RACQ backs Queensland’s Resilient Homes Fund
One of Queensland’s leading insurers, RACQ has partnered with the State and Federal Governments to deliver an Australian-first resilience program.
Developed in response to the devasting February floods, the Resilient Homes Fund offers funding to help flood-affected homeowners improve the resilience of their homes.
RACQ Chief Executive Officer David Carter said the program is an important step in making south east Queensland stronger in the face of future weather events.
“Building a resilient community is a shared responsibility and we commend the State Government’s proactive efforts in establishing this program and securing federal funding,” Mr Carter said.
“Prevention is better than a cure, and as the east coast prepares for a third consecutive La Nina this summer, any measure which makes homes more resilient is a great outcome for all Queenslanders.”
Since the program’s announcement earlier this year, Mr Carter said RACQ had been working closely with the government to ensure the program delivers the best outcomes for members.
“This is a bold, new initiative, which has required collaboration across government and insurers to ensure a practical and streamlined implementation.
“Together, we have developed a process to ensure retrofit resilience works can be carried out on a home in parallel with a claim being progressed.
“Ensuring a positive member experience is our key priority, and we will be working closely with our eligible members to ensure a seamless inclusion of resilience upgrades into their claims process.
“Members who have had their claim finalised, will have the option to speak directly with the Government on what resilience options may suit their individual circumstances. We will support members any way we can, whether that’s through sharing information on their repairs, or making them aware of their eligibility.”
Since the February floods, RACQ had finalised 60% of home insurance claims and continues to have teams on the ground supporting members.
“We know Queensland will continue to face more frequent and severe weather events, and the Resilient Homes Fund will act as a blueprint to make communities more resilient and reduce the physical, financial and emotional impacts of natural disasters,” Mr Carter said.
Under the Resilient Homes Fund, funding is also available to assist eligible flood impacted homeowners to retrofit or raise flood-affected homes. Buy-backs will also be considered on a case-by-case basis and are voluntary.
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