Newspaper article The Daily Mercury (Mackay, Australia)

Insurance Becoming Expensive?

Newspaper article The Daily Mercury (Mackay, Australia)

Insurance Becoming Expensive?

Article excerpt

Peter

McCallum

Acting Coordinator

news@dailymercury.com.au

THERE'S no doubt that everybody loves a Queenslander.

I don't mean Johnathan Thurston, but the grand old Queensland houses with their high ceilings, wide verandas and tin roofs.

I have been lucky enough to live in several of them over the past few decades and have loved the experience.

However, that love affair began to cool a few years ago when our annual insurance premium arrived and price nearly doubled.

The shock was repeated a year later, even though we had trimmed back on all our extras.

Climate change is impacting on the family budgets of many people in Queensland right now through increased home insurance and that's especially true if you live in an older home.

Homes built prior to 1980 did not have to be built to withstand intense winds exceeding 200kmh so the insurance industry considers them a high risk and they charge higher premiums.

The same is true if your house is built in a low lying coastal area that could be inundated by storm surge, if you can find a company willing to insure you. …

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