Flood insurance wins shonky award

Flood insurance is so confusing it's been named as among Australia's worst products, alongside a weight-loss nasal spray and quail eggs to cure erectile dysfunction.

Consumer group Choice has awarded eight lemon trophies this year for dodgy, dubious and deceitful goods and services as part of its sixth annual Shonky Awards.

In the wake of the summer floods in Queensland, NSW and Victoria, the insurance industry is held in such low regard it has been lumped alongside products such as crystal encrusted baby dummies and underpants that fix cellulite.

Choice said the 2011 floods left homeowners in three states without cover as insurers dodged their responsibilities.

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Related information

• The meaning of flood and defining it for insurance purposes

• Natural disasters: Getting Insurance Companies to Pay Up

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