Further inflation caused by government action/inaction.
Just got my latest insurance bill yesterday. Base premium up 16.3%; Earthquake Levy up 60%; GST up 22.7%. Overall an increase of 22.7%. When will it end.
Now costing nearly $50 per week. Has probably gone up by roughly 100% over last few years. Worse still there has been no increase in risk where I live.
Is it any wonder so many people chose not to insure. Trouble is they then expect us to subsidise them.
On another level insurance companies have made mega-bucks over the years (Billions if not Trillions) so I have to wonder how they can justify such increases.
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