About 150 residents gathered at Goodna State School in Goodna, one of the worst hit areas of the state's southeast.
Many were feeling let down after being denied payouts because of what they said were obscure definitions of the type of flooding that has affected their homes.
"They want to know whether the water is clean or dirty," one resident said. "I said: 'It's just wet'."
Others are fed up about being left in limbo, waiting weeks for their insurers to make that crucial decision.
"Everybody here is dissatisfied with them and the crap that is coming out of them," Goodna resident Tony Lord said.
He has been waiting for three weeks for a decision from his insurer Commonwealth Bank after the water came just two feet from the roof of his home.
"We still haven't got any bloody word," he said.
Goodna resident Andrew Devine has also been forced into a state of limbo, unable to start rebuilding a month after floods destroyed his home.
"We are stuck in the middle - we can't do anything on our house until the insurers say yes or no.
"The whole situation is unacceptable."
Insurance Council of Australia special risks manager Laurie Ratz said it was taking insurance companies time to get hydrologists and assessors on the ground, an issue he would be raising with them.
"It is unacceptable to sit in limbo for four weeks," he said.