MAIB premiums the lowest in Australia

The Hodgman majority Liberal Government is committed to reducing the cost of living as part of delivering our Plan to make life even better for Tasmanians.

In good news for motor vehicle owners, there will be no general increase for MAIB vehicle premiums from December 2018.

This follows no general increase in motor vehicle premiums for 2017-18 and a 7.5 per cent reduction in premiums the year before, making premiums for a standard car less than they were 14 years ago and the lowest in Australia.

Pensioners and Health Care Card Holders continue to receive a 20 per cent discount on motor car and light goods vehicle premiums.

MAIB enjoyed a strong 2017-18 year and is in a good long-term financial position holding a funding ratio of 136 per cent while providing consistently strong returns to Government.

There is a general trend in Tasmania of reduced frequency of claims and average claim costs which can be attributed to advances in vehicle safety technology, road safety improvements, better infrastructure, education campaigns and enforcement activities.

The MAIB provides $3.7 million to the Road Safety Advisory Council which works with the Department of State Growth, Department of Police, Fire and Emergency to reduce the number of serious casualties on Tasmanian roads.

Congratulations to the MAIB Board, executive team and employees – your strong financial result has helped us reduce the cost of living for Tasmanians while ensuring those injured as the result of car crashes receive appropriate and compassionate care.

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