BE WARY OF CASH SETTLEMENTS: SCHWARTEN
Published Friday, 04 April, 2008 at 10:00 AM
Minister for Public Works, Housing and Information and Communication Technology
The Honourable Robert Schwarten
Housing Minister Robert Schwarten has today warned Mackay homeowners affected by the floods to consider very carefully before agreeing to cash settlements with their insurers.
Mr Schwarten said cash settlements might seem like a quick fix but more often than not would lead to problems.
“Our experience with Cyclone Larry has taught us that cash settlements are not the way to go,” he said.
“Often the cash settlement runs out long before the work has been completed, leaving a homeowner with a partially completed house, or the money can be eaten up quickly by any number of other temptations.”
Mr Schwarten said flood affected homeowners with questions about cash settlements or other repair or insurance issues should visit the Mackay Rebuilding Coordination Centre.
He said an independent insurance advisor was available through the MRCC to answer their questions.
“The insurance advisors are experienced people who are not tied to any company involved in the region, so they are able to give advice to anyone with insurance problems,” Mr Schwarten said
The centre is located at Shop 10, Porters Plaza, 36 Carlyle Street, Mackay, or phone 1300 727 795, and visit http://www.buildingcoordinationcentre.qld.gov.au/
Media contact: Minister’s office: (07) 3237 1832
Mr Schwarten said cash settlements might seem like a quick fix but more often than not would lead to problems.
“Our experience with Cyclone Larry has taught us that cash settlements are not the way to go,” he said.
“Often the cash settlement runs out long before the work has been completed, leaving a homeowner with a partially completed house, or the money can be eaten up quickly by any number of other temptations.”
Mr Schwarten said flood affected homeowners with questions about cash settlements or other repair or insurance issues should visit the Mackay Rebuilding Coordination Centre.
He said an independent insurance advisor was available through the MRCC to answer their questions.
“The insurance advisors are experienced people who are not tied to any company involved in the region, so they are able to give advice to anyone with insurance problems,” Mr Schwarten said
The centre is located at Shop 10, Porters Plaza, 36 Carlyle Street, Mackay, or phone 1300 727 795, and visit http://www.buildingcoordinationcentre.qld.gov.au/
Media contact: Minister’s office: (07) 3237 1832