Home insurance should be compulsory

Yesterday was a day of commemoration for the victims of the recent bushfire tragedy in Australia. Thousands have been left homeless and the death toll is now over 200 and rising. As a result of this tragedy there will be a Royal Commission to investigate the events and also to see how we can mitigate future losses in this country which is always prone to either floods or bushfires.

This occasion is doubly tragic because while one large part of Australai is experiencing serious floods, the southern part has had the worst bushfires in our history. And sadly, there are more to come.

While bushfires and extreme weather are inevitable in Australia, I was dismayed by the number of destroyed houses which were not insured. One often hears in the news that a family’s home was uninsured and they have to start from scratch. What is really annoying is that during the TV interview the victims are seen puffing on a cigarette. With the price of cigarettes, I’m amazed they are still smoking instead of having protected their assets.

I simply can’t understand how someone would buy a home and then decide not to insure it. The home is usually the most expensive asset they own and yet they don’t place insurance at the top of their list of priorities. This is irresponsible.

My argument is that home insurance should be compulsory. It should be part of the deal and if you can’t afford to buy it, you had better not buy a home. In my opinion, one can’t afford NOT to be protected.

I don’t think that it is the role of government to supply a new home for people who have not insured their homes, nor should our heartstrings be tugged by sad stories about losing everything while not being insured. When we buy a car we have to pay for third party insurance and it should be the same for homes. Surely one’s home is more precious than one’s car.

It’s once again that unfortunate attitude of “She’ll be right, mate,” which permeates parts of our culture. Well, the truth is, even though you hope that she’ll be right mate, she often isn’t, and then you’re up the proverbial creek without a paddle.


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