It is devastating to see the impact of the severe flooding currently being experienced across Victoria, Tasmania and lower NSW.
Thousands of homes and businesses have been flooded in many riverside communities, with many buildings being damaged or destroyed.
Although we have been lucky to not be affected in WA, this comes as a timely reminder to ensure your home and business are covered in the event of a flood.
We’ve put together some helpful information about flood insurance and how to calculate your risk.
Calculate your flood risk
Our partners at Steadfast have a handy flood risk tracker to help calculate the flood risk of your home or business. Simply enter your address details in the Steadfast Coastal and River Flood Risk Tracker to find out your level of risk.
Flood cover for homes
Most home and contents insurance policies will cover damage to your home in the event of a flood.
It is important to ensure you have the right level of insurance to cover both the structure of your home, as well as your precious belongings within it.
If you are unsure whether flooding is included in your cover, you should contact your insurer or insurance broker to check.
Or if you are looking for a customised protection policy for your home and contents, contact our team of experienced insurance brokers today to find the right amount and type of cover for your family home.
Flood cover for businesses
Flooding can have a devastating impact on businesses, causing damage to your premises, fittings and fixtures, plant and equipment, stock and also disrupting your ability to trade.
Any business located on a creek, lake or river has a heightened risk of experiencing flooding. However, even businesses outside of flood zones can feel the impact of flooding, with supply chain disruption affecting their ability to access goods, and demand surges increasing the difficulty of accessing some goods and services.
Flood insurance is something you can add within your business insurance policy to protect your business from the risks posed by flooding to both your physical premises, and the impact of any trading disruptions.
If you’re looking to purchase business insurance, contact our team of experienced insurance brokers today to design a package that caters specifically to the needs of your business.