Kathmandu. Car insurance has become a matter of headache for the people of Australia. The number of Australians cancelling car insurance due to high premiums and the financial pressure it poses has also increased sharply in recent years.

According to the Finder survey, about 22 Skin Australians have either canceled car insurance or are taking low coverage policies. According to the Finder survey, 5 percent of the participants said that they had canceled their car insurance and given a policy of 7 percent less coverage.

During the investigation, 7 percent of the participants said that despite the high cost, they had to insure the car due to third-party compulsions. “About 10 per cent of the participants said they had asked service providers to provide the same type of insurance policy that would provide all coverage,” the Finder Survey said in its report.

Finder Insurance Expert Tim Bennett said that due to increasing financial pressure, the trend of canceling car insurance is increasing on the one hand and on the other hand, the risk has increased due to lack of adequate insurance coverage. “If there is an accident in the absence of insurance coverage, the driver or the owner of the car itself may have to bear a huge financial loss,” he said.

According to the Finder Survey, 12 percent of Australians said car insurance costs were adding to their financial stress. Australians have to spend about $87 a month on car insurance. That’s equivalent to $1,044 a year. – Agency