Copyright 9news
Exclusive: Three in four Australians are worried storms, fires and floods will make their home insurance premium skyrocket in the next 12 months, according to a nine.com.au reader poll. The fresh fears come as more than half of those surveyed have already seen premiums spike because of Australia's increasingly wild weather. Of 546* readers surveyed, 53 per cent said the cost of their home insurance had jumped in the last 12 months due to weather events. READ MORE: Police give major update on horror Britain train mass stabbing Even if the floods, storms, or fires in their local area didn't affect their property. "We had a major flood and the water came on our land but did not affect us, and we made no claim," one told 9news.com.au. "But it's still costing us more because of houses around us that did flood." Only 34 per cent of respondents reported no change to their premiums. A small portion said their premiums had spiked but that they didn't know why. And some confessed their homes aren't currently insured because they can no longer afford the high premiums in a cost-of-living crisis. "I can't afford insurance and food," one said. Looking to the future, 75 per cent of respondents said they're afraid their home insurance premiums will increase in the next 12 months due to weather events. Several said they may have to forego insurance if it gets much more expensive. "Household/contents insurance has become too expensive," one said. "I have never made a claim in 65 years and my premium just keeps going up, I'm about to cancel all insurance and take a risk." And it's not just wild weather making home insurance more expensive. READ MORE: Pentagon preparing war plans after Trump threatens nation online The average Australian annual home and contents premium jumped by more than $300 over the last 12 months, rising from $2452 to $279. That's an increase of 14 per cent – and that's on the low end. In some regions, the average cost of home insurance skyrocketed by 17 per cent, or up to $700. An increase in the frequency of extreme weather events has been blamed for the spike in premiums across the country, especially in states like Queensland and NSW. READ MORE: The concerning factor believed to be behind surging house prices In September, Corrie Chabau from Logan, Queensland, told 9news his home insurance premium jumped by $1200 at his last renewal. And it could rise again based on updated flood risk mapping in his area. But Chabau said the mapping didn't accurately reflect the flood risk on his property, which he said has never flooded in the 13 years he's lived there. "The insurers go 'well, it says here that it might flood' and the premiums won't ever come down," he said at the time. "It's just going to destroy everyone." *The nine.com.au poll, which runs once a fortnight, canvases the views of the nine audience on 9Nation, which is an online community of our readers and viewers. Have you got a story? Contact reporter Maddison Leach at mleach@nine.com.au DOWNLOAD THE 9NEWS APP: Stay across all the latest in breaking news, sport, politics and the weather via our news app and get notifications sent straight to your smartphone. Available on the Apple App Store and Google Play.
