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Be prepared!

Date: Dec 12th, 2013

The recent bushfires in New South Wales have had a devastating effect, with insurance losses so far estimated at more than $183 million.[ 1] While loss of life has fortunately been minimal, many people have suffered the loss of their home and priceless memories.

By 2020, the annual cost of bushfires is estimated to rise to about $18 billion, with double the number of major events, a longer fire season and a 25 per cent increase in area burnt.[ 2]

Protect yourself in the short term…

It’s important to make short-term plans so you’re prepared for any immediate emergency.

  • Update your fire safety plan – it’s vital to know what you’re doing in case of an emergency.

  • Fire proof your property – make sure you minimise any risks and cut down vegetation where possible.

  • Store precious photos elsewhere or scan them into Cloud storage such as Flickr or Photobucket – you don’t want to be worrying about possessions if you have to act quickly.

  • Save important documents online – a secure and accessible Australia Post Digital MailBox is a great way to go paperless.


Stay connected

There are plenty of digital resources that can help you stay connected to the latest news during a bushfire emergency.

  • Google’s Fire Crisis Map shows the location and severity of bushfires across the country.

  • Emergency apps like EmergencyAUS, FireReady (Victoria) and Fire Near Me (NSW) can give you more detailed information about state and territory warnings.

…and the long term

It’s also a good idea to make long-term plans. After an emergency, there are huge demands on local services and tradies can be in short supply. It can take more than 12 months to repair or rebuild homes, according to the Insurance Council of Australia.[ 1]

Insurance can help you get back on your feet after suffering the ravages of a bushfire or other natural disasters such as cyclones and floods. The New Year can be a good time to review your home and contents insurance and make sure you’re fully insured.

It’s also a good idea to think about personal insurance. If the worst happens, and you’re out of action through illness or injury, insurance can help you pay the bills and put food on the table, while you’re getting back on your feet.

  • Trauma insurance pays a lump sum if you suffer an illness or injury covered in your policy.

  • Total and permanent disability insurance pays a lump sum if illness or injury prevents you from ever working again.

  • Income protection generally pays up to 75 per cent of your salary if you can’t work due to illness or injury.

  • Life insurance pays a lump sum to your beneficiaries (usually your family) in the event of your death.

Check out AMP’s Life insurance calculator to see how much cover you may need to fully protect yourself and your family.

Then call AMP on 131 267 or your financial planner to develop an insurance plan that fully covers you and your family.


What you need to know

Any advice in this document is general in nature and is provided by AMP Life Limited ABN 84 079 300 379 (AMP Life). The advice does not take into account your personal objectives, financial situation or needs. Therefore, before acting on this advice, you should consider the appropriateness of this advice having regard to those matters and consider the Product Disclosure Statement before making a decision about the product. AMP Life is part of the AMP group and can be contacted on 131 267. If you decide to purchase or vary a financial product, AMP Life and/or other companies within the AMP group will receive fees and other benefits, which will be a dollar amount or a percentage of either the premium you pay or the value of your investments. You can ask us for more details.

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