Research from Youi car insurance confirms that Queenslanders have had an expensive start to the new financial year.
(1888PressRelease) September 22, 2009 - The first quarter of the new financial year has been expensive for Queensland car owners. The fuel tax subsidy has been discontinued, CTP has increased 13 per cent in the last year and motor vehicle registration has increased 20 per cent.
Research conducted by Youi on a national basis has also discovered that many people have experienced increases in their comprehensive car insurance.
27 per cent of customers surveyed stated their insurance premiums increased by more than 10 per cent since last year. A further 18 per cent advised their increase was between 5 and 10 per cent.
More than one third of all customers surveyed were unaware how much their premium had increased. Only 22 per cent noted their premium increase was less than 5 per cent.
Hugo Schreuder CEO of Youi car insurance said, “If you believe your car insurance premium has increased, now would seem the perfect time to shop around for an insurance cover that best suits you at the right price.”
Youi recognises that more than ever before, Queenslanders are using publictransport to commute to work and are also working from home in their efforts to counter the rising cost of fuel. This means more cars are likely to be parked at home or at the train station. By considering where a car is parked mostly during the day and what the car is used for, Youi are able to provide a more individually tailored insurance policy for every customer.
“People use their cars differently. Using simple factors such as a person’s commuting to work behaviour or parking habits can have a big impact on insurance premiums. Shopping around for an insurance policy that is better suited to your car usage, may help many people to balance their household budgets and assist in combating against the spiralling cost of car ownership,” says Mr Schreuder.
Methodology
Youi conducts online surveys of customers via its website. Data collected from 970 responses across June and July 2009.
About Youi Pty Ltd
Youi is an Australian incorporated company authorised and regulated by the Australian Prudential Regulation Authority and holds an Australian Financial Services Licence (316 511). Youi underwrites its own products and is part of the FirstRand Limited group of companies. FirstRand is a large integrated financial services provider operating in the US, the UK, Africa and South America as well as Australia and New Zealand.
Youi is a member of the Insurance Council of Australia and is a signatory to the General Insurance Code of Practice. Youi is also a member company of the Financial Ombudsman Service (FOS) and is bound by their Terms of Reference when handling customer disputes.
Research from Youi car insurance confirms that Queenslanders have had an expensive start to the new financial year. 
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