As the 2020-21 bushfire season approaches, Queenslanders are being urged to make sure they are adequately insured by checking their policy and talking to their insurer.
The Sunshine State has experienced unprecedented bushfires in the past two years which have been a sobering reminder of the importance to be prepared and minimise the impact of future bushfires on our loved ones, communities, homes and businesses.
Some Queenslanders have been left with major unexpected expenses following recent bushfires due to underinsurance. Now’s the time to check your insurance and make sure you’re covered for the upcoming bushfire season.
How to avoid being underinsured
Take an inventory of your contents
As you accumulate new items, the value of your contents goes up. Whether you’re a business owner, home owner or renter, it’s important to take an inventory of your possessions at least twice a year to make sure you’re not left out of pocket if they’re damaged or lost in a fire. You can use a household inventory checklist like this one from Understand Insurance to make sure you don’t miss anything.
Check the cost of your home
If you’ve recently renovated or upgraded your home, consider whether your level of insurance should be increased. Keep in mind that the value of your home could be different to the cost to rebuild your home. Talk to your builder or a professional valuer to make sure you’re accounting for all costs.
Talk to your insurer
It’s really important to pick up the phone and talk to your insurer so you know exactly what you are and aren’t covered for. You’ll be able to check how they define disasters like bushfire, how much your policy covers, and what kind of claims could be rejected. You can find a list of questions to ask your insurer here.
Don’t wait until it’s too late. Check your insurance today and give yourself piece of mind.
For more information, visit https://bit.ly/30yFFr4.