Each year, communities along Queensland’s northern coastline brace themselves for storm and cyclone season. Suncorp believes that with planning and preparation, the risk is reduced, and homes and communities are safer so our customers and communities can bounce back quicker.
Our Protecting the North program aims to reduce the damage cyclones can cause to houses, as well as making insurance more accessible with new, innovative products and features. We partnered with the Cyclone Testing Station (CTS) at James Cook University (JCU) and Urbis to analyse insurance claims data so we can better understand cyclone vulnerabilities in homes, and what we can do to make them stronger.
Suncorp has also introduced Build it Back Better™ – an Australian first for Home Insurance. It’s our commitment to help create more resilient homes. It means that if your home is substantially damaged, we’ll rebuild it stronger with recommended resilience options, in addition to your sum insured, all designed to help withstand severe weather.
#Our Protecting the North program includes:
Recognising cyclone mitigation work
Our research shows that simple, low-cost mitigation can pay for itself after just one cyclone. Our Cyclone Resilience Benefit rewards customers in North Queensland with premium reductions of up to 20 per cent for making their homes more cyclone resilient.
Suncorp Strata Insurance
Our strata insurance product provides cover for small residential strata titled properties, community titled properties or residential properties associated with a body corporate or owner’s corporation (up to 10 units or $5 million sum insured).
Affordable insurance for low income earners
Suncorp teamed up with Good Shepherd Microfinance to offer low-income earners with contents and motor cover from as little as $4 a week. The award-winning Essentials was created to provide better access to affordable, easy-to-understand products via a trusted network of providers.
Affordable finance options
Suncorp provides a no-fee, low-interest bank loan designed to help North Queensland customers finance mitigation improvements made to their homes to make them more resilient to cyclone damage. The new low-cost personal loan features an interest rate of 4.99 per cent per annum and Suncorp waives all establishment and account keeping fees
Suncorp commissioned reports and research