Why Australia is facing a ‘devastating insurance crisis’ this summer

A national property firm has warned that Australia is facing a “devastating insurance crisis” as this summers triple-dip La Nina threatens to financially ruin underinsured homeowners. MCG Quantity Surveyors, which has offices in Brisbane, Sydney, Melbourne, Newcastle, Adelaide, Perth and Canberra, said that a combination of factors could lead to “one of most financially devastating”…

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The Danger in Errors in Property Insurance

I love a good pub trivia quiz. A few guesses, a few beers, and a catch up with mates. Unfortunately some people apply the same method to working out their property insurance. A bit of a guess, maybe some tips from a valuer, and possibly even an online calculator. The truth is, there’s a bit…

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David Lost Everything A Real Life Case Study

Underinsurance is a real problem for many Australians. Very real. Let’s face it. How do you really know if your assessment of the current building replacement value of your property is accurate? David, a property owner and business owner, thought that his insurance cover was appropriate.  At the very least he thought it would be…

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Percentage Of Home Owners That Have No Insurance At All

If there’s one silver lining out of the arduous lockdowns experienced during COVID, it’s that the rate of house break-ins has dropped. As painful as they have been, stay-at-home orders have correlated with an average 37% reduction in crime around the world, according to an international study endorsed by the University of Queensland. It’s a…

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Wrapping up the year with Data, Dance Floors, and Depreciation

2019 in review

Our year started on a high, coming off the back of a massive win for MCG. Landing a position on the Financial Review’s top 100 of fastest-growing businesses, we hit the ground running! Mike Mortlock and Mitch Ford completed their much-anticipated triathlon, with over $2k raised for Heartkids, a charity helping those affected by congenital…

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Bushfires & Floods – The cost of a Natural Disaster to home owners

Natural Disasters

Australian Research In 2000, the Construction Data division of Reed Business Information Systems (Reed) surveyed 1000 randomly selected homeowners. They concluded that: 87% of homes were under-insured by any amount The average level of under-insurance was 34% In 2002, the Insurance Council of Australia conducted a survey of seven companies sharing 80% of the home…

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Tax Depreciation Calculators – Is there merit in the estimates?

Depreciation Calculator

Google is telling us that more and more people are searching for a ‘tax depreciation calculator’. Admittedly, this search ranked well below the top 2016 result of ‘US Election’ and even a few million short of number 6 ‘Pokemon Go’. Putting the self-deprecating Quantity Surveyor stuff to the side for a moment, searching for an…

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Combined Capital City Dwelling Values up, led by Sydney & Melbourne

City Dwelling

Sydney and Melbourne continue to post strong results, showing a consistent 1% growth per month in dwelling values, with the sum of regional areas relatively flat. In Sydney and Melbourne, cumulative growth in dwelling values over the cycle (June 2012 to date) now stands at 64% in Sydney and 44% in Melbourne.This result highlights the…

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