I don't comprehensively insure my car. It's 15 years old. If I did, the agreed value would be something like $2000... Seems a waste to pay an extra $3-400 in insurance for it. They recover a bit from me with a higher CTP though. Can't beat the bastards :(
$22,000 makes quite a bit of sense when you figure most people replace their cars every 5 years or so.
Lets say $20,000 per car every 5 years.... Thats $6,400 per year in depreciation (assuming $4,000 scrap value each). Most people spend quite a bit more on their cars than that.
Petrol... say $3500 per year per car = $7,000
Rego + CTP + Insurance = say $1,300 per car = $2,600 (much more if you have teen drivers)
Annual Car service + repairs say average $500 per year per car for arguments sake ($1,000)
So we are at $17,000 before you factor in tolls, parking, dare I mention it speeding fines, parking tickets etc. They also added in the cost of your licence renewal.
Then add in public transport usage.
I can see how it all adds up.
Now in order to pay $22,000 a year, the average person needs to earn over $34,000 pre tax!
It's all very ridiculous.