MAIB premium reduction to save Tasmanians money

Michael Ferguson,Minister for Infrastructure and Transport

Tasmanian motorists will this year benefit from a 4 per cent general decrease to premiums, which reflects ongoing safety improvements on our roads, increased education campaigns, as well as enforcement activities.

This means that for a standard car, this year’s decrease translates to the annual MAIB premium being less than it was back in 2001, with Tasmanian premiums now 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, 2020, the highest premium for a standard vehicle in Australia was $561, compared to Tasmania’s current premium of $282.

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 4 per cent reduction in premiums follows the good news in December 2019 of no premium increases.

MAIB is to be congratulated for this fantastic outcome for Tasmanian drivers and families, in what has been an extremely difficult year for everyone.

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