Summer storms are coming – Here’s how to protect your property

As the chance of summer storms increases, so does the risk for areas in the country to experience flooding or hailstorms. Therefore, property owners must be more aware of the right coverage to insure against weather-related losses.

Now is therefore a good time to speak to an insurance broker who is an expert on the physical risk associated with natural catastrophes, Sharon Paterson, CEO at Infiniti Insurance Limited, says.

“Having a broker can help homeowners to manage their risk exposure by advising them on investing in long-term preventative measures to mitigate and reduce the impact of catastrophes. A catastrophe is determined by the rand value of claims caused by one event or weather pattern for usually around three days across more than one area and affecting more than one client.”

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High risk of flooding due to storms a concern

She points out that the short-term insurance industry is currently confronted with a high risk of flooding as these events are becoming more frequent. “Flooding must now be regarded as part of what we refer to as attritional losses, which are losses that we must expect to have and that we build into our rating structures.”

Paterson says the biggest challenge the insurance industry faces is to strike a balance between charging a reasonable premium for the cover provided and underwriting risk without prejudicing existing clients and not to sign up new clients in areas that are highly likely to be flooded.

ALSO READ: Insurers paid about R35 million in claims for November storm damage

With climate-related disasters becoming more common every year, homeowners must understand the threats their properties face and how to mitigate them. Paterson gives these five tips for property owners to manage flooding risks for their homes or business properties.

Maintain your property regularly, particularly your roof

“A small leak can result in water build-up that can result in ceiling collapse and water damage to the contents of your home. If your property is regularly damaged because it has not been properly maintained, you might well find that no insurer will provide you with insurance or that a claim as a direct result of the poor maintenance will be excluded from cover.”

Paterson says it also very important to make sure that the gutters are regularly cleaned of debris, particularly if you have lovely leafy surroundings.

Make sure that retaining walls are correctly constructed

If a retaining wall collapses, it can cause significant water damage to your home, she warns. 

“Retaining walls should be constructed to allow water to flow through. The same applies to perimeter walls. The perimeter wall is often a significant problem as in many cases these walls are not constructed properly.”

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Plant vegetation to prevent flooding during storms

Plant indigenous vegetation that is naturally adapted to your region’s climate and soil conditions, Paterson says. “Indigenous plants have deep roots that help absorb and retain rainwater, reducing runoff and erosion.”

Check the area before you buy or build

Paterson says insurance companies used to look at the 50-year flood line, but significant floods over the past few years have rapidly changed these flood lines. “Remember, if the area was flooded in the past, it is more likely to be flooded again.”

ALSO READ: Gauteng residents flood insurers with claims after hailstorm

Make sure draining systems are clear and gutters are clean

There were many discussions on the KwaZulu-Natal floods regarding infrastructure failure, such as blocked draining systems, Paterson says. “In some cases, people are not aware of the risks that they face or how best to mitigate those risks. 

“This is when the role of brokers becomes more critical than ever in educating clients to assess the risks and put mitigating steps in place and to update their cover and to ensure that they have the policy best suited to their particular risk profile. The broker must provide regular updates and advice on any adjustments to your cover as new risks emerge.”