People are often surprised to find that their building, contents or business insurance policy does not cover them for flooding.
The wording of policies varies widely and different insurance companies take different approaches to damages caused by flooding.
Flood insurance is now offered in many flood-prone areas. Owners should read policies carefully to determine whether or not they are covered.
DEPI has provided its flood mapping information to insurance companies. This allows insurance companies to accurately price flood premiums based on an area's flood risk. DEPI is continuing to improve its flood mapping. Insurance companies set flood insurance premiums, not the government.
Investment in flood mitigation infrastructure such as levees is expected to reduce insurance premiums in flood-prone areas.
- The Insurance Council of Australia represents companies and has produced a helpful brochure about residential flood insurance. Download Flood Insurance in Australia – some useful information (PDF 59 KB).
- The Financial Ombudsman Service is a free, independent service for resolving disputes between insurance companies and consumers. It can be contacted on 1300 78 08 08.
- For tips on preparing your home during a flood the Floodsafe program has emergency plans and kits
- For information on rural property maintenance visit the SES Floodsafe website
- Read DEPI's short fact sheet about whether your property could be at risk of flooding: Your property and flooding fact sheet