The Forum > General Discussion > Flood insurance
Flood insurance
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I think you will find they did address this, it's just that there assessments were incorrect.
Now, as for insurance, or, lack of, those who are having thier claims rejected must now ask themselves why thier premiums from these insurance providors where so much cheaper than say 'Suncorp'!
Unfortunately, you pretty much get what you pay for.
Now as for rebuilding in these areas, I say no.
Then these land owners should be compensated to the amount which 'THEY PAID' not for what they were valued at pre flood and, if the inherited the property, then that's bad luck cause they are not really out of pocket anyway. You can't claim for something you didn't pay for, can you!
Now if they borrowed against the increased value, then they either have to carry that debt, or, sell down the assett/s that were aquired using this equity. Now if these borrowing were for toys/holidays, then that's bad luck!