16 Nov 2019
CAITLAN CHARLES caitlan.charles@dailymercury.com.au
INSURANCE industry representatives have assured North Queensland they will not be left behind amid heated debate over the cost of insurance in the region.
Queensland-based company Sure Insurance has reinforced its commitment in regional Queensland.
Managing director Bradley Heath said there was a home insurance price “crisis”, with average premiums across the region soaring to exorbitant and unaffordable levels over the past decade.
“That’s why we established Sure Insurance – a specialist regional Queensland insurer focused exclusively on delivering affordable cover to enable the region’s householders to access insurance,” Mr Heath said.
Gardian insurance broker Luke Phillips said strata premiums were the main issue in the region.
“Most of the capacity for strata is already taken up down south,” Mr Phillips said.
“North Queensland already has its higher rates because of catastrophe ratings.”
He added that companies, like Sure Insurance, were already addressing the issue.
Mr Heath said Sure Insurance understood that regional Queensland was prone to extreme weather events and believed incentivising customers to make homes more resilient would assist in reducing premiums.
“We know things are tough for regional Queenslanders and Sure Insurance is proud to have already delivered average savings per customer of about 30 per cent on home insurance across North Queensland, which is more than $1200 a year.”
Further information contact Mike Sopinski on 0421 052 598.