According to the weather experts we’re in for a strange summer of unpredictable weather and extreme conditions.
Last year was all about the fires, but this year the risk warnings are all about floods. And it’s all due to La Nina.
According to the Bureau of Meteorology (BOM), Australia’s weather is influenced by many climate drivers.
El Niño and La Niña have the strongest influence on year-to-year climate variability for most of the country. They are part of a natural cycle known as the El Niño-Southern Oscillation (ENSO). The ENSO cycle loosely operates over timescales from one to eight years.
La Niña typically means:
• Increased rainfall across much of Australia
• Cooler daytime temperatures (south of the tropics)
• Warmer overnight temperatures (in the north)
• Shift in temperature extremes
• Decreased frost risk
• Greater tropical cyclone numbers
• Earlier monsoon onset
If you’ve ever lived through a flood or cyclone you know how devasting they can be to your life, property, and ability to keep running your business.
We saw through the Bush Fires, that many people weren’t prepared for what was happening, didn’t have the right insurance in place, or were grossly underinsured. This means, they were short on rebuilding funds
What does flood insurance cover?
Covering of normally dry land by water that has escaped or been released from the normal confines of any of the following:
§ a lake (whether or not it has been altered); or
§ a river (whether or not it has been altered or modified); or
§ a creek (whether or not it has been altered or modified); or
§ another natural watercourse (whether or not it has been altered or modified); or
§ a reservoir; or
§ a canal; or
§ a dam.
Flood damage may be automatically included in your policy, and others may only offer the cover as an optional extra, which you will have to pay for.
If you’re not sure whether you’re covered for flood damage, check your product disclosure statement (PDS) carefully, or give your Account Executive a call before flood season is upon us as most policies will have a waiting period before cover kicks in.
8 Things you can do before a flood
If you live, work or visit a flood‐prone area there are 8 tips you can do NOW to prepare for floods:
1. Know your risk
2. Know where to go
3. Know who to call
4. Know your plan
5. Get your kit together
6. Prepare now to act early
7. Check your insurance
8. Listen to local radio
The advice on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs. You must decide whether or not it is appropriate, in light of your own circumstances, to act on this advice. You should ensure you obtain and consider the Product Disclosure Statement for the policy before you make any decision to acquire it.