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The NRMA quoted over $30k a year for insurance for my house, GIO $3k (AAMI etc much the same $3k). Guess which I chose?We have been helping a friend look for a new house. She has a two bedroom unit and was looking for a three bedroom house. A place that would have suited was going at quite a good price. New paint and new carpets. Yes it's in a flood zone, anyway we thought we would go for a drive and have a look for her. The house looked ok but the giveaway was all the vacant houses in the street. I talked to our neighbour who has lived in Ipswich all his life. At first it was not considered liveable because of the flooding. However the developers were able to get the council to agree after the Wivenhoe dam was built. Only problem with that was Wivenhoe had never been the problem in this area, it was the local creek that flooded. So these poor people are left with houses that would cost too much to insure. After the last floods in February someone who had been flooded in another suburb was asked if he was insured. His answer was no as it would cost him $25,000 a year to insure his house. Some people who live in that area still haven't been paid out for the 2011 floods.
They need to start buying back houses on the flood plain and never develop there again. They have started doing it here in Queensland and it’s probably about time.The NRMA quoted over $30k a year for insurance for my house, GIO $3k (AAMI etc much the same $3k). Guess which I chose?
$30k buys a lot of carpet and wood flooring.