Territory Stories

The Northern Territory news Mon 11 Sep 2017



The Northern Territory news Mon 11 Sep 2017

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NT news


The Northern Territory news; NewspaperNT




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Community newspapers -- Northern Territory -- Darwin; Australian newspapers -- Northern Territory -- Darwin

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News Corp Australia

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Copyright. Made available by the publisher under licence.

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News Corp Australia



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08 NEWS MONDAY SEPTEMBER 11 2017 NTNE01Z01MA - V1 TERRITORY homeowners are dramatically underestimating the rising values of their houses and belongings, putting themselves at risk of a painful insurance sting. As storms, floods, fires and earthquakes make headlines across the world, research group Canstar has found that four out of 10 Australians with home and contents insurance have less than $350,000 of total cover, while average national values are more than double this. Almost 80 per cent of those people feel they have enough to cover their home and contents if their home is totally destroyed, it found. Finance specialists say homeowners are failing to account for the costs of rebuilding and demolition, or the surge in expensive technology items in homes in recent years. I would be very confident in saying people are massively underinsured, said Canstar group executive financial services Steve Mickenbecker. Its the replacement value Female cyclists in Darwin, such as Jannette Jackson and Jackie Clausen, ride bikes more than women in other parts of the country TERRITORY women are pedalling their way to the top, with statistically more female riders in the NT than in any other state. The annual Super Tuesday bike count, conducted by the Bicycle Network, found one in three riders across Australia are women, with an almost even ratio of male to female riders in the Northern Territory. Initial results found Alice Springs led the way in female participation, with 40 per cent of riders being women across six count sites. Preliminary data in Darwin from 10 of 51 sites revealed 27 per cent of riders were women. Count volunteer Emma Host said confidence on the bike was one of the biggest hurdles for women. Riding requires us to be confident about balancing our bikes, sharing the road with cars and navigating between pedestrians in order to be safe riders, she said. Cyclists Jannette Jackson and Jackie Clausen were encouraged by the results, and hoped it would encourage more women to pick up a bike. Its empowering. You feel strong, Ms Jackson said. Learning to ride a bike properly and knowing what to do with it will fill you with confidence, Ms Clausen said. Bicycle Networks Super Tuesday data will be used to help investment in cycling infrastructure in communities. RAPHAELLA SAROUKOS More women riders in NT than elsewhere Open to disaster ANTHONY KEANE of the home and $350,000 doesnt get very far in this day and age, he said. They insured for an era when the fridge and the TV were the expensive items, and would be underestimating just how much electronic stuff is in the home today. The median value of all dwellings in Australia ranges from $383,000 in Hobart to $910,000 in Sydney. While home and contents insurance doesnt have to cover land values, it does have to pay for demolition, rebuilding and replacing all items. Consumer finance specialist Lisa Montgomery said many people did not think they would ever suffer a total loss of property, and guessed the level of cover they might need. So many households are amped up tech-wise, she said. We have not just one flat screen TV but a number of them. We have a number of computers within the house, and it all costs money. Ms Montgomery said many companies had online calculators to help people estimate the value of their assets.