A survey from iSelect made in December of last year showed tat one in six Australians are unhappy with their insurance coverage, leaving them to find a new policy. About one in four was considered completely dropped their coverage, will have no coverage for the year 2015. Those which are considered to give up their insurance policies say that they will do so to save money, as coverage has become too expensive to be considered useful.The penalty tax may be less expensive than premium paymentSoon may be less expensive for Australian consumers to pay tax penalties for not having insurance rather than pay for their insurance. Moreover, consumers are also very dissatisfied with some of the largest insurers in the country, with many believing that the conversion to a for-profit insurance company going to their best advantage. If insurance premiums continue to grow, this could become the case, can become a significant problem for insurance companies in the country.
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