The weakened Australian dollar may be helping the economy when it comes to tourism, education and agricultural exports, but it is also making it more expensive to repair your car.
Suncorp chief executive Michael Cameron says the falling dollar has bumped up the cost of the insurance giant's motor claims.
The cost of motor parts has increased nine per cent over 18 months, Mr Cameron said, contributing to the 16 per cent fall in first half profit Suncorp announced on Thursday.
"We saw a steady increase in the cost of parts as the Australian dollar continued to weaken," Mr Cameron said.
"The biggest contributor to motor cost increases is parts, which make up about half of a repair cost."
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The Australian dollar has fallen by about 25 per cent against its US counterpart since August 2014, also pushing up the cost of materials for home repairs.
Suncorp said it will bring down the cost of vehicle repairs by performing more of them through its own facilities.
"We are on track to repair over 150,000 cars in our own network this year," Mr Cameron said.
"In 2017, this increases to 170,000 or over 40 per cent of our total repairs."
