Steadfast Group is arming Australians with a new flood risk tracker which identifies the likelihood of flooding at a specific address.

The easy-to-use Steadfast Coastal and River Flood Risk Tracker is available free of charge and enables an address to be entered to reveal the premises’ exposure to the hazard.

Steadfast MD and CEO Robert Kelly says the online service will help businesses and consumers across Australia better understand their insurance needs.

“The devastating impact of the March floods that hit the eastern seaboard brings home the importance of the average Australian having access to the tools to help them to assess if they are in a flood risk zone,” Mr Kelly said.

“Floods can be extremely unpredictable and destructive. They can happen anywhere in Australia from flash flooding to overflowing rivers, creeks or the ocean and things can change very quickly.”

Severe flooding across NSW, southeast Queensland and Victoria last month is expected to result in more than $1 billion in insured losses and the Bureau of Meteorology is forecasting above average rainfall to continue from now until June for northern parts of Australia.

Australians need to remain vigilant when severe weather is forecast and understand the simple steps they can take to help prepare for flooding, Mr Kelly says.

“It’s also important to understand how their insurance cover could respond in the event of weather events … such as fire, flood and cyclones,” he said. “If you find your home or business premises is in a potential flood risk zone, it’s important to talk to your insurance adviser to ensure you are adequately covered.”

The tracker’s data is collected from satellite imagery, flood mapping, climate change data, catastrophic event impacts and population density.

Properties are assessed for the likelihood of being affected by storm surges or tsunami, and given a rating of low, moderate, high or very high risk.

The likelihood of being affected by river flood zones is also assessed and given a “risk grade” indicating how often an address is likely to experience a river flood event, ranging from once in every 20 years to less than once every 500 years.

“We provide you with this information so you can discuss it with your insurance adviser,” the online service, which does not assess flooding from dams or flash floods, says.

The underlying data is updated regularly, feeding though to current results. No location details will be kept by Steadfast.

The tool can be accessed here.