Caravan Park charging too much? Here's something to keep in mind.

Submitted: Monday, Aug 29, 2011 at 10:26
ThreadID: 88749 Views:3436 Replies:2 FollowUps:0
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This was on ABC Far North this morning. This of course applies not only to CP's but to every business in this region. So next time you feel you're being charged too much, it may well be the Insurance company who has their hands in your pocket.

Van parks feel soaring costs of cyclone insurance
Josh Bavas
Updated August 29, 2011 09:43:33
Map: Townsville
Caravanning Queensland says insurance is becoming prohibitive for park managers in cyclone-prone regions.
The average insurance excess for caravan parks north of Rockhampton has increased from $5,000 to $100,000 since Cyclone Yasi.
Caravanning Queensland spokesman Quentin Fletcher says the only other option is paying 25 per cent more for annual premiums.
"It's a serious worry for people in the industry," he said.
"If you have a cyclone and you get clobbered and you're up for the first $120,000, $150,000 - who's got 150 grand?
"You're cactus, you're gone."
Mr Fletcher says there is only a handful of companies willing to cover those regions after Cyclone Yasi.
"There is light at the end of the tunnel in as far as there's another underwriter and broker that's setting up," he said.
"Their premiums are going to be about 20 to 25 per cent more than we've been currently paying, with the excesses coming down to a more realistic figure."
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Reply By: Member - Vince M (NSW) - Monday, Aug 29, 2011 at 13:24

Monday, Aug 29, 2011 at 13:24
when I was in Darwin 2 years ago one caravan park would not let me Check in as it was after 6pm (6.15pm) as he's Insurance would not cover him if there was an accident. Checked us in next morning no problems

After the 2001 Xmas fires in Huskisson NSW, my factory insurance went from $5000.00 a year to $15000.00 & my original Insurer gave notice that they would not cover the premises & when I built it I worked with them so there would be no problems, (I was the only building left standing in my street & I had very little damage,)

So many business have & are closing due to the ridiculous insurance rates
AnswerID: 463788

Reply By: Rob! - Monday, Aug 29, 2011 at 14:19

Monday, Aug 29, 2011 at 14:19
They still don't mention the cost of their insurance cover, which may or may not be significant.
AnswerID: 463790

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