Flood is the covering of normally dry land by water that has escaped or been released from the normal confines of a lake, river, creek or other natural watercourse (even if they've been modified) or any reservoir, canal or dam.
Floods can occur when a long period of rain causes rivers, creeks and dams to overflow. This can affect large inland areas and spread over hundreds of kilometres. Although you may not have had rain in your area, a river can still break its banks because of heavy rain upstream.
Rainwater run-off is water that flows over the ground or backs up because of a storm.
It can occur when a large amount of rain falls in a storm and causes drainage systems to fail, spilling water into nearby areas and damaging property.
Storm surge is an increase in sea level because of an intense storm or cyclone and associate waves. Storm surge doesn't include sea actions caused by normal tidal movements like high tides or king tides.
Product Disclosure Statement and Policy Booklets
Your premium is affected by the risk of your property being damaged by flood, rainwater run-off or storm surge.
To work out your risk, we use data from sources like the National Flood Insurance Database, hydrology and terrain mapping, council mapping and claims information.
We check and update our data throughout the year to make sure we use the latest information. That means your risk level may change from year to year.
The construction of your home, your sum insured, your excess and the kind of cover you choose also affect your premium.
We regularly reassess the risk at your property using the latest available data. This includes local or state government flood studies, our own data, and other expert reports. That means the risk of flood, rainwater runoff and storm surge can increase or decrease as information changes.
If you contact us, there are a few things we can check to try and adjust your cover and premium. Like checking that the information you’ve given us or the cover you have is still correct and relevant, as well as reviewing other policy details. We can also discuss any optional benefits available to ensure you’re covered.
You can also ask us about the financial assistance options available to you.
Call us on 132 132 and we can talk about your flood cover and premiums.
These events often create a lot of damage. Even a few centimetres of water can cause tens of thousands of dollars of damage to your kitchen, carpet, furniture or the building itself.
We calculate your premium based on specific factors about you and your home, so the cost will be different from property to property.
If you don’t agree with our decision that your property is at risk of flood, rainwater run-off or storm surge, call us on 132 132.
You may be able to get more information about your property’s risk of flood, rainwater run-off and storm surge from your local council or water authority.
If your insured property is in NSW, TAS or the ACT, you may be eligible to remove cover from your Home Buildings or Home Contents insurance for loss or damage caused by flood, rainwater run-off and storm surge (but not tsunami).
If you choose to do so, you won’t have cover for loss or damage caused by any of these events. These covers can’t be removed individually.
You are not eligible to remove those covers if your insured property is in any other state or territory.
To talk about opting out of flood, rainwater run-off and storm surge cover, call 132 132.
If your car's covered by a Comprehensive, Comprehensive Basics or Comprehensive Plus policy, it's covered for flood damage. Third Party Property Damage and Third Party Fire and Theft Insurance do not cover flood. See the PDS for more information.
