Australians unprepared for hailstorm season – QBE
Australians unprepared for hailstorm season – QBE | Insurance Business Australia
Catastrophe & Flood
Australians unprepared for hailstorm season – QBE
This is despite growing concern for impacts of extreme weather events
Catastrophe & Flood
By
Roxanne Libatique
Australians have become more concerned about extreme weather events, yet they remain unprepared for the hailstorm season, according to QBE’s latest research.
QBE surveyed 1,001 Australians over 18 years old across regional and national areas until August 2023. It found that 71% of the respondents are “feeling somewhat to very concerned” for the impacts of natural disasters on their homes. Meanwhile, 36% of the respondents said they were more concerned now than they were 18 months ago.
Despite their concerns, the respondents remained unprepared for natural disasters, including the hailstorm season ranging from October to January. More than half of the respondents (59%) claimed they were only “somewhat” prepared for natural disasters like hail, while two in three did not have a plan at all.
Hail-related insurance claims
QBE revealed that 53% of the respondents who have lodged an insurance claim identified hail as the reason behind their property or vehicle damage, compared to 48% who pointed to floods, bushfires, and storms combined.
QBE hail claims data 2022 and 2023 YTD also revealed that over 3,000 hailstorm-related claims have already been lodged this year, with a total claims value of over $70 million and an average cost of $21,000 per policy. In 2022, 43% of hailstorm-related claims were made in January and October through December.
“With the increased threat of hail approaching, it’s wise home and vehicle owners get proactive and take measures to better prepare and protect their assets. Simple things like setting up weather alerts or getting your car to an undercover carpark before hail strikes can help protect your vehicle from damage,” said Arron Mann, general manager, claims, QBE Australia Pacific.
How to prepare for natural disasters
With Australia facing hailstorm season, QBE advised Australians to prepare by:
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