Bricktop.

[Anonymous]

Our insurance company has been great. We've had a number of electrical appliances and devices replaced. Still much to do, but we're getting there.

That's good. Not everybody's insurance company is so helpful.

[Anonymous]

Our insurance company has been great. We've had a number of electrical appliances and devices replaced. Still much to do, but we're getting there.

I believe I have asked you this before, but can you remind me if overland flood insurance is available in Australia.

[Bricktop]

I am not sure...but given that the insurance companies are being "flooded" with claims from stricken areas of Queensland and New South Wales ( ac_toofunny ) I suspect it is.



As we live on a hilltop, flooding is no risk. If we are flooded, then pretty much the entire city of Adelaide will be several metres underwater, so we are not insured against flooding.

[Anonymous]

I am not sure...but given that the insurance companies are being "flooded" with claims from stricken areas of Queensland and New South Wales ( ac_toofunny ) I suspect it is.



As we live on a hilltop, flooding is no risk. If we are flooded, then pretty much the entire city of Adelaide will be several metres underwater, so we are not insured against flooding.

Insurance companies here were flooded with claims after the 2013 flood, but any damage caused by the flood itself was not covered.

[Bricktop]

I imagine that if you live on a flood prone area, the cost of insurance would be massive and prohibitive.



A lot of people in Townsville were uninsured as well.

[Anonymous]

I imagine that if you live on a flood prone area, the cost of insurance would be massive and prohibitive.



A lot of people in Townsville were uninsured as well.

You can't buy over land flood insurance in Canada.

[Bricktop]

That's a bit weird for a country that is covered in frozen water for half the year.



http://understandinsurance.com.au/types-of-insurance/flood-insurance">//http://understandinsurance.com.au/types-of-insurance/flood-insurance



Yet you can in one of the driest nations on Earth.

[Anonymous]

That's a bit weird for a country that is covered in frozen water for half the year.



http://understandinsurance.com.au/types-of-insurance/flood-insurance">//http://understandinsurance.com.au/types-of-insurance/flood-insurance



Yet you can in one of the driest nations on Earth.

A lot of people thought it was weird after they found out the hard way that flooding is not covered.

[Bricktop]

As with all things Australian, the insurance industry is heavily regulated and monitored with an Ombudsman. If they treat customers unfairly, they get jumped on pretty smartly. It's part of the Australian psyche of everyone getting a "fair go".



In fact, we've just had a Royal Commission into the banking sector which revealed some rather dastardly conduct undertaken by banks in dealing with customers. As a result the government has imposed several new rules and policies under which banks must now operate to curtail deceptive and even fraudulent behaviour. As a small example, banks used to advertise a loan rate of, say, 5%...which immediately appealed to home buyers. What they either concealed, or added in very small print on their advertisements was that was for the first year only...then it will increase to market rates. That was declared unlawful, and anyone who signed up for loans believing they were in 5% for the life of the loan were given the opportunity to be released from the contract. Australians do not like corporations screwing people.



Insurance companies, health insurance companies, private lenders and investment companies are similarly monitored and regulated.



"Fine print" contracts are forbidden, as are contracts that are 15 pages long and indecipherable.

[Anonymous]

As with all things Australian, the insurance industry is heavily regulated and monitored with an Ombudsman. If they treat customers unfairly, they get jumped on pretty smartly. It's part of the Australian psyche of everyone getting a "fair go".



In fact, we've just had a Royal Commission into the banking sector which revealed some rather dastardly conduct undertaken by banks in dealing with customers. As a result the government has imposed several new rules and policies under which banks must now operate to curtail deceptive and even fraudulent behaviour. As a small example, banks used to advertise a loan rate of, say, 5%...which immediately appealed to home buyers. What they either concealed, or added in very small print on their advertisements was that was for the first year only...then it will increase to market rates. That was declared unlawful, and anyone who signed up for loans believing they were in 5% for the life of the loan were given the opportunity to be released from the contract. Australians do not like corporations screwing people.



Insurance companies, health insurance companies, private lenders and investment companies are similarly monitored and regulated.



"Fine print" contracts are forbidden, as are contracts that are 15 pages long and indecipherable.

We have that too..



But, we can't buy commercial and residential overland flood insurance.

[Bricktop]

Weird.



You'll have to move to Australia, then.

[Anonymous]

Weird.



You'll have to move to Australia, then.

It is weird and most people are unaware of it..



If a water main beaks and floods your house you are covered.

[Bricktop]

That's because the water supplier has public liability insurance.

[Bricktop]

BUMP!!!



Post in my thread you bastards!!!

[Bricktop]

If someone doesn't post in my thread soon, I'm leaving forever!!!