Albury too risky, says insurer

ALBURY, Wangaratta and Benalla are among at least 10 Border and North East towns that have been shunned by an Australian insurer because of natural disaster fears.

Calliden Group, which recently acquired Australian Unity, will not even offer a quote for home insurance in the three major centres because of flood concerns.

At least another five North East towns have been deemed an unacceptable bushfire risk.

Among them is Beechworth where Calliden said more than 50 per cent of properties had a high exposure risk to bushfire.

Quotes are available for homes in Holbrook, which has been struck by flash-flooding twice since 2010.

Meanwhile it doesn’t matter if you live on a the top of a hill in Albury, the insurance company won’t offer new insurance to your home because of flood dangers.

However spokesman Mike Hooten said the company would still offer renewals for existing policies.

“While there are a number of properties located on hills in Albury there are a number of homes in the low-lying areas that increase the proportion of flood exposed areas beyond a threshold we are prepared to accept,” Mr Hooton said yesterday.

He said that Calliden would review its position as data was updated.

The company would endeavour to make decisions on an individual householder level.

The company has drawn on the National Flood Information Database and its own modelling to determine which towns it continues to cover for flood damage.