Revealed – Tasmanians pay the lowest third-party vehicle insurance in Australia

Tasmanians continue to pay the lowest third-party vehicle insurance in Australia, Michael Ferguson, Minister for Infrastructure and Transport, has revealed.

Compulsory third-party vehicle insurance premiums in Tasmania, through the Motor Accident Insurance Board (MAIB), are still the lowest across the country as the state did not experience general premium increases in 2021-22, retaining the premium for a standard motor vehicle at $282, compared to the highest state at $591.

This is despite Tasmania providing arguably the most generous level of benefits to injured motorists and being one of only three states offering full no-fault benefits,” Minister Ferguson said.

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Despite the uncertainties and challenges presented by the COVID-19 pandemic and volatility in global investment markets, the MAIB continued to maintain its service provision to maximise the continuity of care for clients and preserve the long-term sustainability of its scheme – boasting a high client satisfaction rating of 81%.

“During the 2021-22 financial year, the MAIB supported 1,923 people involved in motor vehicle accidents. This is a welcome reduction from the previous year, with 240 fewer people injured on Tasmanian roads, continuing a downward trend,” Minister Ferguson said.

“In 2021-22, the MAIB provided more than $4.7 million to a wide range of community, government, and other organisations primarily focused on efforts to improve road safety and motor accident outcomes, including a $4 million contribution to the education and enforcement strategies of the Road Safety Advisory Council (RSAC),” he added. “Other supported activities include funding regional high schools to provide all-terrain vehicle training, sponsorship of brain injury disability-related charities, and regional school driver educational programs.”