Insurance and motoring services provider Royal Automobile Club of Queensland (RACQ) has settled more than half of the 2,600 motor vehicle insurance claims it received in relation to the recent catastrophic flooding in southeast Queensland.
As of April 13, RACQ has paid out over $28 million to its members for motor vehicle claims related to the flooding. Overall, it has received more than 14,200 property and motor claims from the event and continues to receive new claims every week.
RACQ general manager claims Trent Sayers said the insurer added around 140 extra staff to its claims team to improve its response to the catastrophe. It also continues to recruit workers to manage claims as quickly and efficiently as possible.
“We know this is an extremely challenging time for affected members, and we're prioritising those most vulnerable,” Sayers said. “Our assessors and building panel are responding to our large volume of claims, and we want to reassure members that storm and flooding [are] covered as standard in RACQ home and motor insurance policies.”
RACQ continues to support its flood-affected customers, with its assessors inspecting damaged vehicles and processing claims as quickly as possible. So far, the insurer deemed around 90% of damaged vehicles as total write-offs, enabling members to find a replacement vehicle and get back on the road sooner.
“We're supporting this through our exclusive agreements with car dealerships, including Motorama, Eagers, and Autopact, which provide impacted members with preferential access to a replacement,” Sayers said.
As of April 13, the Insurance Council of Australia (ICA) revealed that insurers had received 177,630 claims related to the devastating flooding in southeast Queensland and New South Wales (NSW). The estimated current cost of claims is now $2.487 billion.
