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The tragedy yet to come to Qld.

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hershy
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Username: hershy

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Sunday, January 16, 2011 - 12:23 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Some of you may known I work in insurance, house insurance to be exact so my understanding of what is yet to come.
Let me start with the good news - cars damaged by flood are covered. Most homes however are probably not.
Most policies exclude damage caused by flood. The definition of flood being a body of water breaking it's banks. That would be what damage most of the home is Qld and downstream in NSW, Vic and some part of Tassie.
When you see photos showing the devastation caused by the flood what do you notice first ? All the roofs barely above water. 99% of those buildings are now history and are unlikely to be in a condition to be rebuilt. The fortunate ones, those who only had a relatively small amount of water going through their house for just a small period of time will find all their furniture, appliances, clothes, foods garden tools, swimming pool pumps un-repairable; their pools so full of debris that emptying them will require much more than just draining the pool. All windows and doors would now be history, blown out by the force of the flood, al plaster wall soaked beyond recognition; carpets and insulation and most likely all electrics - history If the home is deemed repairable they will need to wait for moisture levels in concrete, bricks, timber to drop bellow levels where repairs will be possible. . That will take anywhere from 8 to 16 weeks or more. I'll say it again, 2 to 4 months at least. Those buildings with roofs showing will most likely have to be pulled down. Rebuilding will not be possible until the soil dries and that could take as long as 2 years.
No consider this: Mom and Pop, have borrowed on their house to buy a business. The flood has destroyed their stock which is yet to be paid for to the suppliers. The fixture and fittings and equipment are gone. More likely than not, their home which has been damaged by the floods - and not covered by insurance is now worth 20% what they owe the bank, their business possibly worthless. With no income to pay the mortgage, Mom and Pop will go the bank in a couple of weeks and give the keys to the house and the business to the manager and tell him the bank now owns the house and the business.
We will be seeing refugee camps where these unfortunates will have to be housed. They will get a benefit from the government which will be far too little to live on. The ponds of water that will stay on the surface for months and months will be a breeding ground for mossies and Ross River and Dengue fever may become epidemics. We do not know if the water supplies are untainted. The innumerable drowned livestock bodies will start to rot wherever the flood left them becoming a health hazard. Septic tanks would have leaked into the flood waters ad their contents are not known to beneficial to health.


It is estimated - and this very early day as yet that it will cost 3o billion dollars to rebuild Queensland.
NSW, VIC and TAS are not included.

I tell you guys, my heart is breaking for these unfortunate folks. My work load will be incredible, I will be doing at least 10 hours of overtime per week and I am donating all my overtime pay to flood victims.


"It is highly unlikely God's plans for the universe include making you rich."
http://members.optusnet.com.au/~hershy/

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jaded
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Sunday, January 16, 2011 - 01:38 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Hershy,
A Brisbane Flood is not a torrent of water rushing thru houses.It's a rising water level Pond.Water creeps up and falls away leaving feet/metres of mud.

It doesn't take out windows or cause structural stress at least by water Force.

Yes it destroys plaster board,demolishes chipboard kitchens and cupboards built in but you are not talking about houses being demolished by Brisbane Flood Waters.
That was out of town in towns caught in direct local creek flash floods such as Grantham and Murphys Creek.
These towns are on the slope of the Great Divide and suffered by Gravity wooshing down a Rain Concentration in their creek's catchment area of something like 250mil/10 inches in an hour or something.

I say again,a Brisbane Flood does NOT cause the damage to houses a Raging Torrent Path does.

I bought a flood house after 1974.It'd had most of it's walls replaced from Plaster Board to Fibro 'stuff'[probably asbestos]This would resist innundation and should be able to be simply repainted as a 'repair'.Any improvements I did in the house were Solid Timber not Chipboard.I got into the Antique Trade because I furnished in Solid Timber Period Furniture,attended auctions and got a 'education' that led my wife and I into shops and eventually auction organising.

Anyhow,we sold our 'flood' home to a buyer reassured that Wivenhoe Dam meant never again.Most people believed that and now it's been proved 'misleading'.

After the 74 flood it took at least a decade or more for "Prestige" Flood areas,inner cityish like ours[Lowside Graceville/Chelmer] to recover their property prices.
Even when we bought in 1984 [10 years after]it was still an issue that a buyer could hard bargain with.
It wasn't til Brisbane got invaded by the dang southerners in our property market that things picked up.Fresh Meat,willing to buy 'cheap' inner city properties,renovate,get river views etc etc and in the years 99-08 the old flood areas boomed.They were knocking down workers cottages and putting in mansions or appartments.We sold and moved to a Bundaberg Hilltop Forever Flood Free.
It should also be noted that this 99/08 was a Drought Period and there was no experience being had of a Brisbane/Queensland full blown Wet Season.

Anyhow,Hershy yes the Insurance Companies won't be paying out.

In 1974 it seems there was a gov't programme that organised gangs to go in and do basic repairs.This is what happened for the Christian Pensioners we bought our house from,at least.

I think the cost of repairs was relatively 'reasonable' back in those days before the Renovation,Be a Landlord Mania and Aspirational Housing being required by today's 'average' home owner.
You can't go Solid Wood for one thing.

just a sunday afternoon reminiscence







" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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hershy
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Username: hershy

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Sunday, January 16, 2011 - 04:54 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



You are right Jaded . I was not thinking of Brisbane. That section of the river where the rich boys live will see squillions spent on legal battles with the insurers.
Another tragedy is those who pray on the unfortunates. Every crook tradie will be heading up north. They will be doing really shoddy work, overcharge for it and disappear.
Anyone needing a fridge, oven, washer, aircon etc, better buy it soon as there won't be enough to go around for a while.


"It is highly unlikely God's plans for the universe include making you rich."
http://members.optusnet.com.au/~hershy/

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jaded
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Sunday, January 16, 2011 - 05:38 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




hershy wrote on Sunday, January 16, 2011 - 05:54 pm:

I was not thinking of Brisbane. That section of the river where the rich boys live will see squillions spent on legal battles with the insurers.




Hershy,most riverside mansions,real mansions[not ersatz Mc Manshons] but owned by the truly rich [not Debt rich and mere aspirational property developers etc]

Most such mansions are in enclaves that are either Flood Free [example High Side Chelmer/Graceville] or mixed in with 'normal middle class homes [Fig Tree Pocket]Brisbane doesn't have streets of mansions in a suburb like Vaucluse or Toorak whatever.The closest we have to such is Ascot or Hamilton and their mansions are way out of the flood.

No it's been the aspirational suburbs of Bulimba,Jindalee,Bellbowrie that have been hit.Thousands of homes mainly occupied by Blow Ins ie not born and bred.
Came here after expo 88 when they thought the place was now 'civilised'.
btw Hershy,my house and a lot of the ones today have also been submerged to the roof line and beyond.I didn't want you to get the impression that a Brisbane Flood is restricted to a floor board lapping.

Anyhow,I'd be careful buying a used car in the future,too.Even fancy models can be 'cost saving' uninsured.

Re electrical appliances-back in the 74 flood 'victims' were advised to wash and dry out these because they still could work 'safely',maybe get them checked?lot cheaper than replacing them.

Today they got an army of volunteers all gung ho to Clean the place out,have no idea of trying 'restoration',repair,Why?won't insurance pay for it?maybe not,hey hershy?

I wonder how all those who took up the Harvey Norman Buy Interest free for 3 years will go with a debt on all their ruined household goods still due?Will they be able to replace under the same 'deal'?
Will it affect the Harvey Norm share price?


" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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jaded
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Friday, January 21, 2011 - 08:32 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Latest Flood Insurance 'scam',Hershy is to do with Apartments.
Seems Body Corps haven't been able to get Flood Insurance so any damage to the Common Areas will have to be repaired at the unit holders expense by Levy being imposed.

Common area and property includes Lifts,Power Plants,Swimming Pools and outside structure.Considering many apartment blocks were flooded in the basement,many of their utilities,expensive machinery were effected but uninsured.

Strata Titled Apartments have their own unique problems in ownership.Buyer Beware,hey?







" Hear what you Say...
But see what you Do!"

Sir Zelman Cowen c 1970.

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hershy
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Friday, January 21, 2011 - 08:07 pm:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



No scam Jaded.
Most insurance companies that cover Strata contents will cover anything that the Body corp insurance does not. That would include wooden flooring, carpets maybe the oven but no building items like a lift or the paving on their balcony. They cannot buy building insurance because supposedly the Body corp insures the building. It is when the body corp only covers common areas that people need to be properly advised. People who buy strata units need to be very, very careful of what cover they buy for themselves.
Like you say, caveat emptor !


"It is highly unlikely God's plans for the universe include making you rich."
http://members.optusnet.com.au/~hershy/

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