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Flood Insurance Lawyers

We all would like to own a home with a water view or one of those homes built next to or close to a river. If you own a home with a water view your property may be listed in a flood zone.

Many properties in the Tweed Shire and surrounds are subject to flooding.

The notations on valuations and searches alike may refer to “one-hundred year flood” (1-100 year flood). Contrary to popular belief this does not mean that there is a chance of a flood every one hundred years; instead it means that there is a one in one-hundred (or 1%) chance of such a flood occurring in any given year.

“The one in 100 years term has been grabbed from mathematics and risk analysis and used inappropriately, and now I think the scientific community should be making it clear there is a 1 per cent chance it could happen in any given year,” (Professor Mallet – Queensland University)

A 20-year flood has a one in twenty (or 5%) chance of occurring in a particular year so it would be a less destructive flood than a 100 year flood while a 500-year flood has a one in 500 (0.2%) chance of occurring so it would be much more catastrophic than a 100-year flood.

If the home you are building is in a flood zone the Council may impose restrictions as to the minimum floor levels and the height of the levels above the ground in accordance with guidelines applicable in the specific area.

If you are buying an existing property, you may find that whilst the property may previously have not been in a flood zone, due to new guidelines, the property may now be in a flood zone. This does not mean that the Council will require you to make structural changes to the property, however, extra care should be taken to ensure that you are aware of the risks of floods and to take proper precautions to protect your property in case of a flood.

The zoning of your home may also affect the premiums you are required to pay for your home insurance and this is also something to consider before you commit to a purchase.

If you require any assistance to determine whether your property is in a flood zone, please contact our Property and Commercial department on 07 5536 9777 or email info@attwoodmarshall.com.au for assistance.

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Jeff Garrett

Jeff Garrett

  • Legal Practice Director
  • Direct line: 07 5506 8201
  • Mobile: 0419 304 174