Know Risk is a community education program designed by the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) to improve our understanding of insurance and how it relates to managing the many risks we all face in life.
Insurance Claim Checklist for Floods
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If you are affected by flooding, here are some steps to take in pursuit of an insurance claim for loss suffered to your business or residence.
1. Take reasonable steps to minimise further damage to your property/business but don’t do anything that may expose someone to risk of injury.
2. If it’s safe to do so, retrieve your copies of the relevant policies from the affected property.
3. If your copies of your policies have been lost in the flood or it is not safe to return to your property to get your policies but you know the contact details of your insurer/broker, get in touch with your insurer/broker and request copies of your policies as well as a claim form.
4. Complete and submit claims on all policies providing whatever detail you have available at the time.
5. Make a list of the losses and damage suffered at each insured address. Also include the cost of temporary accommodation, rental cars, and loss of profits for business interruption claims.
6. Retain and if safe to do so, gather all documents possible to support the items listed in your inventory of loss such as invoices, receipts, financial statements, tax returns and so on. If you don’t have that paperwork, start contacting those in a position to supply copies of those documents (ie. relevant retailers, your accountant, the ATO etc).