A new study has found that Australians are being charged more for car insurance than other countries in the world, with car insurance rates in the US costing more than twice as much as in Australia.
The study, by the Australian Centre for Policy Research, found that in the first quarter of 2018, car insurance in the United States was being charged by more than six times as much for the same vehicle as in the Philippines.
The US was followed by Japan with three times as many car insurance quotes as the Philippines, and the United Kingdom with three-times as many.
The average cost of a new car in the U.S. in 2018 was $12,091, while in the UK it was $9,945, according to the analysis by the research group at the University of Queensland.
However, car loans in Australia were generally cheaper than in the other countries, the study found.
For instance, an average monthly payment in Australia was $5,938 in 2018, while it was a whopping $18,839 in the Netherlands, the Philippines and the US.
However a comparison of the rates paid by different countries showed that the United Arab Emirates paid more than double the rates of the United Kingdoms, Australia and the UK, the research found.
The U.K. has the highest percentage of people aged 65 and over who have had a car accident.
In the Netherlands and Australia, those aged 65 to 74 were more likely to be involved in a car crash, according the research.