Homeowners insurance rates spike following last year’s bushfires

Tasmania Brushfires homeowners insurance

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,…

Read More

Homeowners insurance claims in Australia rising quickly from bushfires

widlfire homeowners fire Insurance

These wildfires have already brought about claims that have broken the $96 million mark, so far. According to the Insurance Council of Australia (ICA), there have already been more than 900 business, auto, property, and homeowners insurance claims with insurers in Australia, and that this has brought about a loss of over $96 million ($100 million Australian), so far. It is believed that there are more claims that will be filed with each passing day for the next while. A spokesperson for the ICA, Campbell Fuller, explained that assessors for…

Read More