- Summer catastrophe losses hit $1.2 billion March 5, 2024 - The claims cost of Christmas and New Year floods and Cyclone Jasper has reached $1.2 billion, with 28% of cases already closed, according to the Insurance Council of Australia. The figure is up from a first estimate of $743 million in January. “The increase in insured losses shows insurers have assessed costs and are actively working with local authorities, builders,… ...
- Hawaii fires ‘portent of what Australia will experience’ August 11, 2023 - 11 August 2023 The destructive wildfires in Hawaii are a reminder to Australia of the risk it faces this summer as the threat of El Nino looms, a University of Tasmania fire science expert has warned. Professor of Pyrogeography and Fire Science David Bowman says the tragedy in Maui is “a portent of what Australia and other countries will experience… ...
- Australians urged to recalculate their contents insurance March 13, 2020 - Homeowners and tenants have been urged to revisit and recalculate their home contents insurance, in light of the increasing number of wild weather events, including the recent catastrophic bushfires, hailstorms, and floods. Mike Bartlett, Sum Insured commercial director, said about 30% (about 2.7 million) of the nine million plus Australian households that could potentially purchase contents insurance did not have… ...
- Replacement costs stay level June 16, 2019 - New research released by Sum Insured in June showed that the actual cost of replacing household contents in the event of an insurance claim has remained relatively stable in the past year. Sum Insured’s Australian Residential Contents Index (RCI) provides a statistical measure of the movement in household contents replacement costs. “Our research found that replacement costs have increased by an average of… ...
- Data reveals extent of rising replacement costs July 4, 2018 - A new report is highlighting the rising cost of replacing home contents after analysing figures from the past 10 years and comparing them to recent data. According to specialist research firm Sum Insured, it now costs almost $15,000 more to replace the contents of a typical home than it would have done in 2007. There has even been a notable… ...
- Tool launched to help brokers reclaim domestic market February 3, 2018 - Sum Insured has launched a new online calculator designed to improve efficiency and reduce underinsurance for broker clients. The new tool, called Contents Insurance Replacement Cost Address (CIRCA), allows clients to receive an estimate of their home contents cost using only their address. Mike Bartlett, commercial director of Sum Insured, said that the tool could help brokers win back market… ...
- Australians plug in for more home electronic equipment August 4, 2017 - Australians appetite for computer and electronic equipment continues, according to Sum Insured’s annual Australian Residential Contents Index (RCI). Sum Insured’s Residential Cost Index (RCI) research measures the movement in home contents replacement costs in Australia. The latest RCI revealed replacement costs fell marginally by 0.3% in the 12 months to July – a year after rising by 3.4% in 2015-16.… ...
- Home Contents Update October 25, 2016 - Don’t forget to insure the things you don’t see everyday! Sum Insured specialises in the research and production of building contents replacement cost information and web based expert calculation systems that help people to correctly insure their homes and in so doing avoid the financial difficulties that can result from being underinsured. With the summer approaching many people’s minds start… ...
- Contents insurance is a dangerous guessing game for Aussie households June 17, 2016 - EXCLUSIVE SEVEN out of 10 Australians are putting tens of thousands of dollars at risk because they guess the value of their home’s contents for their insurance. And almost half of them have no idea how much their stuff is worth or believe they have underestimated its value, according to new research by Understand Insurance. It also found that 53… ...
