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After a Storm or Flood

Posted on Thursday, 13 October 2016 by walter

Each year storms, hail and heavy rain cause tens of millions of dollars’ worth of property damage and injuries to people; not to mention the emotional anxiety experienced from witnessing your livelihood and belongings in ruin.

Steadfast insurance brokers have first-hand insurance experience when it comes to dealing with storm and flood emergencies. Here is some general information on what you can do if you have been affected. All situations are different however, and you should seek professional advice from your broker who'll tailor a solution for your individual needs.

If you have been affected by flooding, here are some steps to take in pursuit of an insurance claim for loss suffered to your business or residence.

  1. Take reasonable steps to minimise further damage to your property or business, without exposing someone to risk of injury.
  2. If it’s safe to do so, retrieve your copies of the relevant policies from the affected property.
  3. If you are insured through an insurance broker, contact them immediately so they can report your claim to the insurer as soon as possible. Your insurance broker will be able to manage your ongoing claim on your behalf. If you do not have an insurance broker and know who your insurance is with, you will need to contact your insurer directly and they'll be able to advise you of your next steps.
  4. Take pictures of damage to your property and possessions.
  5. Make a list of the losses and damage suffered at each insured address. Also include the cost of temporary accommodation, rental cars, and loss of profits for business interruption claims.
  6. Retain and if safe to do so, gather all documents possible to support the items listed in your inventory of loss such as invoices, receipts, financial statements, tax returns and so on. If you don’t have that paperwork, start contacting those in a position to supply copies of those documents (ie. relevant retailers, your accountant, the ATO etc).

Source: Steadfast Group Limited