Insurance blowouts for low lying shire properties

Who said Council's coastal management policies won't affect property values or insurance costs? A Beagle reader just received a quote from NRMA insurance for home cover: $6530 of which $4911 was for"flood, rainwater run off and storm surge" even though my block is level, behind a high sand dune and has never been flooded in anyone's living memory. When they checked why this was so, the website said: "This premium is based on how likely it is your property will be affected by flood, rainwater run-off or storm surge.

"We use data from many sources to determine your risk. These include the National Flood Insurance Database, hydrology and terrain mapping, council mapping and claims information."

The council has decided to declare most of the Broulee area a flood zone! Many of the people who live in these low lying areas are fixed income pensioners, and just able to afford these sort of premiums. The question being asked is "What are you going to do about it Councillors and Mr Constance?" Below are two examples of premiums that have seen a massive spike due to the property being shown on Council maps as potentially exposed to storm surge. Have a look at you premiums if you are in Hanging Rock, Surfside, Tomakin, Broulee, Narooma, Dalmeny or anywhere low lying by Council's definition - if you see a massive spike please send us a copy (we will obliterate details that identify you and your property (policy numbers remain so that Council/Member can verify the quote as true and correct)

Above: Two insurance policies that clearly show a massive spike in premiums due to the properties now being listed in council mapping. In all this most likely affects 6000 properties in the shire.

#latest #Council #Opinion #Broulee #Narooma


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