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Cutting your home insurance might save you money, but it could be extremely risky.

Australia is nearing an insurance crisis. And it’s only getting worse

Many face an impossible choice – protect the home they love in case the worst happens, or go underinsured as a result of ever-increasing premium costs.

  • Victoria Devine

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BRISBANE, AUSTRALIA - MARCH 09: Flooded cars at Edmondstone Street in the suburb of Newmarket on March 09, 2025 in Brisbane, Australia. Australia’s east coast is experiencing severe weather as ex-Tropical Cyclone Alfred moves south. While downgraded from cyclone status, the weather system continues to bring damaging winds, heavy rainfall, and flash flooding, particularly in the Gold Coast and northern NSW regions. Authorities have issued severe weather warnings, and coastal areas remain at risk of significant erosion and hazardous surf conditions. Residents are urged to stay updated on local warnings, avoid floodwaters, and prepare for ongoing disruptions. (Photo by Albert Perez/Getty Images)

Hailstorms, cyclones prompt multibillion-dollar claims

Extreme weather events cost $3.5 billion in insured losses as hailstorms lashed Australia in 2025, more than five times higher than the previous year.

  • Grace Crivellaro
Residential construction in Melbourne.

Scheme to stamp out home building defects in Victoria delayed 14 years

A registration and licensing scheme for building trades was due for completion in 2020. But it could now be delayed as far as 2034.

  • Rachel Eddie
David Hall’s inspections include thermal imaging and moisture testing. Some inspectors do visual-only assessments.

The shocking truth about home inspections costing buyers millions

Red flags are rising around pre-purchase home inspections amid inadequate reports, real estate agent manipulation and a lack of inspector qualifications or standards.

  • Nigel Gladstone
The housing industry has warned Treasurer Jim Chalmers that high interest rates and rapidly rising costs are crushing the pipeline for new homes.

Insurance premiums have soared in Perth. See what your suburb pays

Industry figures suggest home owners in one Perth suburb are paying double thanks to one particular risk.

  • Holly Thompson
An aerial view of the Taree floods in May 2025.

Extreme weather costs Australia more than any other rich country, bar one

Floods, bushfires and storms have cost in economic and insured losses every decade since 1980, the insurance industry says.

  • Caitlin Fitzsimmons
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Brisbane has some of the highest average insurance premiums in the country.

See how Brisbane insurance premiums have soared in your suburb

Check how your premium compares with other suburbs, and where insurers are pricing up the risks of floods and storms.

  • Marissa Calligeros
This tree fell onto a restaurant in the Brisbane suburb of Teneriffe during Cyclone Alfred.

Surge in wild weather claims threatens insurance as we know it

One major insurer has received 32,000 claims for wild-weather-related damage to both vehicles and property between January and May this year, more than for the whole of last year.

  • Caitlin Fitzsimmons and Nick O'Malley
Workers at a Suburban Rail Loop construction site in Heatherton.

New charge for Victoria’s state-backed insurer of Suburban Rail Loop

The government is raising a “capital management” fee to help bring its Victorian Managed Insurance Authority back to financial health.

  • Kieran Rooney
Storms like those in Victoria ate into Suncorp’s insurance earnings.

The maps that show how climate change is driving up the cost of insuring Melbourne homes

Check how your insurance premium compares with other suburbs, and where insurers are pricing up the risks of bushfires and floods the most.

  • Bianca Hall