What happens if it floods?
WHAT risks may be encapsulated by the term flood? Damage caused by flash flooding, stormwater, rainfall runoff, as well as rivers, creeks or the overflowing of artificial catchments. It may also include the effects of storm surge events. Insurers assess the risk of crime against your property and may offer premium discounts of up to 15 per cent if it is protected by a number of key security measures. There are more than 100 general insurers licensed to operate in Aus- tralia and their products differ considerably in terms of coverage, terms and conditions, exclusions and costs.
They have 10 business days from claim lodgement to advise a policy holder of an initial assessment