RACQ settles more than half of flood-related motor claims
RACQ is continuing to support its members impacted by the devastating flooding in south east Queensland, settling more than half of the 2,600 motor vehicle insurance claims from the event.
General Manager Claims Trent Sayers said more than $28 million had been paid out to members for motor vehicle claims.
“Our assessors are working tirelessly to inspect damaged vehicles and process claims as quickly as possible with around 90 percent of damaged vehicles being deemed total write-offs,” Mr Sayers said.
“This means members can find a replacement vehicle and get back on the road sooner.
“We’re supporting this through our exclusive agreements with car dealerships, including Motorama, Eagers and Autopact, which provide impacted members with preferential access to a replacement.”
Mr Sayers said the recent weather event was shaping up to be one of the largest natural disasters in Australia’s history.
“In total, RACQ has received more than 14,200 property and motor claims from the event and we continue to receive new claims every week,” he said.
“RACQ has so far added around 140 extra staff to our claims team to bolster our response to this unprecedented catastrophe and we continue to recruit workers to ensure we can manage claims as quickly and efficiently as possible.
“We know this is an extremely challenging time for affected members and we’re prioritising those most vulnerable.
“Our assessors and building panel are responding to our large volume of claims and we want to reassure members that storm and flooding is covered as standard in RACQ home and motor insurance policies.”
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RACQ Operations Pty Ltd (ABN 80 009 663 414 AR 000234978) and Members Travel Group Pty Ltd (ABN 45 144 538 803 AR 000432492) are acting as an Authorised Representative of the issuer of the insurance, Tokio Marine & Nichido Fire Insurance Co., Ltd. (ABN 80 000 438 291 AFSL 246 548). Any advice set out above is general in nature only, and does not take into account your objectives, financial situation or needs. Before purchasing any travel products, please consider the RACQ Travel Insurance Product Disclosure Statement (PDS) and the Target Market Determinations (TMDs) that apply to these products. Whilst the PDS outlines the Terms and Conditions of these products, the TMDs outline the intended class of customers that comprise the target market for these travel products. This will allow you to consider which products best suit your objectives, financial situation and needs and consider the products appropriateness to your personal circumstances. TMDs also outline matters involving the distribution and the review of these products. The PDS, Supplementary PDS and TMDs for each travel product can be found here.