Big rise in car insurance

Share Canberra's trusted news:

COMPULSORY third party insurance premiums in the ACT will jump 8 per cent from August 16.

The CTP insurance premiums charged by NRMA Insurance, insures most vehicles in the ACT. The new premium for a family car will be $526.60, an increase of $39.10. Insurance premiums last increased in April 2010.

ACT Government Treasury said the approval of NRMA’s new premiums follows an extensive actuarial review process. Under CTP legislation, licensed insurers are requited to charge premiums that will fully fund their present and future liabilities under the legislation to people injured in road crashes but which are not excessive.

The Treasury said the main reason for the increase is growth in the size of award payments, including movements in average wages (a significant part of claims payments), partially offset by a decrease in the overall number claims.

The new premium schedule is available at http://www.treasury.act.gov.au/compulsorytpi/index.shtml

Who Can You Trust?

In a world beleaguered by spin and confused messages, there's never been more need for diverse, trustworthy, independent journalism in Canberra.

Who can you trust? Well, for more than 25 years, "CityNews" has proudly been an independent, free, family-owned news magazine, serving the national capital with quality, integrity and authority. Through our weekly magazine and daily through our digital platforms, we constantly and reliably deliver high-quality and diverse opinion, news, arts, socials and lifestyle columns.

If you trust our work online and believe in the power of independent voices, I encourage you to make a small contribution.

Every dollar of support will be invested back into our journalism so we can continue to provide a valuably different view of what's happening around you and keep citynews.com.au free.

Click here to make your donation and you will be supporting the future of journalism and media diversity in the ACT.

Thank you,

Ian Meikle, editor

Previous articleSupreme role for Burns
Next articleSwap away to new wardrobe

Leave a Reply