If You Don't Live Near The Bush, You Could Pay Less For Home Insurance
Living near the bush can be very rewarding ... the sound of birds singing in the morning, the fresh air, the feeling of freedom when you step out of your back door and there are no neighbours to see your various states of dress/undress or hear you talking to yourself! Just as with everything in life, though, where there are risks there are also rewards. Living near the bush puts you at risk of being the victim of a bushfire. While this can be offset by sensible planning and routine maintenance, it still means that people near wooded areas have a greater risk of claiming on their insurance policies. If you go with a standard insurer, you'll pay just as much whether you enjoy the benefits of the bush or not! New concepts in home and contents insurance are starting to arise, though - and if you don't live near the bush, you could now be paying less for your home insurance.
Greenbelts and their contribution to insurance premiums
People who live fully surrounded by bush are becoming few and far between. However, people that live adjacent to bush are not so rare. The concept of creating tracts of undeveloped land in urban areas has plenty of benefits; environmentally, socially and mentally. However large, bushy areas also increase fire risk. There are tracts of undeveloped land throughout our metropolitan areas in Australia. Notable ones include:
The city of Adelaide, which is completely surrounded by the Adelaide Parklands
The Warrandyte area in Victoria is earmarked as a greenbelt.
Many major cities, including Melbourne, Adelaide, Bundaberg and Rockhampton retain their botanical gardens within the city centre.
Dunedin's town tracts of undeveloped land are among the oldest in the world - close to Australia, though not within our borders.
Tracts of undeveloped land are a town planning essential - they are not going away! However the people that live close to them are at greatly increased risk of bushfire.
Calculating standard insurance premiums
Ordinary insurers average out the risk of bushfire in your suburb based on your postcode. If you have a large tract of undeveloped land bordering your suburb or running through it, everyone pays for it in their insurance premiums. Yet only the people that live close to the bush (within around 200m) are at increased risk of property damage from bushfire. Doesn't seem fair, does it?!
Bushfire mapping
There has been plenty of research and statistical analysis done with regard to bushfire risk. In fact, most state and territory governments publish their bushfire risk mapping efforts online - so it is not difficult to get an accurate picture of risk levels for an exact address. The South Australian and Queensland government's bushfire risk mapping is readily available online, and home and contents insurance agencies can also use historical data to more accurately assess individual risk. Unfortunately, in the interests of keeping things simple, many insurers simply don't ask! Next time you face an odd question on a home insurance quote form, be glad. You've finally found someone that truly adheres to the 'user-pays' ideals, and doesn't charge you for benefits somebody else enjoys.
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