Feb 01

Insurance Embargo

I noticed a piece in the paper today about insurers not insuring anyone at the moment. Just thought I’d share my personal experience…my girlfriend and I purchased a property last week (so I guess the property market is now set for a significant fall) and even though the contract is not unconditional yet we are still liable so insurance is required.

The property was unaffected by the floods but when i called my employer to request insurance they asked me the postcode and then replied, ‘No, we are not insuring properties in that postcode given the floods’.

Now perhaps I’m a little harsh but given half of this postcode is on the side of Mt Cootha it appears a little narrow minded and easy business is being lost. Anyway, I called a competitor and they said ‘yes but you’re not covered for flood’…’no problem’, I replied.

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