Insurers already face $200 million in claims from Victorian bushfires

Insured losses from Victoria’s January bushfires have climbed to $200 million across 3,123 claims, with Skipton among the affected communities.

What happened? Insurance claims are expected to continue across fire-affected parts of Victoria as residents return and access to damaged areas improves.

• The Insurance Council of Australia said claims cover property, motor, commercial, and business interruption losses, with around 30 percent of property claims assessed as total losses. 

In person presence: “Being here on the ground, you can understand the true scale and impact of these fires, and the devastation it has caused,” ICA CEO Andrew Hall said. 

• To date, insurers have been in Skipton, Castlemaine, Harcourt, Natimuk, Seymour and Yea. 

Impacts unlikely: The ICA said “regions of Victoria impacted by the bushfires will continue to remain insurable, with no evidence suggesting any insurers are looking to pull out of the Victorian market”.  

Practical advice: Advice from the ICA recommends those who want to make a claim should  keep a record of damage with photos or video and speak to insurers before starting clean-up or repair work.

• Those in unsafe homes should notify local authorities and check whether temporary housing expenses can be claimed.

“I encourage anyone who has damage, even if the full extent is unknown, to get in touch with their insurer to begin the claims process,” Hall said.