Many roads to recovery – take the fast one

Severe weather incidents have wreaked havoc across Australia already this year. Hail the size of golf balls, tropical cyclones and storm water have caused significant damage and costs for facilities in affected areas. It provides a timely reminder of how adverse events can affect anyone and the need for the right protection.

While you may view all insurance covers for your community centre as one-and-the-same, each insurance policy provides different levels of cover and every insurer provide different levels of service to support you. The following questions are what you need to ask of your insurer in the event of a claim:

What support can I expect in the event of damage?

If your centre is damaged, your primary concern is going to be to keep your centre running. While your insurer’s role is primarily to reimburse you for damage, it can encompass much more. Guild’s aim is to help you continue to operate in some capacity in the short term and to fully rebound from any damage in the long term.

How we have helped: Support to help a facility recover

A “once-in-200 years storm” hit Mackay and a facility insured by Guild sustained costly water damage. A Guild Insurance representative took the earliest flight possible to Mackay and a $40,000 upfront emergency payment to the facility owners was quickly authorised so that they could cover expenses for work requiring immediate attention.

Revolutionary drying techniques, similar to those employed in the recovery efforts in New Orleans after Hurricane Katrina in 2005, were used, which proved successful in speeding up repairs.

How long will claims take to be resolved?

Waiting to find out if your claim is being accepted can be stressful not to mention costly and the quicker your insurer responds, the better.

How we have helped: Fast claims service

In the Newcastle storms in 2008, more than 350 claims were lodged by Guild clients suffering damage from the storms. Over 80% of customers who reported a claim in the first two days after the storms were visited by an assessor within the first week.

Critical claims were also prioritised and Guild customers who experienced ‘large’ or ‘total’ losses were visited within two days by an assessor. Emergency payments were made within 24 hours of a claim being lodged to help those worst affected to cover any expenses requiring immediate attention.

What if the centre was unable to fully function due to damage?

The length of the rebuilding process can sometimes take longer than expected, especially in the event of a major disaster when there may be a surge in demand for construction services.

To cover any lost income due to disruption, sufficient Business Interruption cover can be invaluable for your centre. This cover provides financial reimbursement for ongoing expenses such as rent, increased cost of working and any loss of income due to disruptions to your centre caused by insured damage.

Insurance is probably the last thing on your mind when running a busy centre, but it can be a significant factor in helping you bounce back from unexpected events. Guild Insurance has developed an insurance product to meet the specific needs of community organisations and help you make a full recovery from damages.

Talk to your local Guild representative about your centre’s insurance on 1800 810 213