The Insurance Council of Australia (ICA) has backed a government move to improve the resilience of older homes against cyclones in North Queensland’s cyclone belt.
The Palaszczuk government's $20m Household Resilience Program was designed to assist owners of pre-1984 homes in coastal parts of Queensland to improve the safety and resilience of their properties, which may also help reduce their home-insurance premiums.
“The insurance industry supports this initiative,” ICA CEO Rob Whelan said. “Homes strengthened through the program could potentially place homeowners in a position to negotiate a reduction in their future building insurance premiums.”
The peak industry body is urging owners of pre-1984 homes, located up to 50km from the coast between Bundaberg and Cooktown, to check if they're eligible for the program by visiting www.qld.gov.au/strongerhomes.
“If this initiative can reduce the stress of homeowners in cyclone-prone areas just a little and also reduce the pressure on premiums, then it’s a program that should be supported and promoted,” Whelan said. “The program is an example of how governments can work to improve the resilience of homes and communities in disaster-prone regions. The ICA encourages governments at all levels to appreciate the importance of mitigation investment.”
