.jpg)
Brokers would need to remind their renter-clients to ensure they are adequately insured, after new NRMA research revealed that renters and those living in apartments are the most susceptible to storm damage and potential costs, with storms costing NSW $1.56 billion every year.
The NRMA study, conducted from October to March last year, revealed that renters are less likely than owner-occupiers to take steps to prepare their home for severe weather (44% versus 55%) while only 39% of people who live in apartments prepare their homes for storms, compared to 54% living in houses.
The research also found that only 35% of renters worry about the damage a storm could cause to their house or apartment, compared to 48% of owner-occupiers.
“While it’s easy to understand why renters and those living in apartments may feel it’s too hard, or it’s not their responsibility to prepare for storms, the reality is taking steps to prepare your home for severe weather not only protects your property, but also protects your family,” said Ramana James, EGM of safer communities at NRMA Insurance. “There are a number of simple steps that people can take to prepare their home for severe weather. This includes getting to know your neighbours, preparing an emergency plan, reducing clutter, and securing loose items on balconies.”
The research also found that 41% of home claims in NSW in the last financial year were the result of storm damage, despite NSW experiencing one of its most severe droughts on record. This was a slight drop on NSW’s long-term average, with 61% of all home claims from 2013 to 2018 across the state were the result of storm damage.
