When to shop around for better flood insurance ahead of third La Niña
With the devastation of February’s flood disaster still fresh in their minds, Queenslanders are being told to prepare for another wet summer.
There are warnings the cost of home insurance policies will rise when new flood mapping is published on the Brisbane City Council website.
Head of General Insurance at Compare the Market, Stephen Zeller says it’s important to shop around ahead of the arrival of a third consecutive La Niña event.
“It won’t matter when you’ve actually been impacted by flooding previously or you’re in an area that’s unlikely to be impacted by flooding,” he told Sofie Formica.
“What we’re seeing is that everyone’s insurance premium is going up.
“Getting your renewal notice is the absolute perfect time to shop around and compare your policy.”
Press PLAY below to hear how embargo periods will make policy changes difficult
Image: 9News
