House flooded? Know your insurance rights.
House flooded? Know your insurance rights.
The recent New South Wales floods have impacted on more than
200,000 people. If you own a house that was flooded, or you are
renting and your contents have been affected by the floods, it's
important to know your insurance legal rights.
What does my insurance policy cover?
All insurance policies are different. Storm or rain damage is
covered in almost all home and contents insurance policies. This is
damage caused by a storm, rain and wind, and local runoff from
streets, gutters and stormwater drains.
Some home and contents insurance policies explicitly exclude
floods. Each insurance company has its own definition for 'flood',
but it generally means water flowing from rivers, creeks, dams,
lakes or reservoirs that cause damage.
Some policies that exclude flood damage, do nevertheless cover
damage cause by flash flooding which is where the damage was caused
to your property within 24 hours (or maybe up to 72 hours) of the
downpour.
Some other types of insurance policies may cover losses arising
from the floods such as motor vehicle insurance, life insurance,
income protection insurance etc.
Print the residential fact sheet.
The 2010-11 Victorian floods have impacted on more than 200,000
people. If you own a house that was flooded, or you are renting and
your contents have been affected by the floods, it's important to
know your insurance legal rights.
What does my insurance policy cover?
All insurance policies are different. Storm or rain damage is
covered in almost all home and contents insurance policies. This is
damage caused by a storm, rain and wind, and local runoff from
streets, gutters and stormwater drains.
Some home and contents insurance policies explicitly exclude
floods. Each insurance company has its own definition for 'flood',
but it generally means water flowing from rivers, creeks, dams,
lakes or reservoirs that cause damage.
Some policies that exclude flood damage, do nevertheless cover
damage cause by flash flooding which is where the damage was caused
to your property within 24 hours (or maybe up to 72 hours) of the
downpour.
Some other types of insurance policies may cover losses arising
from the floods such as motor vehicle insurance, life insurance,
income protection insurance etc.
If an insurer or insurance broker advised you on the fixed price
cover amount and the amount did not cover all your losses, you may
have a claim against the insurer or broker for the shortfall.
Print the residential fact sheet.