RACQ settles majority of flood-related motor claims

The State’s largest car insurer, RACQ, has now settled more than 80% of its motor claims two months on from the devastating flooding this year. 

RACQ’s General Manager of Claims Trent Sayers said almost $36 million had been paid out to members for motor claims.

“Of the 2,654 car insurance claims we have received so far, the majority have been finalised through total loss cash settlements,” Mr Sayers said.

“We’re processing claims as quickly as possible to help members get back on the road following one of the largest flooding events in Australia’s history.

“We’re also glad to hear RACQ flood-affected car owners have been taking advantage of our agreement with dealerships including Eagers, Autopact and Motorama who are helping our members find a replacement vehicle.”

Mr Sayers said the Club has also completed 67% of home assessments for flood-affected properties.

“We bolstered the number of builders on our panel before the summer storm season, however the sheer volume of claims, as well as the significant strain on labour and materials prior to this event, means it is going to take longer than usual for repairs to be completed,” he said.

“The building boom and the COVID pandemic have contributed to driving up demand for trades and materials, and this extends wait times and increases costs. Overall, construction material costs have risen around 20% in the past two years, with steel prices jumping 60% since 2020.  

“Our assessors are prioritising vulnerable members in our community, while our builders are continuing to process scopes of works and proceeding with repairs. 

“We understand this is a challenging time and we’re committed to being there for impacted members during this process, as well as continuing to serve those with existing insurance claims outside of the flood event.”

To lodge a claim with RACQ click here.