Kris Faafoi: Insurance Council CEO on the rise in people switching to third-party car insurance due to costs

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Recorded13 Feb 2025

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Rising premiums are pushing more people into considering third party car insurance. The average quote for comprehensive car insurance on comparison website Quashed has increased 41 percent in the past two years. Insurance Council CEO Kris Faafoi says newer cars have more technology attached to them - which contributes to the rising insurance costs. "It depends on the individual situation - the cost of the car, who's driving it, where you're parking it, where you are. These are all factors, but it became more expensive to insure them because fixing them is more complex." LISTEN ABOVESee omnystudio.com/listener for privacy information.

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