The recent Northern NSW and South East QLD storms, which in many places are still ongoing, have been devastating, causing loss of life and suffering.
To date, there have been over 10,000 claims lodged with insurers for the recent storms. Although insurers have staff and assessors on the ground in the key areas, organising builders and materials is likely to take time.
Below are some tips and key points to help lodge a claim and organise the clean-up and repairs.
Safety is The Priority
Only return to your property when emergency services give the go-ahead.
If water has entered the property, don’t turn on your electricity until it has been inspected by an electrician.
Contact your insurer as soon as possible
If you have been impacted, call your insurer and let them know of the loss and damage. Even if you don’t know the extent of the damage, this can ensure your insurer is aware, and they can start the claims process and arrange an assessment of the home, business or motor vehicle.
Don’t worry if you can’t find your insurance policy documents. The insurers can locate the policy on their system using your information.
Vulnerable Customers
Let your insurer and insurance advisers know if you have any of the following as they can provide additional assistance:
A disability including mental health;
Subject to family violence;
Language or literacy issues;
Financial distress;
Live in a remote location or indigenous.
Cleaning Up
Once you have safe access back to your property, take photos of everything before moving anything or cleaning. These photos can be evidence for your insurer, making it easier for them to see what damage occurred and ensure you receive an adequate claim.
Management Liability insurance is designed to provide protection to both the business and its directors or officers for claims of wrongful acts in the management of the business.
A business insurance pack can provide cover for your business premises and contents, against loss, damage, theft or financial loss from an insured interruption to the business.
Purchase up to six products under one Business Insurance Package.
Once you have safe access back to your property, take photos of everything before moving anything or cleaning. These photos can be evidence for your insurer, making it easier for them to see what damage occurred and ensure you receive an adequate claim.
Make a list of each damaged item with a detailed description (brand, serial number, etc.); this will help with the claims process.
Storm and flood-damaged carpets and soft furnishings can be disposed of as they are likely to cause a health risk. Keep samples of the fabric for the assessor.
Other items such as business books and records should be kept for the assessor to view before being disposed of.
Roof and Property Repairs
Speak to your insurer before starting any repairs and building work as they need to be approved by your insurer. Insurers can organise builders who can assess the damage and commence repairs, whether the property is a home or business.
Make safe or emergency repairs to prevent injury or further property damage, such as fitting tarpaulins or removing tree branches. Again, the insurer will need to be informed as soon as possible of the reasons.
Insurance Claims Process
The claims process for home and business insurance customers is as follows:
Confirm the insurance policy covers the loss or damage;
Confirm if the customer is a vulnerable person;
Arrange for an assessment of the loss or damage;
If building works are required, arrange a builder to provide a quote and written scope of the works;
Agree on the repairs with the customer;
For other items, such as furnishings, computers and stock, agree on the replacement or repair;
Cash settlement can be agreed upon in some cases.
For more information, you can read the Insurance Council of Australia’s FAQ
Flood Insurance
Over one million private properties, which is equivalent to one in ten homes, are exposed to some level of flood risk in Australia.
If you have water damage, speak to your insurance adviser or insurer to determine what is covered under your insurance policy. If the damage was caused by floodwater, the policy would have to have a flood insurance extension. Not all insurance policies cover floods automatically.
All insurance companies have the following standard definition of a flood: “The covering of normally dry land by water that has escaped or been released from the normal confines of (i) any lake, or any river, creek or other natural watercourses, whether or not altered or modified; or (ii) any reservoir, canal, or dam.”
If you opted out of flood cover, did not opt into flood cover, or your policy excludes flood, your insurer may still assess any claim you make to determine how your home was inundated. This may be required to establish whether other inclusions in your policy (cover for stormwater run-off, for example) can cover all or part of your claim.
In Summary
If you’re looking for more information to help you with your insurance and options, you can find your local adviser today. Specialising in all things insurance, we want to work with you to tailor the best home and contents and business insurance.
Check your policy wording and talk to your insurance adviser or insurer if you do not understand what you are covered for.
General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.
All information above has been provided by the author.
Insurance Advisernet, ABN 15 003 886 687, AFSL 240549
This article originally appeared on
Insurance Advisernet News
and has been published here with permission.
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