Is your property protected against hailstorms?
If you own investment property in Western Australia, it’s important to understand the potential risks in order to prepare for and prevent them.
When considering risks to WA property, extreme weather events must be near the top of the list. Our state is often battered by severe storms, flooding and other natural disasters.
However, while rain, fire and wind are often treated as the largest weather-related risks to property, many business and home owners in Perth fail to consider the devastating effects of hail in the region.
A hailstorm can be one of the most significant loss-causing weather events, according to the Insurance Council of Australia (ICA), causing severe damage to property, vehicles and infrastructure.
The importance of ensuring hail cover is included in business insurance in Perth was brought to light in March 2010, when an intense hailstorm resulted in more than a quarter of a billion dollars in damage.
As part of a series of storms passing through Western Australia on March 21 and 22, 2010, the hailstorm threw stones as large as golf balls, causing extensive damage to property across the state – including schools, hospitals and power infrastructure.
While adding hail and weather cover to your investment property insurance, prevention is often more effective than recovery after the fact. To support this, the ICA has released a number of tips to help property owners protect their buildings and infrastructure from the damaging effects of hail.
Understand the risks
While hail is infrequent and unpredictable, taking the time to learn about the history of hailstorms in your area can help you decide what steps to take to reduce the vulnerability of your property.
Protect your roof
By ensuring you use and correctly install suitable roofing materials, you can protect not only the roof but also the interior of the building by decreasing the risk of a breach during a hailstorm.