Two thousand claims have already been lodged but cyclone Debbie's damage bill will take weeks to calculate especially with more flooding expected as the now-low pressure system heads south.
Authorities are warning the former slow-moving category four cyclone, which is now a rain depression, will cause flash flooding in the state's southeast.
The clean-up from Cyclone Yasi cost insurers about $1.4 billion but it is "much too early" to estimate how much destruction Cyclone Debbie has caused, the Insurance Council of Australia says.
"The storm's impact is still being felt across wide parts of Queensland," ICA spokesman Campbell Fuller told the ABC on Wednesday.
"We are seeing flood waters rising in the state and storms to reach as far as Brisbane.
"It is a big weather pattern and the effect will be felt for days to come and it may take weeks before we get a full assessment of the damage."
Mr Fuller advised people to safely gather as much evidence of damage as they could before contacting insurers.
"They have received 2000 claims so far, call centres are not inundated with calls, there are no delays," he said.
Rainfall between 150mm and 250mm has been forecast by the Bureau of Meteorology, with the Sunshine and Gold Coast hinterlands warned to prepare for the impending deluge.
Cyclone Debbie was declared a catastrophe by the ICA on Tuesday.
