Updated January 08, 2013 13:48:15
Insurance companies are already starting to count the financial cost of the Tasmanian bushfires, with fires in New South Wales and Victoria expected to greatly add to the tally of property damage.
The estimated cost of property losses from the Tasmanian bushfires has already passed $42 million, with further damage possible as fires flare up again and threaten more homes.
By 9:00am (AEDT) this morning, more than 410 claims had been submitted to insurance companies from policy holders in the state’s south.
Assessors are expected to reach the fire affected townships of Dunalley and Sorrell tomorrow, and the Insurance Council of Australia has extended its catastrophe declaration to other areas in the region including Bicheno and Lake Repulse.
However, it says assessors will only be able to enter areas once they have been declared safe.
Campbell Fuller from the Insurance Council says as the fires burn, more claims will come through.
“We do stress thought this is early days – we would expect many more claims to be lodged in the coming week as property owners return to their communities and get better ideas of the damage,” he said.
“We would stress though that people who are affected by the bushfires should contact their insurer as soon as they can and get that claims process rolling.”
The council’s chief executive Rob Whelan says rapidly moving fires in New South Wales and Victoria are likely to cause more property damage.
“We hope that the actions of firefighters will help protect lives and properties, but experience shows us that bushfires and grass fires are unpredictable and cause widespread damage,” he noted in a statement.
The council is urging people to heed the advice of emergency services until the fire danger has passed.Topics:
business-economics-and-finance, insurance, bushfire, tas, nsw, vic First posted January 08, 2013 13:46:24