Highlights
- Insurance doesn't cover the damage caused by rats and other pests.
- However, some companies will cover water and fire damage that results from rodent damage.
- Depending on the extent of damage, repairs and cleanup can cost up to a minimum of $5,000.
'May PERAan' is SBS Filipino's podcast series which features financial experts seeking to answer the most common questions about money and finances.
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"Generally speaking, pests and rodents are excluded from property insurance; so it's recommended that home owners move on their own and do a check at least every year. Of course, checking will depend on where you live."
Insurance adviser Richard Labrador gives advice on what your insurance can cover should rats and other pests damage your property.
"Insurance won't cover the costs of replacing wiring, clothes or food that rats and other pests chew on.
Richard shares that although chewed-up wiring and pipes aren't covered by insurance, the water or fire damage that result will be.
"Triggers such as water or fire damage that result from rodents chewing on pipes or electrical wiring are covered."
He estimates that rodent damage may cost a minimum of $5,000 depending on the area and extent.
"If there's a mouse plague, the Australian government is very supportive - in my experience.
"Make sure to listen to the news if your area is affected. Protect the things not covered by insurance.
"Make sure to keep your eyes out and lower your risk. Rats aren't the only animals you need to watch out for. There are also native animals that can cause damage to property, such as possums."
Disclaimer: The information in this article serves only as a guide. For additional information regarding your particular issue or situation, consult with legal, financial and/or tax experts.
