Media Release

Member for Kennedy Bob Katter will approach the ACCC to investigate the hike in insurance premiums for Far Northern residents, who are paying considerably more than those in south-east Qld.

Quotes obtained from three leading insurers this week showed that Mareeba residents were paying up to 50 per cent more for home and contents coverage than those in a family suburb of Brisbane, while Innisfail residents were paying more again.

“The insurers will come out and say they have to cover the cyclone risk. But the southeast has increased flooding – how is that different?” Mr Katter said.

“Mareeba proves the outrageous nature of these increases, as it as suffered negligible cyclone or flood damage in the last 50 years, compared to Brisbane.

“Yet Mareeba residents are paying $500 more for their premiums than people in Brisbane; whilst many other FNQ residents – including Innisfail – are paying even more.

“In one case, the quote in Innisfail was $1200 higher than for an identical property in Brisbane.”

The quotes were based on an average-sized block home with $200,000 coverage and $50,000 contents.

“My office has been inundated with calls from residents complaining about insurance hikes.

“One person told us that insurance for her Wangan property had doubled in three years. Others are reporting hikes of 30 per cent or more this year.

“People up here are already struggling with the cost of living. To unfairly place further strain on families through insurance premiums is simply callous.

“We are determined that the ACCC, APRA and Insurance Ombudsman will be acting on this matter.”