Lake Macquarie deemed too big a gamble as homes become 'uninsurable'

HIGH RISK: Blackalls Park resident Robert Baxter has found it difficult to insure his Lake Macquarie property due to flood risks. Picture: Peter Lorimer

FOR LOCALS living on the shores of Lake Macquarie, proximity to the water is considered an asset.

But, as far as insurance companies are concerned, the risk to cover properties around parts of the lake is too high, seeing prices skyrocket or deeming homes completely uninsurable.