Victoria floods: How much food spoilage will your home insurance cover?
Home insurance could reimburse you for up to $2,000 for food that's gone to waste.
Severe storms across Victoria have left tens of thousands of residents without power as major flooding continues to cause havoc across the state.
The Insurance Council of Australia (ICA) has declared it an insurance catastrophe, meaning that providers will prioritise affected policyholders in the areas impacted by the storms and flooding over the past few days.
According to the Energy Minister, on Monday afternoon, more than 25,000 properties did not have power, with the majority of those affected based in the Dandenong Ranges area. Over 6,500 claims have been made in the past few days, the ICA reports, with more expected in the coming days.
Power outage? You can also claim for food spoilage with home insurance
If you have home insurance, you likely know that your policy covers storm or flood damage. However, it's not all it can help out with, especially during a power outage.
For instance, if you're one of the 25,000 properties without power right now, it's likely that a lot of food has gone to waste — but home and contents insurance can help with that. We looked at all of the home insurance policies featured on Finder and found that all 11 can cover you for food spoilage.
| Insurer | Am I automatically covered? | How much am I covered for? | Apply |
|---|---|---|---|
 | $500 | Get quote | |
 | $500 | More info | |
 | $500 | Get quote | |
 | $500 | Get quote | |
 | $500 | Get quote | |
 | $2,000 | Get quote | |
 | $500 | Get quote | |
 | $1,500 | Get quote | |
 | $1,000 | Get quote | |
 | $1,000 | More info | |
 | $2,000 | Get quote |
Several policies, including Budget Direct, Australia Post and Virgin, can give you up to $500 towards refrigerated and frozen food. If you already have a policy with them, you'll find that it's automatically included.
Other policies can pay you even more. "Some home and contents insurance policies come with food spoilage cover for as much as $2,000. Others can even replace refrigerated prescription medicines," says insurance expert Taylor Blackburn.
Home insurance can also cover tree damage
"It's not the only way home insurance can come in handy. For example, if a tree falls because of a storm and damages your property, a policy can pay to have your home repaired," added Blackburn.
Even if it's a neighbour's tree that falls on your home because of a storm, you'll still be able to claim in the vast majority of cases. That's because it's considered an "act of nature". But if you don't have insurance in place, it'd be your responsibility to foot the bill.
If you're a home and contents insurance policyholder then, it pays to know what you can claim for. Make sure you read your product disclosure statement and consider switching to another policy if yours doesn't include the amount of cover you need.
