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Why is my Insurance Claim taking so long to finalise?

This is a question being asked quite frequently at present. Unfortunately many schemes, owners and occupiers are currently experiencing extended delays in having their claims assessed and repairs commenced following recent events. There are a number of factors that are contributing to this situation, predominantly the scale of damage caused by the recent flood and extreme weather events across South East Queensland and New South Wales  has seen resources stretched and placed incredible strain on an already interrupted contractor supply. You can then add supply chain issues, availability of materials and increased building costs on top of that to create somewhat of a perfect storm (pardon the pun).

To understand the process a little further once a claim has been lodged with an insurer often on more significant and / or more complex claims a loss adjuster / assessor is appointed who will then undertake an inspection of the property and the damage caused. A report will then be prepared which the insurer will consider in making any decision on the claim, in line with the terms of the policy. Given the scale of damage for many of the recent extreme weather events many claims are being assessed through such a process. It is important to consider that there is a finite number of these professionals that work with the respective insurers and despite many teams being brought in from interstate to assist there are only so many resources available. We are also aware of other experts such as hydrologists being requested to provide specialist advice for many claims.

Demand for experienced contractors and insurers panel builders is also high, meaning there are often lengthy timeframes for works to commence.  Certainly with the focus on insurance work and backlog of existing jobs some contractors are advising our office that they are no longer in a position to quote for jobs for the next immediate future.

We certainly appreciate that these delays can be frustrating nevertheless it is important to understand the scale of the situation and that delays are unfortunately unavoidable in some instances. Certainly it is helpful to understand that all parties involved are doing their very best under the current circumstances to help ensure the process is handled as swiftly and competently as possible.

While we thought it would be helpful to share this information of course if you do have any questions regarding the status of your insurance claim, please contact our dedicated insurance claims team today.