Wednesday, 19 January 2011

Flood insurance? What flood?

Takes your breath away. On tonight's news reports, several insurers of homeowners who have in some cases lost everything, and who had FLOOD DAMAGE COVER as part of their policies, are being told by those companies one or more weasely excuses (or interpretations of the fine print): best one is, "There was no flood. It was a river rise." Apparently that's not a flood.

More conventionally, some policies had a $15,000 cap for such claims; oh, and $500 excess on each of four sub-categories in respect of water damaged items. Hence, you pay the first two grand anyway.

And while nothing can beat that first "it wasn't a flood" piece of linguistic chicanery, this comes close: companies are demanding "before and after" photographs of water damage to items which, in many cases, were swept away and lost forever.

Good one, guys. The nation's proud of you, not. Federal and State governments will be monitoring the delivery - and ethics - of insurance companies that issued flood-cover policies but are seeking to wriggle out on  technicalities ... or bare-faced lies.

Hope you remember to watch Outnumbered tonight at 9pm on ABC1.  You saw the video clips from this cheeky-wise TV show from (where else?) Britain, on this blog yesterday. If not, go take a look now. Just click on Outnumbered, over there on the left.

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