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Tasmania tackles underinsurance with new toolkit

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A new Insurance Checkup website is allowing Tasmanians to assess their insurance and receive a personalised, step-by-step checklist of things to consider.

The new service comes after previous natural disasters have shown underinsurance can be significant, Federal Minister for Emergency Management David Littleproud says.

“The toolkit we are launching today will help Tasmanians make informed decisions about their financial protection in the face of natural disasters,” he said.

The website, aimed at encouraging households and business owners to think more about whether they are appropriately insured, was jointly funded under the Commonwealth-State Disaster Recovery Funding Arrangements (DRFA). The checklist is backed up by relevant fact sheets with easy-to-follow information to help people make informed choices when purchasing or reviewing their insurance.

A supporting awareness campaign called “she’ll be right, until it isn’t” encourages people to use the Insurance Checkup to prepare.

“Having the right insurance will help you repair, rebuild, replace and recover,” the website says. “Whether you're a renter, homeowner or run a business, the Insurance Checkup can help you to understand what level of insurance you need, how to find the right insurer for you, and what to do if you are affected by an emergency.”

See the website here.