Suncorp has started offering homeowners in cyclone-prone north Queensland premium discounts of up to 20% for undertaking mitigation work.

The “cyclone resilience benefit” – part of Suncorp’s Protecting the North initiative – is available in Rockhampton and communities along the coast such as Mackay, Townsville and Cairns. It was announced in April last year.

Owners of pre-1980s houses, which are deemed most at risk, can earn up to $600 off a $3000 premium if the full range of improvements are undertaken, such as fixing old roofs and covering windows.

“Prevention is always better than cure, and mitigation is better than rebuilding and recovering,” Suncorp Insurance CEO Anthony Day said.

“More mitigation would help drive great community benefits such as keeping people safe, creating jobs and growing the economy.”

Suncorp and other major insurers say mitigation is the most effective way of addressing premium affordability in cyclone-prone areas.

“There’s a growing chorus of inquiries calling for a greater mitigation effort, and we should be acting now rather than waiting for another cyclone to hit,” Mr Day said.

“That way, we can start reducing now the $10 billion annual damage bill that natural disasters are expected to cost Australia by 2023.”

RACQ Insurance introduced a similar scheme last month in north Queensland, offering discounts of up to 20% from the cyclone premium component of home and contents policies.