Expert predictions of longer and more severe bushfire seasons have prompted insurers to issue warnings about the potentially catastrophic personal impact of widespread under-insurance.

The message being delivered loud and clear is review your insurance annually. Don’t just close your eyes and pay the premium!

Ask yourself: Would my sum insured actually allow me to rebuild my home or business and replace its contents if it was all completely destroyed by fire?

Think that wouldn’t happen to you? Think again.

In late spring, the Bushfire and Natural Hazards Cooperative Research Centre released its Southern Australia Seasonal Bushfire Outlook report identifying ‘above normal fire potential’ for the South West this summer.

Climate change combined with an El Nino weather phenomenon is creating hotter, dryer conditions.

One look back over the 2015/16 summer in the South West of WA and you would have to agree the experts were spot on. The threat is real.

The January Waroona Fire disaster – which burnt through 69,000 hectares, claimed two lives and all but destroyed the historic town of Yarloop, was listed by the Insurance Council of Australia as one of four national catastrophes pushing total summer insurance claims across the country to more than $515 million.

The ICA’s Campbell Fuller said around $1.3 million was being paid out each day as a result of the claims.

Here at MGIB we have assisted approximately 20 clients with submitting claims for damage resulting from the Waroona Fire.

Of particular impact to our clients has been the loss of fencing and the high cost of replacement.

One kilometre of fencing costs approximately $10,000 and we have clients who have lost up to 50km!

Harvey dairy farmers and Jennifer Maughan lost 30 per cent of their paddocks in the blaze, along with 4km of fencing and 200 rolls of hay.

While thankful they didn’t lose any infrastructure, the impact on their operations has been significant.

“We were burnt out on the Saturday and I called MGIB on the Monday morning,” Jennifer said.

“Clare and Rose came and saw us about a week later. They noted down what we had lost, took some photos and that is all we had to do.

“They really were very good. Amazing actually! We’ve already had the money from our payout.”

MGIB has already been able to present many of our clients with insurance payout cheques and they are thankfully back on the long road to recovery.

We were able to ensure our client’s claims were expedited due to the strong relationship we have with our insurers and the insurance companies MGIB choose to deal with, also have a strong customer focus.

For advice on ensuring you’re adequately covered, phone MGIB and speak to your Account Manager.