Post #2789736

Thanks all for the pointers and comments :) Things appear to not be quite as dire as I thought. Jen called around a bunch of insurers today and we got some much more reasonable quotes for similar coverage. Our normal broker who's been excellent and been able to find us lots of options previously didn't have access to as much as we thought, so I guess it always pays to shop around, even for brokers who's job it is to find good quotes! And yeah, the bank has an insurer of last resort, which is not great for the mortgagee, but also in our case has a retail insurer which was reasonable. We're now insured for $1mil rebuild costs at $5500 for the year, instead of the $9000 from the original quote which was only $750k rebuild cost. An interesting/scary tidbit from that research is that only central city suburbs in Tasmania are outside the bushfire risk areas. The suburbs even we can't afford to buy into.