Claims worth almost $3million have been lodged with insurance companies as farmers seek to recover from the devastating St Patrick’s Day fires.
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Property owners in Terang, Garvoc, Camperdown and Gazette who lost houses, sheds, equipment stock, pasture and fencing have claimed an estimated insured loss of $2.79million.
Australian Insurance Council (AIC) figures show that insurance companies have received 218 claims.
The AIC’s Historical Catastrophe Database declared the postcodes of 3260, 3264, 3265, 3266, 3267, 3268, 3269, 3270, 3272, 3274, 3276, 3277, 3325, 3281, 3282, 3283, 3285, 3286, 3287, 3289 and 3301 as a catastrophe with three New South Wales areas, hit by fire on the same weekend.
An IAG spokesman said its insurance teams had been on the ground helping customers get back on their feet “as quickly as possible”. “We received 195 claims following the bushfire, relating to residential and commercial property claims, as well as claims for motor vehicles,” he said.
The IAG claims have been received under the brands of CGU, RACV, NRMA Insurance, Coles Insurance, WFI, and Lumley Insurance. “We have finalised 69 claims and are working with our customers to help finalise the remaining claims as quickly as possible,” he said.
An Elders spokesman said two months on from the fires it had finalised close to half the claims associated with the catastrophe which was “tracking ahead of similar events of this nature”.
“As with most bushfires, some claims are more complex and will take longer to resolve, but we’re continuing to work with our customers and suppliers to ensure we resolve these as a matter of priority,” he said.
With farm insurance policies costing in the vicinity of $15,000 to $30,000 per year it’s understood some of the fire-affected property owners did not have insurance.