News

Flood insurance hike

INSURANCE companies have come under fire for increasing flood premiums to exorbitant amounts, despite no change in local government flood risk data to justify the increases.

One Whiporie resident was shocked to learn her flood insurance premium had increased by more than $14,000 per year.

Dianne Daniel, who owns a home in between Casino and Grafton, said she burst into laughter when she received her Allianz insurance policy in August and saw the flood cover had increased from $215.64 per year to $14,584.92 - more than a 6000% increase.

"Once I read it I just burst into laughter because I thought it was a computer error," she said.

"I rang them up and the first person I spoke to said, 'Yeah, that doesn't sound right'.

"He talked to supervisors and rang me back and said, 'Look I'm sorry, that's what it is'."

At $14,584.92, the cost of Ms Daniel's flood insurance has swelled to higher levels than the water ever could.

The figure seems even more astronomical when you consider Ms Daniel's flood insurance was a mere $21.80 two years ago.

"We're on the age pension, so even if we wanted to, there's no way known we could afford to pay that," she said.

Her neighbours, Nancy Lowery and Brian Phillips, who have lived in the area for more than 80 years, said there has never been a flood that would come close to affecting Ms Daniel's house.

The Insurance Council of Australia said many insurance companies rely on data from its National Flood Information Database to assess the flood risks.

Topics:  flood insurance, floods, insurance premiums




Acquittal on five DV-related charges

Grafton CourthousePhoto Adam Hourigan / The Daily Examiner

Jury finds defendent not guilty after three day trial

Li Garden wins the popular vote

Danny and Tania Li, from Li Garden, who won the Daily Examiner poll for the best Chinese in Grafton.

Li Garden has been voted number one by the locals.

Opinion: To SRV or not to SRV

Craig Howe.

One option for making ends meet

Latest deals and offers

Tom Hiddleston's Instagram account hacked

Actor Tom Hiddleston

Thor star the latest celebrity targetted by hackers

Charlize Theron's son dresses up as Frozen character

Actor Charlize Theron

Star's son spotted dressed a beloved Frozen character

BOOKS: Food for thought in Caroline Beecham's latest novel

Maggie's Kitchen by Caroline Beecham is published by Allen & Unwin, RRP $29.99.

New novel reminds readers that bravery exists in many forms

TELEVISION: New show is a Survivor, for now

Jonathan LaPaglia hosts the TV series Australian Survivor.

WHAT happens when a new show with a big budget flops?

Troy Cassar-Daley announces extra concerts

TCD

Two concerts in Clarence Valley in 2017

Rachel Weisz understands celebrity gossip fascination

Actor Rachel Weisz

Weisz says mystery is good for an actor

REVEALED: Pat Rafter's $18m Coast house on the market

Check out the photos of the Coast's most expensive property for sale

The "correction we had to have" in Gladstone's rentals

UPWARD MARCH: The rental vacancy rate in Gladstone has improved for the first time in more than a year, providing a confidence boost in the market.

Vacancy rates improve with signs that things are getting betterF

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

Investors eye Gladstone's $4m island with resort approval

UP FOR SALE: Turtle Island is on the market.

CHINESE and Sydney investors flag interest in Gladstone island.

Take a sneak peek at this $19m Whitsunday mansion

Mandalay House features a private helipad.

Mandalay is currently on the market with an asking price of $19m