Territorians talk insurance cost ahead of election

Territorians are facing the decision of whether they pay for extra security or not, amid soaring insurance costs. Read what a couple of Palmerston locals said.

Rachael O’Doherty says her insurance costs - both at home and at work - have increased. Picture: Harry Brill.

Amid rising insurance costs, Territorians are feeling the squeeze of paying for extra security, with some forced to forego financial cover to make ends meet.

On Wednesday, the NT News spoke to shoppers at Palmerston to learn how some locals were faring.

Long-term resident Rachael O’Doherty revealed the slow and painful upward trajectory of her insurance premiums.

“Home insurance, car insurance, insurance on our rental property - it’s all gone up,” she said.

“It’s been a slow increase by an overall 10 per cent.”

With kids to feed and bills to pay, Ms O’Doherty said her family was feeling the flow-on effects of expensive insurance.

“Shopping and groceries we’ve definitely felt,” she said.

“We’re lucky because we’ve got solar panels - that is a big difference that would make things a lot worse.”

Insurance costs across the nation are being felt, including in the Northern Territory.

Ms O’Doherty made a point that home and car insurance were not the only battlegrounds being fought, however.

“I’m a manager at a shop here in Palmerston and our costs have gone up 10 per cent there too,” she said.

“It’s always been dearer living here in the Territory because we’re remote, prices can be set and there’s no competition.”

Her biggest concern, however, was not the short-term pain from financial hurdles she and her husband faced, but for her children.

“I am certainly (worried for) my kids.”

Fellow Territory resident Shannon Gabel, 36, revealed he had abandoned insurance due to its “massive price tag”.

“It was really hard to stay on top of insurance years ago anyway - but nowadays it would be impossible,” he said.

“With costs already so high to run a car, pay the bills and what not, insurance is kind of the last kick in the guts.”