Claiming insurance on a flood-damaged property: What you need to know

Recent floods in Auckland have affected many properties and homeowners may be faced with the task of cleaning up and making insurance claims. Here’s what you need to know:

Safety First: Before entering a flooded property, it’s important to ensure that it’s safe to do so. If there’s any potential danger, such as electrical hazards, it’s best to wait for the professionals.

Assess the Damage: Once it’s safe to enter the property, it’s important to assess the extent of the damage. Take photos or videos of the damage for insurance purposes.

Clean-Up: Flood waters can contain harmful contaminants, so it’s important to wear protective gear, such as rubber gloves and boots, when cleaning up. Remove any standing water and any items that can’t be salvaged, and start the drying out process as soon as possible.

Contact Your Insurance Company: Contact your insurance company as soon as possible to start the claims process. They will provide you with a claims adjuster who will assess the damage and provide you with a list of what is covered by your insurance policy. It’s important to note that in some cases, flood damage may not be covered by standard insurance policies and may require additional coverage.

Document the Clean-Up: Keep receipts and documentation of any expenses incurred during the clean-up process, as well as any temporary living expenses, such as hotel stays, if necessary.

Keep an Open Mind: Insurance companies may require additional information or documentation, so it’s important to be patient and cooperative throughout the claims process.

Consider Legal Assistance: If you feel that your insurance company is not treating you fairly, it may be necessary to seek the assistance of a legal professional.

Dealing with a flooded property can be overwhelming, but by following these steps, you can ensure that the clean-up process goes smoothly and that you receive the insurance compensation you’re entitled to. If you’re a homeowner affected by the recent floods in Auckland, it’s important to stay informed and take the necessary steps to protect your property and your rights.

Updates from the Insurance industry

The Insurance Council of Te-Ika-a-Maui reports that claims from the recent wet weather are likely to reach into the tens of millions of dollars. With thousands of claims already filed and more expected, insurance companies are working to process them as quickly as possible.

A typical home and contents policy should cover an accommodation allowance for an uninhabitable home, and renters are also protected. The Earthquake Commission (EQC) will become involved if there is a landslip, but affected parties are advised to first contact their insurance company. The Insurance Council assured that insurance companies are financially capable of handling the large scale event.

Along with the tens of thousands of home and contents claims, there will also be claims for cars and businesses. The total number of claims may take at least two weeks to determine.

Way forward

It goes without saying that it is also expensive to restore flood damage; it’s obviously not ideal to have a house that needs to be sold but you should be able to do it if you document everything and work closely with your insurance company. You can usually put things back together and continue living your life with only minor damage. However, if the damage is severe and the anticipated repair work would take many weeks, it might be worthwhile to consider selling.

Thus, homeowners can sell their flood-damaged property to WeBuyProperty.co.nz rather than opting for the path to recovery and reconstruction. We can take damaged houses off your hands quickly and save you from the hassles of intensive repairs. Meanwhile, it is advisable for you to take insurance claims for your damages and then sell it off.