Landlord Insurance & Floods

Looking for land lord insurance and tossing up between Terrischeer and EBM:

- Is there a website or resource I can look up areas of NSW and flood risk?
- EBM and TS both do not cover flood damage, is this right?
- Would strata building cover not cover flood? Or is the landlord insurance component more related to loss of rent secondary to flooding and damage to internal content such as carpets?

Thanks for all your help!
 
Looking for land lord insurance and tossing up between Terrischeer and EBM:

- Is there a website or resource I can look up areas of NSW and flood risk?
- EBM and TS both do not cover flood damage, is this right?
- Would strata building cover not cover flood? Or is the landlord insurance component more related to loss of rent secondary to flooding and damage to internal content such as carpets?

Thanks for all your help!

First thing to remember is that "flood" is a very specific definition, and many events that people may call flood are in fact covered under storm damage. The actual definition of "flood" for insurance purposes is:

?Flood? means the covering of normally dry land by water that has escaped or been released from the normal confines of any of the following:
(a) a lake (whether or not it has been altered or modified);
(b) a river (whether or not it has been altered or modified);
(c) a creek (whether or not it has been altered or modified);
(d) another natural watercourse (whether or not it has been altered or modified);
(e) a reservoir;
(f) a canal;
(g) a dam.


It doesn't mean inundation by overflowing gutters and a whole range of other disasters that occur. Simply put, most properties are not at risk of flood, but by all means you need to be comfortable whether your property is or not.

Flood mapping is a very complex and difficult science, there are certainly documents online but I'm not sure as to their accuracy and how much trust can be put in them when you get down to very specific areas.

At present I believe TS does include flood, but you would need to check. EBM doesn't at present, it will come in but to get it right without penalising the majority (who actually don't need it) is an arduous process, so we want to get it right.

The strata building policy would indeed cover flood if it was included in the policy, but this is only to what is covered by Strata Building such as the building and common areas. Damage caused to your unit such as carpets etc. need to be covered under your own policy, as well as the associated loss of rent.
 
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