After the 2012 floods in Queensland we are hit with a levy for flood damage in Queensland by the federal government. I lost a house in the same year because of floods. I have to pay! My mate who didn't get flooded is now hit with flood levy on his insurance policy and then there is the NSW flood levy on top of this again. My premiums for another property in Gundagai has gone from $300 to $1920 and it sits high on a gently sloping hill (figure that one out). Yes the insurance industry does not pay the full payout required and then cry's poor and gets a government handout in the form of a levy to pay for the damage done. People who were killed do not get to claim!!!!
Lets give more money to overseas countries and to people who come here as aliens. Sorry invaders. I worked for the benefits that I get and I see others who come to this country get the same benefits and who haven't put a dime into the system and they get more than I do.
The system is going to collapse and I will end up with nothing and even my houses will be taken from me by this generous government. I will survive but a lot will not. The greedy top es halons will demand more before its all over.
My advise is to save cash for the times ahead.
The chances of your house burning down is one in a million or there abouts. My advise for insurance is to opt out as payments will be slimmer in the future.
If you own nothing the opt out of all insurance.