Climate change is set to impact on areas of Noosa through insurance rises going through the roof.
Climate change is set to impact on areas of Noosa through insurance rises going through the roof.

Why we’re headed for the climate insurance ‘red zone’

NOOSA is squarely in the climate change red zone with predictions of half the properties in Noosaville being uninsurable by 2050 due to rising sea levels.

Overall the Sunshine Coast, "uninsurability" will more than double to nearly 40,000 addresses by the end of the century.

In Noosaville, 48 per cent or 4288 of 8,932 addresses will be potentially 'uninsurable' by 2050 with this expected to rise to 70.3 per cent or 6,282 addresses by 2100.

This extreme weather financial forecasts published by the ABC are the work of climate risk analyst Karl Mallon who runs Climate Risk and predicts the number of "uninsurable" addresses in Australia is projected to double by the turn of the century to nearly 720,000.

The figures have drawn fire from local climate change sceptics on social media, attracting almost 100 comments. but Cooroy community activist Rod Ritchie is backing the dire outlook and Noosa Council's climate emergency declaration

"The sooner we pressure all governments to take this issue seriously, the greater the chance we have of avoiding the worst effects," Mr Ritchie said.

However John King posted his view locally that this was "a scam" or just " another fearmongering forecast this time with a price.

"Can't rip the people off with the failed Co2 taxes so slug 'em with insurance hikes," he said.

Mr Ritchie's replied: "There's no scam. This is a reality check for us all.

"Noosa has the potential to go from over tourism to under tourism within the next 20 or 30 years. Let's get a plan.

"Let's support a council that is trying to do something," he said.

By comparison the forecast finds Sunshine Beach, with its high dunal lay out will have a zero uninsurable properties even by 2100.

Here are the local forecasts:

Noosa Heads

In Noosa Heads, 17.3 per cent or 1127 of 6,503 addresses will be potentially 'uninsurable' by 2050. This will rise to 24.1 per cent or 1566 addresses by 2100. The average annual premium in Noosa Heads is projected to rise by 26.3 per cent by 2050 and 84 per cent by 2100.

Noosaville

The average annual premium in Noosaville is projected to rise by 14.7 per cent by 2050 and 78.4 per cent by 2100. This puts the premium for a property that costs $300,000 to replace at $11,220 in 2050, making it effectively uninsurable. In 2100 the premium would cost $17,430. This puts the premium for a property that costs $300,000 to replace at $4260 in 2050, making it effectively uninsurable. In 2100 the premium would cost $6210, keeping it effectively uninsurable.

Tewantin

In Tewantin, 16.7 per cent - or 1,023 of 6111 addresses - will be potentially 'uninsurable' by 2050. This will rise to 25.5 per cent or 1559 addresses - by 2100. The average annual premium in Tewantin is projected to rise by 14.9 per cent by 2050 and 54.6 per cent by 2100.

This puts the premium for a property that costs $300,000 to replace at $4860 in 2050, making it effectively uninsurable. In 2100 the premium would cost $6,510, keeping it effectively uninsurable.

Peregian

In Peregian Beach, 3.8 per cent or 129 of 3406 addresses will be potentially 'uninsurable' by 2050. This will rise to 7.3 per cent or 250 addresses by 2100.

The average annual premium in Peregian Beach is projected to rise by 9.3 per cent by 2050 and 95.5 per cent by 2100. This puts the premium for a property that costs $300,000 to replace at $1,650 in 2050, making it very expensive compared to other areas. In 2100 the premium would cost $2970, keeping it very expensive.

Sunshine

In Sunshine Beach, 0 per cert or 0 of 2689 addresses will be potentially 'uninsurable' by 2050. This will stay at 0 per cent by 2100.

The average annual premium in Sunshine Beach is projected to rise by 25.3 per cent by 2050 and 40.8 per cent by 2100.


How these Coast kids are giving outback families fresh hope

How these Coast kids are giving outback families fresh hope

Peregian school kids help the outback in extreme time of need.

Last Sound Feast for 2019

Last Sound Feast for 2019

This is the last Sound Feast event for the year at The J, so don’t miss out.

Five things to do this week

Five things to do this week

Looking for something to do this week in Noosa? From classic cars to Sunday session...