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Journeys : June July 2009
Life on the move Insurance matters A regular column from RACT Insurance CEO Trent Sayers Motor News Journeys each edition. I It’s designed to provide you with practical advice from an insurance perspective, to keep you and your possessions safe. I am always keen to hear from readers if you feel there are issues we should be covering. Insurance is much more important than it was for previous generations. We have more personal assets, and those assets – such as our homes – have a greater value than in past years. At the same time, there seem to be more natural disasters, more car crashes, and apparently more unforeseen circumstances that can affect our assets. From the recent tragedy of the Victorian bushfires, where some householders were uninsured, to every day occurrences such as lost cameras and iPods, insurance is now an everyday issue. So in these pages we try to provide useful information on everyday matters that can have an insurance consequence. I hope you enjoy the special on smoke alarms in this Motor News Journeys (pages 22-23) and I’d welcome any feedback you may wish to provide. Check your cover Under-insurance is an issue of concern following the Victorian bushfires. People often don’t realise how under insured they’ve become until they need to make a major claim. You accumulate things around the house, undertake home renovations, and don’t really think about whether your growing portfolio of assets is adequately insured. We estimate that as many as 70% of Tasmanian homes may be under-insured by an average of $40,000. That’s a lot to lose if you ever need to claim against your policy. We have a handy home and contents calculator on our website at http://www.ractinsurance.com.au/racti/home_insurance_ calculators.html A good idea is to annually review the amount you’re insured for, taking into account recent improvements undertaken around your home, and new assets you have acquired over the year. Then adjust your insurance accordingly. Until next issue, Trent Sayers 20 June / July 09 hope you enjoy the two page special we provide in has been launched by the Minister for Police and Emergency Management, Jim Cox. RACTI support for Storm Safe campaign A RACT Insurance became involved because of claims data that suggests storm events are on the increase in Tasmania. The campaign aims to raise awareness about the need for preparedness for storms. It involves a TV message as well as brochures, newspaper advertising and website advice. “We all need to be prepared for the eventuality of a severe storm at any time of the year,” Mr Cox said at the launch. “The campaign outlines a few simple steps that Tasmanians can take to ensure they are prepared for events that might include high winds, heavy rainfall, hail and lightning.” SES staff and volunteers responded to about 100 calls for assistance across Tasmania during the state’s last big storm in January. The same storm saw RACT Insurance receiving more than 500 damage claims at a total cost of nearly $700,000. The SES launched the campaign to coincide with the first anniversary of the big storm in April last year, when hurricanelike conditions created one of the busiest single episodes in recent years for the SES, who dealt with over 300 calls for help, providing assistance with everything from emergency repairs to removing fallen trees. The storm also proved the costliest in recent RACT Insurance history, with some 1400 insurance claims at a cost just over $2 million dollars. Mr Cox said there were steps residents could take to prepare themselves for storms. “The Storm Safe campaign outlines what you can do before a storm, during a storm, and afterwards. Storms don’t just affect power and property. They’re a real danger and also need to be considered in the context of personal safety.” For more information on how to be Storm Safe or how to prepare for other emergencies, visit the State Emergency Service website at www.ses.tas.gov.au or phone 6230 2700, 6336 3790 or 6434 5333. new campaign of awareness about storms, devised by the State Emergency Service and supported by RACT Insurance,
April May 2009
August September 2009