The cost of coverage has soared in Tasmania after the massive disaster of last summer. The massive bushfires in Tasmania that made headlines throughout the summer season, last year, are now having an impact – quite a dramatic one, in fact – on the prices that are being paid for homeowners insurance coverage. Property owners in the Tasmanian region are now seeing considerable increases at the start of this summer. In fact, the homeowners insurance premiums in Tasmania are now rising far higher than people in Western Australia and Victoria,…
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Homeowners insurance in Australia may see considerable increases
Some areas are being seen as higher risks for flooding, fires, and drought, among other perils. Australia is now experiencing some of the most fierce and extreme weather and natural events that have ever been recorded, causing many homeowners insurance customers to ask themselves whether they should expect to pay higher premiums in order to compensate from the increasing risks. The current summer in the country has been one of the most damaging single seasons on record. Many of the areas in the country faced scorching temperatures throughout the summer…
Read MoreInsurance news from Australia shows surprising spending of disaster payouts
Many victims are using their funds to help to pay their vet bills for pet care. A recent insurance news report has shown that the disaster emergency fund payments are being spent in ways that were not expected, as data indicates that thousands of policyholders are spending half of the money they collect on veterinary bills. The statistics were collected through cumulative figures generated by emergency fund debit card use. In order to help disaster victims as quickly as possible, the insurance news reported, insurers have been issuing debit cards…
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