Insurers refuse Brisbane flood cover
Some Brisbane homeowners are living in properties not insured for flood damage because they can't get cover while others living close to the river or in areas that have flooded in the past are paying additional premiums of up to $1,000.
About 1 per cent of homeowners who apply for flood insurance have their applications refused. Some companies refuse to even look at applications.
RACQ Insurance says it does insure homeowners for flooding but it looks at each case individually. Suncorp Metway has two types of flood insurance, one for flash-flooding which is automatic with a Suncorp policy and the other for “riverine flooding” when a river rises over several days. People have to pay extra for this cover. NRMA Insurance says it has never provided flood cover. A spokeswoman said the company “believed flood was a community issue, not only an insurance issue”.