16 October 2009
Tips for protection during the ACT bushfire season
The Insurance Council of Australia has today urged ACT householders to make sure they have the appropriate insurance cover to avoid severe financial loss in the event of a disaster this bushfire season.
An insurance policy is an important part of your overall risk management plan to ensure your valuable assets are protected. With the bushfire season approaching now is the time to reassess the value of your home and contents and the level of insurance cover you have to financially protect them.
The Insurance Council strongly advises that all householders undertake a detailed review of their insurance needs, by carefully checking the cost of rebuilding their home and the cost of replacing all property contents inside and outside the home. Contents should be assessed by undertaking a room-by-room evaluation and preparing an inventory. To assist policyholders, free calculation guides are available on most insurance company websites.
Householders that live in a high risk bushfire area should also consider obtaining a quote for the cost of a complete rebuild of their property, which can be obtained from a registered builder.
Householders must also know and understand what they are and are not covered for under the particular insurance policy they have selected. Policyholders need to be aware of any exclusions and ask their insurer or insurance broker to clarify if they have any queries. It is important that policyholders ensure they have an insurance policy that suits their individual circumstances.
For further practical information on how to prepare and act when your home is threatened by a bushfire, please contact the relevant fire services authority in your state or territory.