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.
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.
House flooded? Know your insurance rights.
The recent Queensland 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 storm event such as motor vehicle
insurance, life insurance income protection insurance etc.
Print a copy of the residential fact sheet