Property damage and insurance claims
The East Coast of Australia, not the least of which being the Mid North Coast, suffered severe weather conditions over the weekend of 11 June 2016 resulting in damage to many homes, public structures and personal property. With the incredible amount of rain up and down the coast, there will also be a spike in calls made to various insurance companies. Unfortunately, this is not a new or even unexpected event along the Coffs Coast with wild weather and high rainfall events going in hand in hand with our otherwise enviable climate.
In these circumstances, it’s important for consumers looking to claim under their home insurance policy to understand the difference between property damage caused by either “storm” or “flood”.
Coverage for storm damage is standard in most insurance policies, but flood damage is often either specifically excluded or is an optional cover.
Before you report your claim to the insurer, it pays to get advice about the difference and to be sure about the cause of the damage.
One useful resource to take advantage of is the Fact Sheet made available by the Financial Ombudsman Service on Flood and Storm Insurance Claims. Check it out at: http://www.fos.org.au/custom/files/docs/fact_sheet_natural_disasters_flood_and_storm_insurance_claims.pdf