Since 2011, Queensland has been hit by more than 80 significant natural disasters. Many people have found out too late that they did not have enough home and contents insurance cover for their property and assets. Regardless if you are a home owner or a renter, this can be extremely costly and stressful.

This video shows the story of a couple who discovered they were uninsured for both the value of their home and home contents, following a destructive fire.

How to avoid underinsurance

Check your policy, contact your insurer and start asking questions. Don’t assume you are covered and don’t assume you’ll never be affected or hit by a disaster such as bushfire.

Whether you're a renter, home owner or business owner, it's vital you check your policy and contact your insurer to check your level of cover and if it includes natural disasters. 

If you find out you don’t have the level of cover you need, ask about increasing your insurance and compare the difference. Shop around to find insurance coverage that meets your needs.

Here's a list of important questions to ask your insurer about your policy. 

Insurance affordability

One in five adults in Australia goes without general insurance protection for their household contents, car or home. Many of these people are uninsured, not because they don’t want insurance, but because they can’t afford traditional cover.

Rising premiums, especially in North Queensland, due to the impact of recent natural disasters is also a major contributor to unaffordability.

There are resources available to offer guidance and expertise in relation to insurance affordability. Check the links below to find out more about companies who offer affordable and simple insurance policies for low income earners or about assistance for North Queensland residents.