Fifty Rochester insurance claims to Bendigo Bank partner

By Rohan Aldous

Oct 24, 2022

Big wet: Homes and property at Rochester, inundated by floodwaters, have been the focus of insurance companies in the past week as evacuated owners return to their properties to assess the damage from the record flood event. Photo by Megan Fisher

Bendigo Bank’s insurance partner, CGU Insurance, had received 50 claims from Rochester policy holders by the close of business on Friday.

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All but three of those claims were for flood-damaged property, while the remaining three related to motor vehicle damage.

A spokesperson for Bendigo Bank said CGU had been a partner of the bank for 130 years.

“We recognise the significant impact that flooding can have, which is why we have committed to automatically include flood cover in all CGU domestic insurance policies arranged through the bank,” the spokesperson said.

Bendigo Bank is urging customers to contact CGU on 132 480 as soon as possible to lodge their claims, so CGU can provide immediate support, such as temporary accommodation.

“There is a team of experts standing by to take your call,” the spokesperson said.

CGU’s team of Partner Builders have been on standby throughout the severe weather event and have been assessing damage to our customers’ properties and conducting emergency “make safe’’ repairs where possible.

“Our priority is helping our customers recover from these devastating floods and we will continue to be on the ground supporting them in this process,” the spokesperson said.

“We activated our Assistance Package for flood affected customers on Thursday, October 13, and have continued to revise and update the support we are providing.”

The key features of the package are:

• Home Loan, Personal Loan and Business Loan customers can apply for relief on loans for up to three months;

• Discounted interest rates on new personal loans taken out by existing Bendigo Bank customers;

• Credit cards and business credit cards can apply for deferral of repayments for up to three months;

• Waiver of interest rate reduction for early withdrawals on term deposits prior to maturity;

• No “loan break” costs for customers with a fixed rate who use an insurance payment to pay out their loan;

• Merchant rental fees may be waived for impacted businesses; and

• Agri business customers can apply for relief on loans for up to six months.

The bank has also provided advice on what to do if your property is impacted by flooding:

• You can start cleaning up but first take pictures or videos of damage to the property and possessions as evidence for your claim;

• Keep samples of materials and fabrics to show your insurance assessor;

• Remove water-damaged goods from your property that might pose a health risk, such as saturated carpets and soft furnishings;

• Make a list of each item damaged and include a detailed description, such as brand, model, and serial number if possible;

• If water has entered the property, do not turn on your electricity until an electrician has inspected it;

• Store damaged or destroyed items somewhere safe where they do not pose a health risk;

• Speak to your insurer before you attempt or authorise any building work, including emergency repairs, and ask for the insurer’s permission in writing. Unauthorised work may not be covered by your policy; and

• Do not throw away goods that could be salvaged or repaired.

By Rohan Aldous

Contributor