[LISTEN] Motoring: What were you paying for insurance 20 years ago?
While the value of some vehicles continues to multiply year on year, motorists appear to be getting a good deal on the price of insurance.
Motoring journalist Ciro De Siena takes a look at why this is.
I suspect that the factors at play is that there are a lot more cars on the road and insurance is a numbers game and I think it is a volume game rather than a high margin sort of industry.Ciro De Siena, Motoring Journalist
Of course there is a lot of competition in the market as well for car insurance and I think it is kind of a race to the bottom, in the sense that if you are car insurance company A and I am company B and I can offer a slightly lower quote, you try and beat me and eventually the customer gets the best deal.Ciro De Siena, Motoring Journalist
Click on the link below to listen to the full conversation...
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