Insurers battling fallout from Queensland and NSW storms
Insurers are dealing with more than 11,000 claims worth $38 million in the aftermath of the catastrophic storms.
The wild weather that battered Australia's east coast over the weekend has been declared a catastrophe by the Insurance Council of Australia. As of 2pm AEST on Monday 6 June 2016, insurance companies had fielded 11,150 claims across the two states, for approximately $38 million worth of insured losses.
Acting CEO of the Insurance Council of Australia Karl Sullivan said, "So far most claims concern typical storm damage, such as roof and gutter damage, and damage due to fallen trees. There are also reports of cars being flooded in some locations."
Sullivan said that the number of claims will continue to rise in the coming days as people return to their homes.
Need to make a claim?
To give yourself the best possible chance of having your storm insurance claim paid, there are five steps you should take:
- Assess the damage to your property. Inspect your home, contents and property for any damage. You should take all reasonable steps to prevent any further loss or damage to your property.
- Gather your evidence. Make a list of any damage you find. Take photos of the damage and gather any proof of purchase documents you have relating to the damaged items. Make copies of these documents as your insurer may require the original.
- Lodge your claim. You will need to contact your insurer by either going online or by calling their assistance number. You will find a list of contact numbers for major Australian home insurers below.
- Claim assessment. Once your insurer has received your claim, it will send out an assessor to inspect the damage. Make sure you're honest and cooperative.
- Claim payment. Your insurer will pay you a benefit if your claim is successful. If for some reason your claim is rejected and you do not feel that this was the correct result, you should lodge a complaint with your insurer’s resolution department. If the matter is not resolved by that team, you should contact the Financial Ombudsman Service.