Construction Industry
Insurance Built for the Construction Industry
Redicova offers the Construction Industry a parametric alternative to the traditional loss assessment model. Cover is triggered by a severe tropical cyclone.
We pay you a pre-agreed amount within three business days of receiving your claim, to cover your unanticipated expenses and lifestyle costs, with no delays or assessments.
By paying cash upfront Redicova strengthens your financial resilience and fast tracks your journey towards recovery.
How Redicova can help construction.
You are half way through a build or renovation when the worst possible thing happens, you are hit by a severe tropical cyclone.
All your work completed to date is destroyed and your traditional insurer is asking for your excess to be paid before they assess your claim.
If you have Redicova, funds can be used to pay your excess and/or uninsured losses immediately.
Redicova is the obvious solution for construction in the north.
Eligibility Checker
We insure Northern Australians between Carnarvon (WA) postcode 6701 to Bundaberg (QLD) postcode 4670 including the Northern Territory.
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I reckon Mackay is due for a blow. I purchased $5,000 cover to pay my traditional insurance excess and buy replacement food or a generator. I signed up as soon as I heard about Redicova.
Mackay resident | customer since January 2022
Recover quickly after a severe tropical cyclone
Insurance that pays faster
Redicova is a parametric insurance which means it offers pre-specified payouts when a trigger event occurs. So when a severe tropical cyclone passes over your insured address, Redicova triggers a pay-out to you for your insured amount with no waiting and no assessors.
Use funds as you choose
Redicova is not insurance for specific items like tractors, homes or cars, instead it covers you if your insured address is hit by a severe tropical cyclone, category 3 or more, whether you have incurred damage or not.
Designed for Northern Australia
Developed specifically for Northern Australia to help you bridge the financial gap between immediate needs and existing support services, so you can recover quickly and prosper after a severe tropical cyclone.
Get a quote today
Quote Request
Cover is triggered when the BoM records a severe tropical cyclone at your insured location.
If a category 3 or higher cyclone is recorded by the BoM, Redicova will automatically pay you a pre-agreed sum insured within three business days of receiving your claim – no questions asked.
BoM records your insured address has been hit by a category 3+ cyclone.
Redicova notifies you via email, requesting your confirmation to pay your claim.
