The number of claims for ‘theft of or from motor vehicles’ in Victoria has shown a 61.73 per cent increase in two years, compared to a smaller increase in Queensland of 18 per cent and an amazing 11.70 per cent decrease in NSW, according to insurance industry figures.
Data shows a soaring number of payouts from burglaries and car thefts in Victoria reaching $164 million, which is resulting in higher premiums for households and small businesses.
The number of claims for domestic home contents for theft and burglary in Victoria has shown a 28.4 per cent increase in the last two years, compared to a 9.2 per cent increase in Queensland and a two per cent increase in NSW. Domestic premiums during that period in Victoria have increased by 7.3 per cent over the last two years, compared to an increase of just 1.5 per cent in Queensland and 3.4 per cent in NSW. Meanwhile, motor vehicle premiums in that period in Victoria have increased by 6.14 per cent over the last two years.