Brisbane homeowner Sophie Mitropoulos argues against rise in insurance premiums

·

Sophie Mitropoulos, 61, a public servant from the Brisbane riverside suburb of Balmoral, has seen her insurance premium go from $1,189 to over $5,000 in just five years – including a staggering 54 per cent increase between 2022 and 2023.

These figures are consistent with industry data supplied to the ABC, which suggest that in the most flood-prone locations, rates for home insurance are normally set at roughly 4% of the home’s value, while contents insurance is broadly set at 13% of the total insured.

Sophie Mitropoulos has seen her insurance premium go from $1,189 to more than $5,000 in just five years.(ABC News: Christopher Gillette
Sophie Mitropoulos has seen her insurance premium go from $1,189 to more than $5,000 in just five years. Photo: ABC News/Christopher Gillette.

According to ABC News, Mitropoulos argues that because her property is constructed on stilts with nothing beneath, she should not be required to pay more just because other homes in the vicinity are more prone to flood damage.

“I think honestly it would be disastrous for lower income people and it would get to a point where we just cannot afford insurance at all,” Mitropoulos says.

“If I get flooded [in a house] on two-metre stilts, the whole suburb is under.”

Insurers and local communities alike are aware of which houses are most vulnerable to floods, and with enough effort and persistence, resulting property damage can, more often than not, be prevented.

Source: ABC News

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

George Karlaftis on a quest for a third straight Super Bowl

George Karlaftis is no stranger to success. At 23, he has already won two Super Bowls and is now chasing a historic third straight title.

From Sydney to San Sebastián: 10,700 kilometers of passion for PAOK

Among the more than 2,000 PAOK fans who traveled to San Sebastián for the match against Sociedad, one supporter stood out for his journey.

Decree issued for crematorium in Thessaloniki

Thessaloniki is set to become home to Greece’s second crematorium following the official publication of a presidential decree.

Athens airport to become Europe’s first fully green-powered hub

Athens International Airport is on track to become the first in Europe to rely entirely on renewable energy.

Who are more polite on the road: Australian or Cypriot drivers?

A recent study has ranked Australian drivers among the most courteous in the world, but Cyprus took the top spot.

You May Also Like

Modern Greek language program at Northcote High School at risk of being discontinued

Northcote High School's Modern Greek language is at risk of being discontinued due to the low number of students taking the subject.

GOC Welfare Department to host seminar teaching important financial advice

The Greek Orthodox Community of NSW (GOCNSW) is set to organise a seminar that will see financial advisors impart important advice.

Baby rescued on Tilos island after being stranded for days

A 50-day-old refugee baby was rescued on Sunday, August 18 after being stranded for three days on the Greek island of Tilos.