Bushfire season is on us again and 8 in 10 owners may be underinsured

Bushfire season is on us again and 8 in 10 owners may be underinsured

As disaster season may be upon us again, landlords and Property Managers should make sure they are ready should Mother Nature unleash her wrath.

 Drought conditions, unseasonably warm weather, below-average and above-average rainfall in parts of the nation have heightened the risk of bushfires. The season has started in southern Queensland, northern WA and in the north and west of NSW, many other parts of the country will also brace for fires.

Despite the risk facing much of the country, the Insurance Council of Australia has revealed that it is likely that eight in ten households are uninsured against bushfires.

The risk of cyclones, storms, floods and bushfires soars between November and April – often leaving devastating damage bills in their wake. It is estimated that natural catastrophes cost the Australian economy $9 billion each year and this is expected to more than treble by 2050 to $33 billion per year, according to the Australian Business Roundtable for Disaster Resilience and Safer Communities.

Heed the sage words of Scouts across the globe and “be prepared”. Advice on how to prepare a property for natural disasters (bushfire, flood, storms and cyclones) and what to do in the event of a disaster can be found on your State/Territory emergency websites.