EBM Insurance and Flood Cover

I have read that Flood Cover is now compulsory following the Queensland Floods.

Can anyone confirm that this is included in the EBM RentCover Platinum Policy?

Many thanks in advance

 

No flood cover with EBM, TS does & is Suncorp backed.

 

I thought that changes following the Queensland floods made it an inclusion in policies

 

You can always just get the EBM Rent Cover part, i.e. for our Brisbane properties we use AAMI for the general peoperty insurance (as they have flood cover), then the EBM Rent Cover as a top up bolt on in leiu of AAMI's own Land Laord protection add-on.

 

Go to website, download latest PDS and check what flood cover is included in policy.

 

Correct that not currently in the RentCover policies however it has been confirmed that the introduction will be early 2017, date to be confirmed.

In regard to flood cover being compulsory, no. What came in was a standard government issued definition of flood so that there weren't different interpretations, all Insurer's must now use the same definition.

 

Hi Brett, thanks for the reply. I'm about to buy a policy. Will the flood cover be automatically included when it come in in 2017 or will there be an option to have it included in existing policies

 

Unfortunately due to reinsurance issues the flood cover (and some other new features by the way) won't be able to be automatically included into existing policies. What's being finalised now is the precise implementation which will need to address these sorts of issues.

 

It's been confirmed that existing policyholders will be able to upgrade their policy to include it on request.