Tasmanians pay lowest third party insurance in nation

Michael Ferguson,Minister for Infrastructure and Transport

Tasmanian motorists continue to enjoy the lowest compulsory third party insurance premiums of all states and territories.

The Tasmanian Liberal Government is committed to reducing cost of living pressures and motorists will this year benefit from no general premium increases from 1 December 2021.

This follows a four per cent general decrease to premiums the previous year, and reflects ongoing safety improvements on our roads, increased education campaigns, as well as enforcement activities.

It means that for a standard four-cylinder car, the annual Motor Accidents Insurance Board (MAIB) premium remains at $282, less than it was back in 2001, and well below the highest premiums in the country at $575.

In real terms, relative to average wage earnings, the MAIB premium for a standard car has reduced by more than 50 per cent over the past decade.

This is despite the MAIB scheme providing arguably the best overall no-fault benefits to those injured through motor vehicle crashes, as well as achieving consistently high client satisfaction.

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

The MAIB’s consistently low premiums assist in cost of living pressures, in addition to the Tasmanian Liberal Government’s introduction this year of quarterly vehicle registration payments to assist Tasmanians with bill smoothing.

The MAIB is well positioned in terms of its long-term financial position, and consistently provides strong returns to Government as well as ensuring those who are injured in crashes are provided appropriate care and support, on a no fault basis.

The organisation is once again to be congratulated on this excellent outcome for Tasmanian drivers and families.

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