Home owners across the country say hefty increases on their home insurance premiums are 'inequitable' because they don't live on flood-prone properties.
abc.net.au/news/home-insurance-premiums-rise-outside-flood-zones/101773334Home owners across the country say hefty increases on their home insurance premiums have come as a "rude shock" because they don't live on flood-prone properties.Residents say they were told their policies are based on postcodesPremiums calculated on postcodes alone are being called "inequitable" by home owners who live kilometres from flood-risk zones but are still required to pay a higher cost.
But Mr Thomas said his building insurance, issued by Strata Community Insurance for Allianz, had still risen by more than 50 per cent — from $14,800 to more than $22,500. Kurrajong resident Liz Peers says she was told her insurance was based on the first three digits of her postcode. "I was extremely angry that it went on postcode, when I made a strategic decision when I bought this block that it wasn't in a flood or fire zone," she said.Linda Dempsey was told her car was "uninsurable".Linda Dempsey relocated from Queensland to Kooringal, a suburb in Wagga Wagga, in southern NSW, in October.
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