We pay less for car rego, in­sur­ance

The West Australian - - NEWS - Kent Acott

WA mo­torists pay less for car regis­tra­tion and third-party in­sur­ance than driv­ers in all other main­land States.

An anal­y­sis in the In­sur­ance Com­mis­sion of WA an­nual re­port shows the av­er­age an­nual cost for a fam­ily car in WA is $656 — $421 for third-party in­sur­ance (in­clud­ing the new cat­a­strophic in­jury in­sur­ance pre­mium) and $236 for car regis­tra­tion.

This com­pares with $989 in NSW, $903 in Can­berra and $749 in South Aus­tralia.

Only Tas­ma­nia recorded a lower cost, $556.

Com­mis­sion chief ex­ec­u­tive Rod Whit­hear said the rel­a­tively low cost of mo­tor in­jury in­sur­ance was largely due to WA’s ob­ses­sion with cars.

“West Aus­tralians like their cars,” he said. “There are 1.8 mil­lion li­censed driv­ers in WA and they own 2.9 mil­lion reg­is­tered ve­hi­cles, in­clud­ing car­a­vans and trail­ers.

“West Aus­tralians own more ve­hi­cles per head of pop­u­la­tion and per li­censed driver than most of Aus­tralia, the US and the UK.

“The high num­ber of in­sured ve­hi­cles helps keep the cost of in­sur­ance for WA mo­torists low.”

Mr Whit­hear said the an­nual cost of $421 for mo­tor in­jury in­sur­ance in WA was sub­stan­tially cheaper than sim­i­lar in­sur­ance in NSW ($717), the ACT ($591), the North­ern Ter­ri­tory ($547), South Aus­tralia ($512) and Vic­to­ria ($510).

“The cost of mo­tor in­jury in­sur­ance in WA in­cludes the new no­fault cat­a­strophic in­jury in­sur­ance, which was in­tro­duced in July last year,” he said. “The In­sur­ance Com­mis­sion now runs two mo­tor in­jury in­sur­ance schemes — the cat­a­strophic in­juries sup­port scheme and the com­pul­sory third-party scheme.

“It is pleas­ing to re­port the com­mis­sion’s 2017 ad­min­is­tra­tion costs for both schemes were $2.3 mil­lion lower than bud­get.

“Th­ese are great out­comes for the or­gan­i­sa­tion and WA mo­torists.”

Mr Whit­hear said the num­ber of new mo­tor in­jury in­sur­ance claims in­creased by 11.3 per cent in 2016-17 with more than $462 mil­lion in claims pay­ments made to peo­ple in­jured in crashes.

He said the es­ti­mated fu­ture claims li­a­bil­ity was $2.2 bil­lion.

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