurers on steep price hikes and ‘call their bluff’, Asic says
The Australian Securities and Investments Commission (Asic) has criticized motor insurers for raising premiums significantly faster than inflation without providing transparent justifications. The regulator advises consumers to challenge these price hikes, noting that many insurers lower premiums when customers proactively negotiate.
A report by Asic also found there was poor price transparency across the motor insurance sector./iStockphoto A report by Asic also found there was poor price transparency across the motor insurance sector./iStockphoto Insurance (Australia) Car owners should challenge insurers on steep price hikes and ‘call their bluff’, Asic says Regulator finds many insurers raising premiums faster than inflation and advises customers to ask for better deals
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