Eeek! I'm not covered for flood....in Bris...help?!?

wylie said:
.... but you gotta clean the mud out of the wall cavities first :p:D.
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Yup! Hopefully it doesn't reach us, but that's all we can do now is hope & wait.

One confusing thing is that I keep hearing the river will peak at approx 7 or so metres, then the news says it's 21 or so metres. Where are they measuring from; the river bed or street level or both? Is that why there are 2 different meterages?

BTW Amadio's link was very helpful in advising exactly what options are open from here on.
 
The Bremmer River (Ipswich) is expected to peak today at 21 metres (or thereabouts) and Brisbane River is the lower figure with peak early tomorrow.
 
hi all
it may not be the time to say it but that me
most of the comm do not cover flood most of the comm inspectors I have spoken to have said this is going to be a big problem for the comm that have been flooded
a comm rest kitchen usually cost above 300k the mac's that was in this post costs about 500k to but back together and you can't just run a few rags over it
the comm part of this problem has not even started yet
after the water goes there is not enough tech in the brisbane area to cover the repairs the repair cost will be huge
nbn for get it the repair cost just in the kitchens will be over this
you won't get out of a kitchen any change from 100k
some of those kitchen are upwards of 500k
you can be looking at 10 to 15 mil in a street of comm
yes lives are first but the real money cost has not even started to be calculated
when a rest floats down stream with about 500k in catering equipment with it that does cause a bit of a problem
all those coolrooms that get turned off and get water in them
a 4x4 coolroom is about 25k
we are looking at a huge problem and most insurers will try to avoid as they are now to deal with the issue
we are already talking about a massing temp rebuild station to refirb and repair and most insurers are saying no
when a shopping center is flooded what do you do with the coolrooms and frozen stockand we are talking huge coolrooms
and they don't get built in a day.
to get this back on track will take a huge effort
and from what I have seen in the past we will get a mix match so some doing this and some doing that
and alot of insurers saying no to flood coverage
lets see
oh the service dept in bris and the out lying where already flat chat and could not keep up
how the hell are they going to keep up with this
easy cost rises
 
wylie said:
The Bremmer River (Ipswich) is expected to peak today at 21 metres (or thereabouts) and Brisbane River is the lower figure with peak early tomorrow.
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IDQ65389.040831.png
 
This advise comes too late for many people impacted by floods this time, but maybe it helps people in the future

About flood insurance. According to their marketing brochure Coles offers home and contents insurance which covers floods. Actual insurance underwriter is Wesfarmers insurance but the insurance is 'marketed' under Coles name.

I am not their customer at least not yet. I have fully paid my current insurance for a year and it has still 1/2 year to go. But when it's expires I'll be looking into them more closely.
 
Tillie said:
This advise comes too late for many people impacted by floods this time, but maybe it helps people in the future

About flood insurance. According to their marketing brochure Coles offers home and contents insurance which covers floods. Actual insurance underwriter is Wesfarmers insurance but the insurance is 'marketed' under Coles name.

I am not their customer at least not yet. I have fully paid my current insurance for a year and it has still 1/2 year to go. But when it's expires I'll be looking into them more closely.
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Any links to this. i might want to get this for my place in melbourne. not in flood area but i'm still equally concerned.
 
Tillie said:
This advise comes too late for many people impacted by floods this time, but maybe it helps people in the future

About flood insurance. According to their marketing brochure Coles offers home and contents insurance which covers floods. Actual insurance underwriter is Wesfarmers insurance but the insurance is 'marketed' under Coles name.

I am not their customer at least not yet. I have fully paid my current insurance for a year and it has still 1/2 year to go. But when it's expires I'll be looking into them more closely.
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Hi Tillie,

I'm fairly sure that if you cancel a policy early, the provider sends you out a pro-rata refund for the unused portion of the policy. If that's the case, you could switch now :)
 
mary&mat said:
Hi Tillie,

I'm fairly sure that if you cancel a policy early, the provider sends you out a pro-rata refund for the unused portion of the policy. If that's the case, you could switch now :)
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You will get a pro rata refund of the premium, but not the stamp duty, GST or any Government levies. These charges can be more than half of the premium you have paid, so check to the refund amount before cancelling.
Marg
 
Thanks for the advise everyone. I might call to my current insurance company and ask details about the refund.


Melbournian said:
Any links to this. i might want to get this for my place in melbourne. not in flood area but i'm still equally concerned.
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Here is the link for Coles insurance web-site:

http://www.coles.com.au/Coles-Insurance.aspx

On the web-site they mention that the both home and contents and building insurance covers floods, storm damage, fire etc.
 
Tillie said:
Here is the link for Coles insurance web-site:

http://www.coles.com.au/Coles-Insurance.aspx

On the web-site they mention that the both home and contents and building insurance covers floods, storm damage, fire etc.
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Thanks, Tillie. By my count, there are 3 insurers in QLD who cover flood:

1) Suncorp
2) Westpac
3) Coles

Does anybody know of any others?

By the way, I'm with Suncorp, and I just can't speak highly enough of them, having been flooded twice in 20 months. They are very good at paying out, have excellent customer service, and don't quibble (unreasonably). Contract builders and assessors all seem to love working for them and I note that most of them use Suncorp themselves.

One thing that even many Suncorp customers don't seem to realise is that if you lose contents, they pay you cash for replacement value; they don't buy you a replacement.

So if your fridge is written off - which it is if it is touched with flood water -and it costs $2K to replace, they give you a cheque for $2K. Whether you buy a different fridge, or no fridge, they don't care. They don't take away the stuff they've written off, and in fact, if you're able to salvage your fridge from the garbage and get it working, that's your good luck for being a savvy "dumpster diver". :cool: That's about where you get your "next fridge" from, nothing to do with the claim for your loss, in Suncorp's eyes.

I'm not remotely suggesting anything dodgy; Suncorp are more generous than feels right! :eek: I often ask a hypothetical that I feel tests the limits, and they frequently answer "sure, no problem".

As an even more amazing example, if you salvage that fridge from the dumpster and it still works, then you were unlucky enough to have another claim a while later, Suncorp will pay you another $2K to replace that fridge. True story, and nothing dodgy or undisclosed about it. :cool:

How expensive are they? Well, we have the house insured for about $600K and the maximum contents you can have without extra security (about $135K I think), and I think it costs us about $1700 pa. (We have a car bundled in and I can't remember exactly the portioning.) Even if that's "high", we won't live long enough to not end up in front. ;)
 
I was reading a story about a Bull-Shark sighting in Goodna and chanced across this story also; if the floods would have reached a property owned by friends of ours in Ipswich they assure us it would have sent them bust also

Brisbane landlords face further disaster

Landlords across Queensland are likely to go bankrupt in the next few months, an industry expert has warned.

Bruce McBryde from the Property Owners Association said many landlords would struggle to make ends meet after having their properties ruined by the floods and no rent coming in from tenants.

“Landlords have already been finding it hard with the rising cost of interest rates and many have relied on the income from the rent to get by,” he said.

“Without the rent from their tenants, plus the huge cost of making repairs to their properties … they’ll go broke.”

Paul and Sarah Smith had been renting Sarah’s mother’s rental property at Goodna when the floods hit.

Their home was inundated to the second story and the damage is enormous.

Ms Smith said her mother owned five other properties in Goodna which she rented out – all of them had gone under in the flood last week.

“My mum has six rental houses and they’re all ruined,” Ms Smith said.

“You might say ‘oh she’s got six rental properties, she must be rich’, but she’s not – she has mortgages on all of them and relies on the rent to help pay.

“How will she pay for them now?

“She’s devastated. She doesn’t have insurance for this. She hasn’t come back here yet.”

Mr McBryde said there was likely to be a severe rental shortage for a while in Queensland.

“It will be a struggle for many of these affected landlords to afford the necessary repairs on their homes,” he said.

“In the meantime, people are going to have to have somewhere to live and rentals will become scarce without a doubt.

“University is starting in a couple of weeks and many of the student rentals around Toowong and St Lucia have suffered damage.”
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