Halls Gap residents and businesses are grappling with shock rises in insurance premiums of up to 500 per cent while dealing with the fallout of bushfires.
Residents living near the Grampians are seeing huge increases in premiums only months after devastating bushfires.Residents are calling for people who have been impacted by disasters to be protected from further financial strain.advising her of a 500 per cent increase in her premium.
"I had hoped that it was some kind of mistake especially as it was so soon after the bushfire, and everyone was feeling quite vulnerable, emotional and sensitive," Ms Whyte said."It was purely an email that said 'your premium was overdue'," she said. Halls Gap accommodation business owner Alan Wang, who also runs a motel in Apollo Bay, said he was told the previous owners had paid $9,000 in premiums a year before he took over last August."The previous owner tried to extend for one month, and I think they increased up to $4000 ," he said.
The Insurance Council of Australia said rising insurance premiums "whether you're directly exposed to extreme weather impacts or not" was also due to many factors. "But I do think the government needs to spend some time looking at these issues that make it hard to be everyday good Australians," she said.
Insurance Insurance Premiums ANZ IAG Lisa Whyte Alan Wang Insurance Council Of Australia Policy Cost Of Living
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