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John Duffy: Consumer NZ CEO on the increasing costs of car insurance

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Owning a car is getting more and more expensive. 

Online Insurance Platform Quashed reported a 40% increase in average comprehensive and third-party quotes over the last year.  

Stats NZ is reporting a 22.6% overall. 

Consumer NZ CEO John Duffy told Mike Hosking that there’s a lot of causes behind this, but a big one is unforeseen weather events such as Cyclone Gabrielle. 

He said that insurers are seeing that that kind of event could happen again, and are updating their pricing accordingly. 

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