As we know, Australia has endured a disastrous summer, from devastating fires to damaging storms. Now those affected are left to clean up the mess, hopefully with the assistance of their insurers.
 
However, it’s been revealed in the last week that insurance policy holders whose properties are in “fire regions” may not have their policies automatically renewed.
 
This brings up all sorts of problems, including that “fire regions” is not particularly clearly defined.
 
Unsurprisingly there are also myriad loopholes and technicalities, including that coverage may exclude damage from heat, ash, soot or smoke in some circumstances.
 
It’s also likely that property and business owners in these “fire regions” will be made to pay an additional fire levy by their insurer to ensure their coverage.
 
The lesson here is that if you find yourself in a “fire region” you must have a very close look at your insurance, examine the PDS, and ensure you understand exactly what you’re covered for and what’s excluded, so that you don’t find yourself without coverage when you need it the most.