Check your in­surance

Tweed Daily News - - NEWS -

All new home and con­tents in­surance poli­cies in Aus­tralia in­clude flood cover, how­ever many choose to opt out of flood cover, ex­clude flood from busi­ness poli­cies or choose not to in­sure at all.

Cover for stormwa­ter will not gen­er­ally ex­tend to in­clude flood events. Pol­icy hold­ers should un­der­stand the dif­fer­ence and up­grade their pol­icy if flood cover is re­quired.

For more in­for­ma­tion, see: un­der­standin­sur­­surance/flood-in­surance

Own­ers of older prop­er­ties sus­cep­ti­ble to flood­ing also should con­sider in­creas­ing their in­surance poli­cies by $10,000 to $20,000 to cover the cost of the Devel­op­ment Ap­pli­ca­tion process and build­ing to meet cur­rent stan­dards in case their house is de­stroyed yet they need to re­build in the same lo­ca­tion.

The best safe­guard against storm and flood is prepa­ra­tion ... as a ‘rule of thumb’ for most of the Tweed Shire, if 300mm of rain falls within 24 hours you should ex­pect sig­nif­i­cant flood­ing.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.