Nine months on since the destructive winds of Cyclone Debbie ravaged the Queensland coast, flooded northern New South Wales and took 14 lives, the insurance community has finalised more than 90% of the 73,556 claims totalling $1.6 billion in damage.
Category 4 tropical cyclone Debbie made landfall near Airlie Beach at 12.40 on the 28th of March 2017 and continued to travel south as a tropical low causing extreme flooding and property damage.
Debbie was the deadliest cyclone to hit Australia since Cyclone Tracy in 1974 and has had a big impact on the insurance community, with staff working overtime to get their clients back on their feet and process the huge backlog of claims.
In total there were:
- 37,098 Residential Building Claims, 90% closed, average value $20,006
- 22,026 Contents Claims, 89% closed, average value $6,264
- 4,971 Domestic Motor Claims, 99% closed, average value $9,297
- 579 Domestic Other
- 6,699 Commercial Property Claims
- 801 Commercial Motor Claims
- 1,226 Business Interruption Claims
- 156 Commercial Other
It is expected that the fallout from the cyclone will continue to hit the local communities in the months to come, with renewal prices for insurance expected to increase.
Insurance Aid General Brokers will be continuing to work hard for their clients over this period to ensure they are getting the best deal possible in a tightening market.
With cyclone season just around the corner, now is also the time to make sure you have right insurance cover in place.
For more information and a quote on insurance, call the IAGB team today.
* Image sources: