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Do you know what steps to take if your Home or Strata property is damaged in a storm? Renee Cassidy, Claims Manager at Whitbread Insurance Brokers, provides her top tips should your property suffer damage during a severe weather event.
It’s a stormy day, and the wind has been howling all afternoon amid heavy downpours and pelting hail. You approach your driveway after a long day at work, and as you pull in, your eyes widen at the sight that greets you – a large gum tree on the property has fallen through the roof of your home.
You rush inside to assess the damage, only to find a gaping hole around the impacted region and see that water has been pouring into your home for an extended period of time.
After the initial shock has subsided, panic sets in - what should you do next? Who do you call?
After very severe storms that cause serious and widespread damage, the weather event can be declared a catastrophe by the ICA. But what does catastrophe mean in the context of your insurance?
If a catastrophe occurs, it means you are able to carry out emergency repairs for damage to your property without needing to lodge a claim, or needing to get prior approval from the insurance company.
In this instance you can lodge your claim at a later date and push ahead with immediate repairs. The insurer will then reimburse you for these costs .
In significant weather events, or catastrophes, insurance companies will often send out large groups of claims assessors to affected areas to help process your claim as efficiently as possible.
Catastrophe cover can insure you for the increased cost of repairs that may occur as a result of an emergency after-hours call out, and the increased cost of supplies needed for repair. For example, the cost of tarpaulins may skyrocket if they are in high demand and there is a limited supply.
Strata Managers: Catastrophe cover is in addition to your Building Sum Insured, and is not always automatically included. We recommend checking your Strata Insurance policy to make sure this feature is included in your cover.
Residential Home Owners: Cover for ‘catastrophic events' (such as storm, fire, water damage, etc) is a standard inclusion and forms a key part of your Home Insurance policy. Refer to your current Product Disclosure Statement (PDS) or contact your broker for more information on the extent of your insurance coverage.
Often in times of catastrophe, insurers are inundated with claims – this is where a broker can really set your mind at ease.
This insight article is not intended to be personal advice and you should not rely on it as a substitute for any form of personal advice. Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.
This Media release from the 10 March, 2018 outlining the latest from the Victorian Cladding Taskforce has been supplied by Minister for Planning, Richard Wynne.
Despite many years of good work in building strong relationships with your strata clients, a Strata Manager’s reputation can become severely tarnished overnight if a crisis isn’t managed effectively.