Watch the Suncorp share price plummet.....and to add insult to injury, their Milton office caught fire...in a flood. Poor buggers.
I can tell you the actuary that rated this additional cover to the product has left his employment with Suncorp....it's been an VERY expensive 'buy' of new business.
As has been mentioned before, most insurers won't cover flood. It's not going to make you money - it's not all about love in financial services.
I'd insure with them if I live in a flood zone. Let's hope a lots of T-Bar & Bissy residents have this cover on their big assets.
"Flood Cover now included with Queensland's leading insurerCall 13 11 55
or visit us in a branch
Only Suncorp Home and Contents Insurance now gives you automatic cover for flood damage in addition to cover for a comprehensive range of other events caused by water. This includes:
Storms and flash flooding
Rising rivers, canals, creeks and dams
Rainwater run-off and pooling over normally dry land
Tsunamis
Flooding from dishwashers, hot water systems, and burst pipes
Storm and flood damage to gates and fences
Gutters overflowing and more."