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Car insurance premiums increased 8% in the 2025 financial year, according to Asic, far outpacing inflation. The regulator found that about one in three customers who contacted their insurer before they renewed got a lower premium without any change to their policy. “The insurers bank on a lot of their customers not taking any action when they get a premium increase,” Kirkland said. “You should call their bluff – demand answers, challenge them on the increase and ask for a better deal.” Five of the insurers surveyed charged consumers 10% to 20% less if they paid their premium annually instead of in instalments, although none made the savings clear in the renewal notices, according to the regulator. Kirkland said the companies’ disclosure practices stopped customers from understanding, challenging or comparing premium increases. “There is no excuse why some insurers cannot communicate such a basic benefit to customers,” Kirkland said.
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