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ACCC finds northern Australian insurance costs soaring, recommends industry regulation By Jane Bardon Sue Shearer says the cost of insuring her Darwin home has steadily risen for years.(ABC News: Jane Bardon) Like many northern Australians, Sue Shearer has watched the cost of her home and contents insurance soar with dismay. Key points: An ACCC inquiry has found more and more people in northern Australia are going without insurance The watchdog says average home insurance premiums in the region rose by 178 per cent over a decade Its report has recommended a series of regulations to make the industry more consumer friendly

"It just keeps going up and up. It's exorbitant actually," she said.

Yearly building insurance price hikes have pushed up her body corporate fees, in a unit complex where many of the residents are pensioners or self-funded retirees.

Ms S…

Lifting the lid on home insurance price gouging By Joel Gibson Ever noticed how you can compare the price of electricity plans at government or commercial comparison websites easily but not home and car insurance plans? There are various websites that enable you to compare the prices and features of mortgages, credit cards and health insurance, too. Professor Allan Fels has lifted the lid on opaque insurance pricing.CREDIT:STEVEN SIEWERT NBN and mobile phone plans? Easy. Even petrol prices are collected and published in some states. But car and home insurance? To shop around and compare more than a handful, you must go to the websites of individual providers and get quotes by yourself. Insurance pricing is a "black box", and the industry has fought hard to keep it that way. It says comparison websites lead consumers to make bad choices because they are too focused on price and, if we all bought insurance based on price, it would be a disaste…