Latest news with #Canstar
The Advertiser
a day ago
- Automotive
- The Advertiser
Car insurance premiums are still increasing, just not as quickly
New data published by Canstar shows car insurance premiums have increased by 5.8 per cent or $122 this year – up from an average annual fee of $2104 in 2024 to $2226 in 2025. While that's a much smaller increase than the 30.5 per cent average price hike in 2024, insurance premiums vary significantly depending on the state or territory in which you live, as well as your age, sex and driving record, and of course the type of vehicle you're insuring. Canstar's 2025 Car Insurance Star Ratings and Awards is based on the analysis of over 67,000 full comprehensive policy quotes for both new and used cars in a range of scenarios, and with a state-specific target excesses ranging from $800 to $1000. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The data shows that, on average, Victorians pay the most for their comprehensive car insurance, at $2940 per annum. They have also been hit with the biggest annual increase, with premiums rising by an average of $225 or 8.3 per cent year-on-year. When it comes to driver types, mature drivers experienced the biggest price hikes, with an average increase of 6.5 per cent in their comprehensive cover over the past year. But the highest car insurance prices overall continue to be paid by young male drivers under 25, who face average annual premiums exceeding $3000 because their higher accident rates make them a greater risk for insurers. Canstar says someone paying an average premium of $2226 who switches to one of its top-rated policies could potentially save up to $692 or 31.1 per cent in one year, while drivers who switch to a five-star rated policy in Victoria stand to save more than those in any other state – $967 or 32.9 per cent on average. In terms of driver types, it's families who stand to save the most (more than $1000) by switching to a five-star policy as rated by Canstar, followed closely by young male drivers. "This year's premium increases might not have been as steep as previous years for many drivers, but a 5.8 per cent hike isn't exactly easy to swallow," said Canstar's data insights director Sally Tindall. "One of the biggest mistakes drivers can make is viewing their annual renewal notice as a tick and flick exercise. Instead, your notice should be seen as a reminder to do a quick comparison. "Our research shows drivers taking out a new policy can potentially save $692 by switching from an average priced premium to a Canstar top-rated one. That's an average saving – those who have copped price hikes from their insurer for years could stand to save even more." Based on the 51 products it examined from 43 insurers as part of its 2025 Car Insurance Ratings and Awards, Canstar identified six providers that offered outstanding value to Australian drivers both nationally and by state/territory, based on a comprehensive comparison of price and policy features. It also nominated one that offered the highest claims satisfaction and claims features nationwide. Outstanding Value Award: Bingle, Budget Direct, ING, ROLLiN' Insurance, Virgin MoneyQLD, NSW, VIC, TAS, SA: ROLLiN' InsuranceWestern Australia: BingleNorthern Territory: Australia PostMost Satisfied Customers Car Insurance Claims: RAA "When shopping around for insurance, price is important, however, it's not necessarily about getting the lowest price policy in town. You want to be looking for value for money, that is, a decent level of cover at a competitive price," continued Ms Tindall. "The research team at Canstar has compared an astonishing 67,000 quotes across 43 different providers, assessing both the cost and what's included for each one to help drivers identify good-value options. "There are also other ways to reduce your premium, like increasing your excess, removing additional drivers who no longer use the car and maintaining a clean driving record. "It's also worth checking if your insurer offers discounts for infrequent and safe drivers. For example, ROLLiN' Insurance uses a 'Safe 'n' Save' app that assesses things like a driver's acceleration and braking with a discount of up to 15 per cent on offer based on your score. "For people on an ultra-tight budget, the temptation might be to ditch their comprehensive insurance altogether, however, a quick check could potentially see you keep your insurance, with a higher level of cover at a lower price – all in one simple switch." Content originally sourced from: New data published by Canstar shows car insurance premiums have increased by 5.8 per cent or $122 this year – up from an average annual fee of $2104 in 2024 to $2226 in 2025. While that's a much smaller increase than the 30.5 per cent average price hike in 2024, insurance premiums vary significantly depending on the state or territory in which you live, as well as your age, sex and driving record, and of course the type of vehicle you're insuring. Canstar's 2025 Car Insurance Star Ratings and Awards is based on the analysis of over 67,000 full comprehensive policy quotes for both new and used cars in a range of scenarios, and with a state-specific target excesses ranging from $800 to $1000. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The data shows that, on average, Victorians pay the most for their comprehensive car insurance, at $2940 per annum. They have also been hit with the biggest annual increase, with premiums rising by an average of $225 or 8.3 per cent year-on-year. When it comes to driver types, mature drivers experienced the biggest price hikes, with an average increase of 6.5 per cent in their comprehensive cover over the past year. But the highest car insurance prices overall continue to be paid by young male drivers under 25, who face average annual premiums exceeding $3000 because their higher accident rates make them a greater risk for insurers. Canstar says someone paying an average premium of $2226 who switches to one of its top-rated policies could potentially save up to $692 or 31.1 per cent in one year, while drivers who switch to a five-star rated policy in Victoria stand to save more than those in any other state – $967 or 32.9 per cent on average. In terms of driver types, it's families who stand to save the most (more than $1000) by switching to a five-star policy as rated by Canstar, followed closely by young male drivers. "This year's premium increases might not have been as steep as previous years for many drivers, but a 5.8 per cent hike isn't exactly easy to swallow," said Canstar's data insights director Sally Tindall. "One of the biggest mistakes drivers can make is viewing their annual renewal notice as a tick and flick exercise. Instead, your notice should be seen as a reminder to do a quick comparison. "Our research shows drivers taking out a new policy can potentially save $692 by switching from an average priced premium to a Canstar top-rated one. That's an average saving – those who have copped price hikes from their insurer for years could stand to save even more." Based on the 51 products it examined from 43 insurers as part of its 2025 Car Insurance Ratings and Awards, Canstar identified six providers that offered outstanding value to Australian drivers both nationally and by state/territory, based on a comprehensive comparison of price and policy features. It also nominated one that offered the highest claims satisfaction and claims features nationwide. Outstanding Value Award: Bingle, Budget Direct, ING, ROLLiN' Insurance, Virgin MoneyQLD, NSW, VIC, TAS, SA: ROLLiN' InsuranceWestern Australia: BingleNorthern Territory: Australia PostMost Satisfied Customers Car Insurance Claims: RAA "When shopping around for insurance, price is important, however, it's not necessarily about getting the lowest price policy in town. You want to be looking for value for money, that is, a decent level of cover at a competitive price," continued Ms Tindall. "The research team at Canstar has compared an astonishing 67,000 quotes across 43 different providers, assessing both the cost and what's included for each one to help drivers identify good-value options. "There are also other ways to reduce your premium, like increasing your excess, removing additional drivers who no longer use the car and maintaining a clean driving record. "It's also worth checking if your insurer offers discounts for infrequent and safe drivers. For example, ROLLiN' Insurance uses a 'Safe 'n' Save' app that assesses things like a driver's acceleration and braking with a discount of up to 15 per cent on offer based on your score. "For people on an ultra-tight budget, the temptation might be to ditch their comprehensive insurance altogether, however, a quick check could potentially see you keep your insurance, with a higher level of cover at a lower price – all in one simple switch." Content originally sourced from: New data published by Canstar shows car insurance premiums have increased by 5.8 per cent or $122 this year – up from an average annual fee of $2104 in 2024 to $2226 in 2025. While that's a much smaller increase than the 30.5 per cent average price hike in 2024, insurance premiums vary significantly depending on the state or territory in which you live, as well as your age, sex and driving record, and of course the type of vehicle you're insuring. Canstar's 2025 Car Insurance Star Ratings and Awards is based on the analysis of over 67,000 full comprehensive policy quotes for both new and used cars in a range of scenarios, and with a state-specific target excesses ranging from $800 to $1000. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The data shows that, on average, Victorians pay the most for their comprehensive car insurance, at $2940 per annum. They have also been hit with the biggest annual increase, with premiums rising by an average of $225 or 8.3 per cent year-on-year. When it comes to driver types, mature drivers experienced the biggest price hikes, with an average increase of 6.5 per cent in their comprehensive cover over the past year. But the highest car insurance prices overall continue to be paid by young male drivers under 25, who face average annual premiums exceeding $3000 because their higher accident rates make them a greater risk for insurers. Canstar says someone paying an average premium of $2226 who switches to one of its top-rated policies could potentially save up to $692 or 31.1 per cent in one year, while drivers who switch to a five-star rated policy in Victoria stand to save more than those in any other state – $967 or 32.9 per cent on average. In terms of driver types, it's families who stand to save the most (more than $1000) by switching to a five-star policy as rated by Canstar, followed closely by young male drivers. "This year's premium increases might not have been as steep as previous years for many drivers, but a 5.8 per cent hike isn't exactly easy to swallow," said Canstar's data insights director Sally Tindall. "One of the biggest mistakes drivers can make is viewing their annual renewal notice as a tick and flick exercise. Instead, your notice should be seen as a reminder to do a quick comparison. "Our research shows drivers taking out a new policy can potentially save $692 by switching from an average priced premium to a Canstar top-rated one. That's an average saving – those who have copped price hikes from their insurer for years could stand to save even more." Based on the 51 products it examined from 43 insurers as part of its 2025 Car Insurance Ratings and Awards, Canstar identified six providers that offered outstanding value to Australian drivers both nationally and by state/territory, based on a comprehensive comparison of price and policy features. It also nominated one that offered the highest claims satisfaction and claims features nationwide. Outstanding Value Award: Bingle, Budget Direct, ING, ROLLiN' Insurance, Virgin MoneyQLD, NSW, VIC, TAS, SA: ROLLiN' InsuranceWestern Australia: BingleNorthern Territory: Australia PostMost Satisfied Customers Car Insurance Claims: RAA "When shopping around for insurance, price is important, however, it's not necessarily about getting the lowest price policy in town. You want to be looking for value for money, that is, a decent level of cover at a competitive price," continued Ms Tindall. "The research team at Canstar has compared an astonishing 67,000 quotes across 43 different providers, assessing both the cost and what's included for each one to help drivers identify good-value options. "There are also other ways to reduce your premium, like increasing your excess, removing additional drivers who no longer use the car and maintaining a clean driving record. "It's also worth checking if your insurer offers discounts for infrequent and safe drivers. For example, ROLLiN' Insurance uses a 'Safe 'n' Save' app that assesses things like a driver's acceleration and braking with a discount of up to 15 per cent on offer based on your score. "For people on an ultra-tight budget, the temptation might be to ditch their comprehensive insurance altogether, however, a quick check could potentially see you keep your insurance, with a higher level of cover at a lower price – all in one simple switch." Content originally sourced from: New data published by Canstar shows car insurance premiums have increased by 5.8 per cent or $122 this year – up from an average annual fee of $2104 in 2024 to $2226 in 2025. While that's a much smaller increase than the 30.5 per cent average price hike in 2024, insurance premiums vary significantly depending on the state or territory in which you live, as well as your age, sex and driving record, and of course the type of vehicle you're insuring. Canstar's 2025 Car Insurance Star Ratings and Awards is based on the analysis of over 67,000 full comprehensive policy quotes for both new and used cars in a range of scenarios, and with a state-specific target excesses ranging from $800 to $1000. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. The data shows that, on average, Victorians pay the most for their comprehensive car insurance, at $2940 per annum. They have also been hit with the biggest annual increase, with premiums rising by an average of $225 or 8.3 per cent year-on-year. When it comes to driver types, mature drivers experienced the biggest price hikes, with an average increase of 6.5 per cent in their comprehensive cover over the past year. But the highest car insurance prices overall continue to be paid by young male drivers under 25, who face average annual premiums exceeding $3000 because their higher accident rates make them a greater risk for insurers. Canstar says someone paying an average premium of $2226 who switches to one of its top-rated policies could potentially save up to $692 or 31.1 per cent in one year, while drivers who switch to a five-star rated policy in Victoria stand to save more than those in any other state – $967 or 32.9 per cent on average. In terms of driver types, it's families who stand to save the most (more than $1000) by switching to a five-star policy as rated by Canstar, followed closely by young male drivers. "This year's premium increases might not have been as steep as previous years for many drivers, but a 5.8 per cent hike isn't exactly easy to swallow," said Canstar's data insights director Sally Tindall. "One of the biggest mistakes drivers can make is viewing their annual renewal notice as a tick and flick exercise. Instead, your notice should be seen as a reminder to do a quick comparison. "Our research shows drivers taking out a new policy can potentially save $692 by switching from an average priced premium to a Canstar top-rated one. That's an average saving – those who have copped price hikes from their insurer for years could stand to save even more." Based on the 51 products it examined from 43 insurers as part of its 2025 Car Insurance Ratings and Awards, Canstar identified six providers that offered outstanding value to Australian drivers both nationally and by state/territory, based on a comprehensive comparison of price and policy features. It also nominated one that offered the highest claims satisfaction and claims features nationwide. Outstanding Value Award: Bingle, Budget Direct, ING, ROLLiN' Insurance, Virgin MoneyQLD, NSW, VIC, TAS, SA: ROLLiN' InsuranceWestern Australia: BingleNorthern Territory: Australia PostMost Satisfied Customers Car Insurance Claims: RAA "When shopping around for insurance, price is important, however, it's not necessarily about getting the lowest price policy in town. You want to be looking for value for money, that is, a decent level of cover at a competitive price," continued Ms Tindall. "The research team at Canstar has compared an astonishing 67,000 quotes across 43 different providers, assessing both the cost and what's included for each one to help drivers identify good-value options. "There are also other ways to reduce your premium, like increasing your excess, removing additional drivers who no longer use the car and maintaining a clean driving record. "It's also worth checking if your insurer offers discounts for infrequent and safe drivers. For example, ROLLiN' Insurance uses a 'Safe 'n' Save' app that assesses things like a driver's acceleration and braking with a discount of up to 15 per cent on offer based on your score. "For people on an ultra-tight budget, the temptation might be to ditch their comprehensive insurance altogether, however, a quick check could potentially see you keep your insurance, with a higher level of cover at a lower price – all in one simple switch." Content originally sourced from:
Courier-Mail
2 days ago
- Business
- Courier-Mail
Parents on property ladder worry kids won't make it
Kate and Simon Dobbie are counting their blessings they were able to get into the Brisbane property market in the early 2000s, but worry how their children will ever afford a home. The couple bought their first home in Mitchelton 18 years ago and have just listed their current home in Grange for sale. 'It was daunting at the time (being first homebuyers), but it wasn't necessarily hard,' Mrs Dobbie said. 'I was a flight attendant and my husband was a public servant. 'We managed to buy a house and still live our lives and travel. 'I don't know how first homebuyers are doing it today.' New Canstar analysis showed an income of $171,862 was needed to buy a median-priced house in Greater Brisbane in May 2025, compared to $72,628 in March 2020 — a $99,234 increase. For units, $120,490 was required today, up from $52,164 pre-pandemic. RELATED: Shark mansion devours Brisbane record 'Best house in Townsville' snapped up in a week Motocross mansion named Australia's hottest property The Dobbies sold their first home to build a house in Gaythorne and went on to sell that one to buy 145 Gracemere St, Grange, where they have lived with their two sons for the past 11 years. 'We bought a 100-year-old Queenslander that we added an extension to,' Mrs Dobbie said. 'It's got lots of character and memories, but we're never at home to make use of the big block. 'Our kids have grown up here, the neighbourhood is really good and we will be super sad to leave, but we are ready. 'There has been a lot of growth in the inner north and we want to capitalise on that growth from the last 11 years.' Mrs Dobbie said with one son likely to move out within the next couple of years, they were selling now to buy in their chosen area of Kedron and Wooloowin ahead of further price surges. 'We love the inner north and we're keen to get closer to Kedron Brooke, to my son's school, my husband's work and to Lutwyche Rd so I can commute into the city for my work,' she said. 'The prices will only go up with the Olympics coming and the predicted increases in the north (of Brisbane) are crazy.' While the hot Brisbane market should allow Mr and Mrs Dobbie to achieve a price needed to buy their next property, they were worried what their sons would face when it was their turn to buy a home. 'When I think of our children or any of our friend's children, I don't know how they will get into the market without family help,' Mrs Dobbie said. 'Brisbane is supposed to be a more affordable option than Sydney or Melbourne but prices have increased so much and with the Olympics coming up it's only going to keep increasing. 'We are just so lucky we got into the market 18 years ago.'
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
The Age
3 days ago
- Business
- The Age
Power bills got you sweating? Stay warm without spending a fortune
Real Money, a free weekly newsletter giving expert tips on how to save, invest and make the most of your money, is sent every Sunday. You're reading an excerpt − sign up to get the whole newsletter in your inbox. As I write this on a frosty Melbourne morning, the mercury has dipped below 3 degrees, prompting the ritualistic donning of black puffer jackets and a sharp spike in the number of people working from home. I've heard it's also quite cold in Sydney but, frankly, whatever goes on north of the Murray River is none of my business. Scientists have also discovered that cold weather is often associated with thoughts such as 'oh my god I'm never going to be warm again' and 'can I do everything I need to get do today from bed?' It can also see many of us crank our heating up to ridiculous levels, which is great for short-term relief but bad from a power bill perspective. This is especially problematic for those of us with large or poorly insulated houses (so, basically, all of us, as 80 per cent of Australian houses have a two star or less energy rating). What's the problem? To make matters worse, energy prices are on the up. Power prices are set to rise by up to 9.7 per cent in NSW and 5 per cent in Victoria from July 1, after the market regulator announced its latest round of annual price setting. These rises are just an estimate too, as calculations by Canstar show that over the past six years, 67 per cent of the actual prices ended up higher than the proposed price. All in all, it's shaping up as a bad year to be cold. What you can do about it So if the chill is creeping a little too much for your liking (and it's only June!), here are some moves you can make: Shop around: You can put on as many jumpers as you like, or stack on three more blankets, but nothing will save you as much money as jumping ship to a new energy retailer. Comparison expert at iSelect, Sophie Ryan, says everyone should get on the front foot now and check how your current energy offer stacks up – including what your service and supply fees are. 'While power prices may be higher across the board and will increase further for many homes from July 1, there are still differences between retailers and plans, and even a small price difference could make a big difference to a quarterly energy bill,' she says. It's a common misconception (and something that I ramble on about all the time) that loyalty pays, but it doesn't. Your energy provider owes you nothing, and vice versa, so if another one is offering a better deal (even if it's just a one-off for new customers), go get it. The government even has a free, independent energy price comparing tool which you can access here.
News.com.au
4 days ago
- Business
- News.com.au
Why the Bank of Mum and Dad is now a necessity
Parental wealth is fast becoming the secret weapon of first-home buyers, with family help now the difference between getting a home loan approved or being locked out for good. With house prices and required incomes surging beyond what most young Australians can save alone, property insiders say the 'Bank of Mum and Dad' is no longer a bonus, it's a necessity. Canstar research director Sally Tindall said the divide between those with family backing and those without was widening at speed. 'First-home buyers today aren't just up against high prices, they're up against time,' Ms Tindall said. 'Those with family support can move quickly. Those without it are constantly playing catch-up.' Ms Tindall added that many parents were now treating housing help as an investment in their kids' future. 'For some families, it's not just a gift, it's a strategic decision,' she said. 'They want to give their children a head start, knowing how hard it is to build equity from scratch.' Prominent Melbourne buyers' advocate Cate Bakos said she had seen adult children move back in with parents to aggressively save, while others were leaning on their families for emotional resilience as much as money. 'There's often an unspoken pressure,' Ms Bakos said. 'Some buyers don't want to ask for help, but they feel like it's their only option.' 'We're working with families as a unit now — it's no longer just about the buyer.' Ms Bakos said in many cases, parents were attending inspections and auctions, acting as sounding boards and unofficial advisers. Zippy Financial principal broker Louisa Sanghera said one of the most common trends was partial deposits, where parents might match whatever their children could save. 'We see parents say, 'If you save $50,000, we'll match it', it becomes a partnership,' Ms Sanghera said. 'That kind of leverage can mean the difference between winning an auction or walking away.' Ms Sanghera added that buyers were often borrowing at the absolute edge of their serviceability range, so any reduction in upfront cost was hugely helpful. 'We're not just talking about first-home buyers in their 20s,' she said. 'Some clients are in their mid-30s or even 40s, and they're still needing help. 'That's how hard it's become to enter the market.'
