Allianz insurance dramatically increases for Maryborough homeowner

A Maryborough family has been rocked and shocked by a massive increase in home insurance they say is simply ‘unaffordable’.

When a Fraser Coast mother-of-two was sent her renewal notice for home insurance in July she “felt sick” after seeing the staggering increase in cost.

From one bill to the next, Maryborough mum Emma-Lee Lawson’s home insurance with Allianz skyrocketed nearly eight times in price, from $1966 a year to $16,418 a year.

“It’s unaffordable really,” Ms Lawson said.

Ms Lawson built her new home just outside of Maryborough in 2021, and has lived there with her two children for 12 months.

The floods of 2022 did not reach her home and she has never made a claim on her home insurance.

But when she received her renewal notice recently, it was eight times higher than last year’s.

After speaking with Allianz about the dramatic increase, Ms Lawson said it was suggested to remove flood cover to reduce the cost.

Emma-Lee Lawson’s home insurance has skyrocketed to nearly eight times the price than it was in 2021. Photo: Contributed.

Maryborough was devastated by flooding events in January 2022, with thousands left stranded after major bridges were cut due to the height of the Mary River.

In May 2022, the penstock gate was also installed in the Maryborough CBD, amid concerns the city would flood again as a result of heavy rainfall.

For Ms Lawson, flood cover is something she wants to keep.

“I feel like if I wasn’t to have it, that the worst would happen...” she said.

“So basically you are then left with no cover, and if the worst did happen, you’re even in a worse situation with no home.”

She said she was the only person paying off the home loan.

“I don’t want to be in a situation where I can’t put a roof over our heads,” she said.

Being in a high risk area, Ms Lawson said she understood there had to be an increase in insurance premiums so she could make a claim in the future if needed, but would like to see the cost of policies relaxed.

“As customers we’re paying all the time, whether we claim it or not,” she said.

Emma-Lee Lawson has lived in her brand new home just outside Maryborough for 12 months. Photo: Contributed.

Ms Lawson posted about her higher bill to Facebook, drawing some comments from the community.

One comment read, “I’m with Allianz to, and have not been told of any changes” while another read, “What? That’s bloody robbery”.

Others encouraged her to find other insurance companies and compare costs.

Ms Lawson said she has made inquiries with other insurance companies who had quoted her $4000- $5000, but she has not yet decided on a new provider.

An Allianz spokesperson said the insurance company “acknowledges that the cost of flood cover can be expensive for flood risk properties”.

“Allianz recently undertook a comprehensive national review of its flood premiums based on updated government flood maps, data and flood risk modelling,” a spokesperson said.

“For most customers, this resulted in no change or a modest increase in flood premiums.

“In some areas, however, including some areas of the Fraser Coast, the updated flood modelling indicated a much higher flood risk than previously.

“Allianz continues to work with governments at all levels on initiatives to make property insurance more affordable, especially for homeowners vulnerable to flood, in particular, the abolition of State Government insurance taxes.”