Insurance, banking and financial hardship - disaster advice

Consumer Affairs ��ɫ��Ƶ can help with insurance, banking and financial hardship issues in a disaster, such as a storm, flood, bushfire or earthquake.

Insurance

If you have insurance, contact your insurer to lodge a claim before you start any major repairs. Your insurer will have a copy of your policy.

Take photos before cleaning up and make a list of everything that has been damaged.

It is important to lodge a claim, as it means:

your insurer must assess your claim and decide if you are covered
if you are not satisfied with the outcome you can seek a review through your insurer's internal dispute resolution system – the Australian Securities and Investments Commission (ASIC) has information about how to make a complaint.

If you are still not satisfied after making a formal complaint, you can visit the or call 1800 931 678.

Form more information about:

flood and storm damage insurance
claiming on home insurance.

visit the .

Banking and loans

Banks, building societies and credit unions have financial hardship arrangements for people affected by disaster.

They also have dedicated numbers for affected customers to call:

Bank	Telephone
ANZ	1800 149 549
Bank Australia	13 28 88
Bank of Melbourne	1300 020 266
Bank of Queensland	1800 079 866
Bendigo Bank	1300 652 146
Citibank	13 24 84
Commonwealth Bank	1300 720 814
Credit Union Australia (CUA)	13 32 82
Heritage Bank	1800 222 030
HSBC	1300 555 988
ING	1300 349 166
MyState	13 80 01
NAB	1800 701 599
Rabobank	1800 025 484
Suncorp	1800 225 223
St George	1800 629 795
Teachers Mutual Bank	13 12 21
Westpac	1800 067 497

Applying for a hardship variation

If you are not able to negotiate a suitable arrangement with your credit provider, you have a legal right to seek a 'hardship variation'.

This is a formal process where you ask your credit provider to vary the terms of your loan contract.

You can ask your credit provider to vary your contract in one of the following ways:

postpone your repayments (with interest being added onto your loan)
allow you to make interest-only repayments for a period
extend your loan period (which means you will pay less in each repayment over a longer period of time, though more interest in the longer term).

After you apply for a hardship variation, the credit provider must respond to your request in writing within 21 days.

If your credit provider refuses your hardship application, it must give reasons.

If you think the reasons provided are unfair, you can complain to an independent dispute resolution scheme such as the Australian Financial Complaints Authority on 1800 931 678.

The National Debt Helpline on 1800 007 007 can provide more information about help available if you cannot pay your debts.

Other resources

or call 180 22 66

or call 1300 728 228

for information about what support the banks are offering

or call 1800 931 678

or call 1800 007 007

for free legal information about insurance and related issues or call 1300 792 387

for free legal advice, assistance and referrals for ��ɫ��Ƶns affected by disasters or call 1800 113 432.