The 2022 NSW and Southeast Queensland floods have caused widespread damage and grief, with the Insurance Council of Australia reporting that 107,844 claims have been lodged in flood-stricken areas, totalling an estimated $1.62 billion from March-April alone.
Major weather shifts present a range of risks for homeowners. Some – like bushfires, storms and flooding – can create easily observable turmoil, and could result in damages to your property which may need to be addressed by your home insurance coverage.
With more and more extreme weather events happening in Australia, there is a worry that some homes will become uninsurable. In light of this, a number of insurance companies are advocating for actions including disaster mitigation and resilience measures.
A new report from Financial Rights Legal Centre has found many insurance customers aren’t being properly supported when making a claim for property damage due to extreme weather events.
The NSW government has partnered with KPMG to develop a tool that will measure the quality and insurability of homes in the state. The so-called Building Assurance Solution (BAS) tool aims to provide both home buyers and insurance companies with a trustworthy rating for residential buildings in NSW.
Launched just last week, new insurance provider Honey is giving qualifying customers up to $250 worth of smart home sensors! The insurtech company which provides home and contents cover aims to use its tech offerings to not only keep Aussies safe, but also help reduce costs for its customers.
RACQ Insurance has warned Queenslanders to lock up their homes ahead of the state’s second long weekend this coming Monday.
A storm of the century has been tearing through New South Wales, causing widespread flooding across the state and forcing thousands of people to evacuate over the weekend. Right now flood evacuation orders are in place for several towns and suburbs including Brushgrove and Cowper, Moree and Ulmarra as well as areas along the Hawkesbury River including Colo River, Agnes Banks and Freemans Reach.Although the rain has now eased, authorities are urging people to remain vigilant as some rivers have yet to reach their peak levels. In the meantime, the government and the banks have also rolled out a number of financial support measures for households and businesses affected by the floods. Read on for a snapshot of their flood relief packages and details on how to access them.
This time 12 months ago insurance companies shelled out $1.89 billion in property insurance claims related to hail damage on Australia’s east coast.
For many 2020 has been the year of discovering and embracing new hobbies, from cooking up a storm to learning how to sew. Inside homes across the world, people have been doing workouts, practising musical instruments and, of course, baking banana bread.