I've been with this insurance company for 12 years (Coles home insurance).
I had a phone call message left on my phone from a company representative telling me that unfortunately the premium has risen due to the
costs of construction, and if I had any questions to call the company to see if there is anyway to get the price down.
I had no idea that it now (apparently) cost
twice as much to build/replace a house than it did 12 months ago (I don't think that's true, but that was the excuse given).
This is just one example of inflation smashing into the savings of everyday Australians.
We have very little debt, so interest rate rises have little impact on us, but many of our bills are increasing by huge margins. Insurance, electricity, petrol, food, rates, travel, entertaiment, medical. these are taxes that you can't avoid. And they say inflation has peaked?
what's the odds I will ever see my home insurance drop back to its previous level next year or the year after?.................Zero
