Eastern shore fires a timely reminder

Tasmanians are urged to remain ever vigilant to the threat of bushfires, with the blaze on
Hobart’s Eastern shore providing a timely reminder of the need to prepare your property
for the worst.

With memories of the 2013 summer bushfires still present, RACT Insurance CEO Trent
Sayers is urging all Tasmanians to check their home and contents insurance policy in
case of a bushfire and update it if necessary.

“The fires earlier this year are an example of just how quickly people can lose
everything,” Mr Sayers said.

“RACT Insurance received over 500 claims in the January bushfires, resulting in $17m in
payments being made to date.

“Over 50 per cent of claims have now been settled and finalised, but we expect the total
costs to come in at around $25m.

“Each year we see first-hand the devastation caused when a family is forced to start
again from scratch following a bushfire, and it is something that a lot of people never
really come back from.”

The Tasmanian Fire Service recommends a number of simple steps to help protect your
home, which can be accessed at www.fire.tas.gov.au or through your local fire brigade.
Mr Sayers also said the lack of adequate insurance amongst Tasmanian property
owners was a genuine concern.

“A lot of people either underinsure or go without insurance for various reasons, such as
escalating housing prices and costs of living,” Mr Sayers said.

“On building insurance products, non-insurance has been estimated at up to 5 per cent,
whilst for contents insurance this figure can be as high as 25 per cent.

“It’s very risky business, particularly when you consider how inexpensive home and
contents insurance actually is versus the financial and psychological costs of rebuilding
after a bushfire.”
RACT Insurance CEO Trent Sayers