With summer fast approaching, the Insurance Council of Australia (ICA) is urging homeowners and tenants to prepare for the upcoming storm and bushfire season.
The Bureau of Meteorology is already predicting increased risk this summer, with higher fire risk predicted for parts of Victoria South Australia because of the lower than average rainfall through winter, greater risk of storm and flash flooding across large parts of Australia’s east coast, and above average risk of severe cyclones in the north because of warmer sea temperatures.
In a statement earlier this week, the ICA says that extreme weather can strike at any time. However, insurers see a greater number of events between October and April. Since 2013, 78% of all declared insurance catastrophes have taken place between October and April and 90% of catastrophe-related losses have been incurred in those months.
The ICA lists several practical actions to be taken by households before extreme weather season arrives, to prepare for and reduce the risk of extreme weather.
ICA CEO Andrew Mr Hall said, “We’ve already seen an early start to storm season, with flooding in parts of Victoria and Tasmania last month and storms in south-east Queensland last week.
“Storm season is unpredictable and in Australia, extreme weather can strike any place and at any time. That’s why it’s vital to be prepared and ensure your insurance cover is up-to-date.
“The costs of home repairs and rebuilding have risen by 27% since 2020, making it vital that property owners know that their sum insured is adequate.”
“We also recommend consulting your local state emergency service for safety tips, and to keep informed via resources available from fire and emergency services agencies.”
