Insurance costs will reflect changes

INSURANCE companies say premiums will increase for residents affected by new changes to Gold Coast City Council flood mapping.

RACQ spokeswoman Kirsty Clinton said the flood maps, which show most of the Gold Coast covered in water during major disasters, would be considered in new policy renewals.

“We rate (risk) every time we send out a renewal,” Ms Clinton said.

“We look at the situation and make sure our figures are still correct.

“So at the next renewal the RACQ will look at it, and if it shows you are at a significantly higher flood risk the premium will go up.”

While areas of Burleigh, Palm Beach and Currumbin will be “practically undevelopable” under the new mapping, Ms Clinton said the RACQ assesses each home individually.

“It will vary, even within one street it could vary significantly,” she said.

“It also varies considering what the building is made of or whether it is high set or low set. “So if it’s a Queenslander built on stilts, it might show you’re only marginally more likely to flood.”

Burleigh MP Michael Hart said the changes would have a dramatic effect and called on the government to “prove” the increased flood area suggested by the mapping.

“If this is real then the Gold Coast City Council and the State Government should prove it to people, prove this is real, but they can’t,” Mr Hart said.

“I’m not a climate change denier but I would like to see them prove that this is worth the damage they are about to do.”

He said the changes would have a great impact on future development.