ROMA hotel managers Bronwyn Bourman and Evan Patch say the little insurance they could secure to protect the Overlander Homestead Hotel against flood won't even get close to covering the estimated $800,000 repair bill.
Several feet of floodwater swept through the property last Friday, forcing the hotel managers to gut the business of its contents and start again – from scratch.
They, like many others in their position, are questioning whether their business can bounce back.
"We do have flood insurance for $250,000, but that won't be anywhere near enough," Ms Bourman told The Australian Financial Review in Roma yesterday.
She said insurance firm Zurich Financial Services was not prepared to offer more than $250,000 insurance coverage because of the location of the property.
"We use an insurance broker in northern Queensland, and we were first told that there weren't any insurance options available," Ms Bourman said. "We searched and the broker searched and that's when we finally got the $250,000 with Zurich."
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