The Australian Securities and Investments Commission (ASIC) has released tips on how to manage after a natural disaster, where to find help and deal with insurers.
Victorian Regional Commissioner and Chief Operating Officer at ASIC, Warren Day said people should contact their insurer early and often following a natural disaster.
“At times like this, your insurer is the best source of advice and assistance,” Mr Day said.
“Contact your insurer early and often – they can tell you how they can help, they may be able to provide emergency accommodation and financial support and other services as part of your claim,” he said.
“First and foremost is your safety – people should only return to their properties when it is safe to do and they’ve been cleared by the local authority.”
Mr Day said people didn’t have to wait to speak to their insurer to start cleaning up but, before doing anything, they should take photos or video to give their insurer.
The Commissioner said people should also check with their insurers before making any repairs, though they could take safe and reasonable steps to prevent any further damage like covering damaged roofs.
He said natural disasters could bring out ‘disaster chasers’ and unscrupulous operators, and people should watch out for fake tradespeople.
“Be on the lookout and, if in doubt, contact your insurer,” Mr Day said.
“Be wary of anyone who asks you for payment up front or to sign a contract immediately.”
He said ASIC’s Moneysmart website had further information on what to do after a natural disaster, including settling insurance claims, and those who couldn’t remember who their insurer was could contact the Insurance Council of Australia’s disaster insurance hotline on 1800 734 62.
ASIC’s Moneysmart website can be accessed at this PS News link.
