West Australians warned of insurance cover

West Australians warned of insurance cover

03 December 2013

published by www.margaretrivermail.com.au

Australia — A REPORT commissioned by the Insurance Council of Australia has found just 20 per cent of WA residents are confident in their bushfire insurance coverage.

The Understand Insurance study of more than 900 Australians also revealed WA has the country’s highest levels of household underinsurance.

Eighty-eight per cent of West Australians are potentially risking their future financial security through underinsurance of home and contents compared with a national average of 83 per cent.

“Bushfire is a standard inclusion in household insurance policies, yet the very low level of awareness is concerning because it shows West Australians aren’t reading and understanding their Product Disclosure Statements to make sure they’re covered for what they need,” Mr Whelan said.

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