Take these steps to protect your home and belongings before disaster strikes.
1. Understand your disaster risk
Australia sees multiple natural disasters each year, across many different types of weather events. And while a natural disaster can affect anyone, it’s good to know whether you’re at a higher-than-average risk.
To find out if your home is in a natural disaster-prone area, contact your local council.
Ask them about flood mapping, historical flood records, cyclone risk and the Bushfire Attack Level (BAL) of your home. If you contact your council, ask them whether your house meets natural disaster standards.
Check out the National Emergency Management Agency’s tips to minimise the Bushfire Attack Level for your house and to protect your home from low level floods.
2. Check if you're underinsured
You're underinsured if your insurance doesn't cover all the costs of rebuilding your home or replacing its contents.
The costs to rebuild after a natural disaster can increase due to:
- the need to meet current building codes to better protect it from future disasters
- higher demand in affected areas for builders and supplies
Use a home insurance calculator to work out your rebuilding costs. Find a calculator that asks lots of details about your home. This may include if it's built on a slope, the quality of fittings and age of the home.
Try the contents calculator and building calculator on the Insurance Council of Australia website, to get an idea of the amount of insurance you might need.
If you haven’t reviewed your insurance for 12 months or more, it’s easy to become underinsured. Learn more about underinsurance and how to avoid it.
See Storm, flood and fire insurance to check if you have enough insurance to rebuild and repair your home.
3. Store your important documents
These won’t be your highest priority if you’re experiencing a natural disaster, so it’s good to already have them stored safely, now.
Protect important originals
Place important documents and records in a fire resistant, waterproof safe at home or in a safe deposit box. These may include:
- marriage or birth certificates
- wills and powers of attorney
- passports
Keep electronic copies
Scan or take photos of important documents. Store these files on:
- an external hard drive — store this away from your home. Keep in a locked drawer at your work, with your solicitor, or with a close friend or relative
- online cloud storage — Australian Cyber Security Centre has information to help make sure your documents are secure
4. Make an emergency plan, in advance
Take time to plan what your household will do in an emergency. This may include where to get information, how to take care of your pets, when to evacuate and what to pack.
The National Emergency Management Agency has a ‘prepare’ hub that can link you to the information and resources relevant to your state. Find out more.
Remember that while some areas are more prone to natural disaster than others, a natural disaster can happen to anyone. Taking the simple steps above, now, can help to protect your finances and reduce your stress in the future.