Cheaper Insurance Locked In For Tasmanians
Tasmanians will pay less for insurance under a new State-owned insurance company, TasInsure.
Premier Jeremy Rockliff has announced a major reform to help Tasmanian families and small businesses with rising insurance costs, unveiling plans to establish TasInsure: a Tasmanian Insurer focused on fairness, affordability, and local protection.
TasInsure will offer affordable insurance for home, contents, small business, community groups and events, and regional insurance.
“There is no doubt the national market has failed Tasmanians. Insurance is becoming unaffordable in too many parts of our State,” Premier Rockliff said.
“For too long, Tasmanians have been paying sky-high premiums because they are paying mainland prices to cover mainland insurance claims, or worse, they are being told they simply can’t be covered.
“Tasmanians are rightly sick of having to pay higher premiums for mainland payouts and profits.
“That’s why we’re stepping in with a Tasmanian solution, one that puts people ahead of profits.
“Under a re-elected Liberal Government, Tasmanians will be able to access state-backed insurance at Tasmanian prices.
“Under TasInsure, whether you are a family, a farmer, a community group, event organiser, or a small business – you will be protected, paying Tasmanian prices.”
Australian Insurance firms raked in over $6 billion in profits last year alone.
Insurance premiums in Tasmania have risen by more than 35% in just two years, with many households being hit even harder. Some small businesses are now unable to get essential cover, leaving them exposed and at risk of closure.
MAIB, in comparison, has seen premiums rise by just 5%.
Under TasInsure, Tasmanian households will save $250 and small businesses 20%.
“TasInsure will give Tasmanians peace of mind. Whether you’re a family trying to protect your home or a small business keeping your doors open, you deserve access to fair and reliable insurance,” Premier Rockliff said.
TasInsure will operate in conjunction with MAIB, utilising the strong MAIB balance sheet to establish the business. It will not impact compulsory motor insurance premiums.
Initial products offered by TasInsure will include:
“Tasmanians work hard to build their homes and livelihoods. TasInsure will ensure they can protect them, with a trusted, local insurer that understands our communities and stands by them,” Premier Rockliff said.
“It will be cheaper, fairer, ours.”
https://tas.liberal.org.au/news/2025/07/02/cheaper-insurance-locked-tasmanians