Michael Ferguson,Minister for Infrastructure and Transport
Tasmania’s Motor Accidents Insurance Board’s (MAIB) premium remains the lowest of any state and territory scheme.
The organisation’s annual report confirms consistently low premiums continued again in 2020-21.
The Tasmanian Liberal Government is committed to reducing cost of living pressures and motorists will this year benefit from no increases to premiums, which reflects ongoing safety improvements on our roads, increased education campaigns, as well as enforcement activities.
This means that for a standard four cylinder car, the annual MAIB premium is less than it was back in 2001, with Tasmanian premiums remaining the cheapest in Australia.
This is despite the MAIB scheme providing arguably the best overall no-fault benefits to those injured through motor vehicle crashes, as well as achieving consistently high client satisfaction.
As at July 1, 2021, the highest premium for a standard four cylinder vehicle in Australia was well over $800, compared to Tasmania’s current premium of $564.51.
The organisation’s consistently low premiums assists in cost of living pressures, as well as ensuring those that are injured in crashes are provided appropriate care and support, on a no fault basis.
MAIB is well positioned in terms of its long-term financial position, while consistently providing strong returns to Government.
This year’s result follows the good news from last year where we saw a four per cent decrease in MAIB premiums.
MAIB is once again to be congratulated on this excellent outcome for Tasmanian drivers and families.
