Owning a car is getting more and more expensive.
Online Insurance Platform Quashed reported a 40% increase in average comprehensive and third-party quotes over the last year.
Stats NZ is reporting a 22.6% overall.
Consumer NZ CEO John Duffy told Mike Hosking that there’s a lot of causes behind this, but a big one is unforeseen weather events such as Cyclone Gabrielle.
He said that insurers are seeing that that kind of event could happen again, and are updating their pricing accordingly.
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