RESIDENTS are outraged that their insurance housing premiums have increased by hundreds of dollars in the aftermath of 2011’s Christmas Day storms.
Keilor pensioner Nick Bubevich said his annual house insurance had climbed almost $200. Mr Bubevich, 67, had almost $10,000 worth of damage to his garage, roof tiles and gutters following the storm.
“I still have builders trying to fix my home. We struggle to make ends meet as it is. It’s out of reach for many low-income families and pensioners in the area.”
An ICA spokesman said each insurer had its own method of calculating premiums based on factors including government flood mapping and land surveys, historical data, claim frequency, risk and weather forecasts.
