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Over and over again, we see the devastating impacts upon families of our storm and bushfire season. Especially upon those who have little or no insurance.

These are the families, who endure the misfortune of a freak-of-nature event, or in some cases, an intentionally lit bush fire, only to come out the other side with little or no insurance on their property and belongings.

We all know that thought – the odds of it happening to us are small – of not even conceiving that a freak storm could see that tree impaling your house; the neighbour’s pool overflowing from rainfall and ruining your backyard landscaping project; a house fire next door jumping ship to yours … On and on goes the list of unexpected bad things that do happen to good people.

The financial cost of repairing your home and life following one of these events is immense, but given that Insurance Council of Australia statistics show that across the country 3.8 per cent, or about 201,000, of all owner-occupied houses are not insured, the added emotional and mental costs of a loss can be amplified for some.

So, that’s the scary bit. Now to the good news: Insurance. Yeah, that’s the good news! We love to hate it – kind of like banks – but it is entirely necessary to any sound investment strategy: we’re talking to you owner-occupiers as well as landlords.

Whether you are an owner-occupier or landlord, most people view their property/properties as their primary investment vehicle. And it is investment lesson 101, that you insure your assets.

The problem with insurance often comes down to affordability. But that’s not the question you should be asking yourself. What you need to ask yourself is this: If I lose my home or investment property to storm or fire damage, how would I continue to repay that debt, given I no longer have a home or tenants to pay rent?


It’s true. The chances of these types of events happening to us are very small. But the impacts of these events would be – and are – devastating to many families who roll the dice and play the odds to not insure their property.

So dear property owners and landlords, consider the price you would pay if you didn’t insure your greatest asset and you lost it. It makes paying that annual, or better still, monthly premium cost seem so much more achievable.

And if cost is an issue, shop around. Spend a couple of hours of your life getting a better deal and rest-well each night, knowing you would recover if a bad thing happened to your good family.

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Hicks Real Estate is a Brisbane based, full-service real estate agency supporting buyers and sell as well as renters and property investors. With almost 20 years experience in the local market, we are the real estate experts you can rely upon.