Over 90 per cent of flood-related motor insurance claims settled by RACQ

The Royal Automotive Club of Queensland (RACQ) has settled more than 90 per cent of claims made for damage to cars caused by flooding in the state earlier this year.

Major flooding in February caused a significant spike in motor vehicle claims, with more than 22,500 claims related to the events in south Queensland and New South Wales filed by March.

The RACQ is one of the area's biggest insurance groups, with the company reporting it received 2667 claims alone off the back of the floods.

However, despite the higher than normal demand for claims to be processed, the insurer has now said over 90 per cent of those made have resulted in total loss cash settlements.

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“We’re processing claims as quickly as possible to help members get back on the road following one of the largest flooding events in Australia’s history,” said RACQ’s General Manager of Claims, Trent Sayers.

“We understand this is a challenging time and we’re committed to being there for impacted members during this process, as well as continuing to serve those with existing insurance claims outside of the flood event.

“RACQ flood-affected car owners can also take advantage of our exclusive agreement with dealerships, including; Eagers, Autopact and Motorama, making the search for a replacement vehicle a little easier.”

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Photo via Defence Images

After the rain had eased in March this year, automotive industry groups warned the demand for replacement vehicles could add further delays to the already crippled supply chain of new cars.

Ongoing production stoppages and transport delays overseas have impacted almost every new car coming in to Australia, with a majority of the top 20 models on sale facing some kind of extended wait.