Aussie insurers have been predicting the value of a car insurance policy for years, and they’re now getting more accurate predictions as the country looks to become the safest nation in the world.
Read moreThe Australian Bureau of Statistics says that in 2021, Aussie insurance premiums will be $1,735 per person, which is expected to rise to $2,080 by 2031.
A number of factors could also make that cheaper than US insurance companies would recommend, such as the Australian government’s decision to allow insurers to cover up to 25 per cent of the cost of accidents in the US, the ABS said.
The new ABS data comes as Aussie car insurers and other insurers begin to offer auto insurance to more and more drivers.
More and more Australians are getting car insurance coverage, according the ABS, which said that a large majority of Aussies now have coverage.
It was only last year that the Australian Government began offering car insurance for all Aussys, but since then, the number of Aussie drivers with insurance has increased from 1.7 million to 2.4 million.
This year, more than 1.3 million Aussis have car insurance, up from just over 400,000 in 2019.
There are more than 500,000 Australian citizens who have car coverage, and this will rise to 600,000 by 2021.
These Australians have been living in Australia for a very long time, and their driver’s insurance policy is helping them to manage their car insurance costs.
But the ABS is predicting that in the next 10 years, insurance companies will no longer cover more than 25 per, percent of the costs of car accidents, meaning that car insurance premiums would have to increase by an average of 20 per cent to cover the cost.
However, that is unlikely to happen, and the ABS expects that insurance companies are unlikely to increase their rates significantly.
Even if insurance companies increase their rate significantly, it’s likely that Australians would not see their premiums rise significantly, since insurance companies cover most of the expenses of a new driver.
In fact, the average Australian car insurance rate will still remain around US$250 per month for new drivers, according a recent survey by insurer KPMG.
If the ABS’s predictions are correct, then in 2021 Australia will become the third safest nation on the planet.
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