Climate change in everyday life: How to protect your home from extreme weather!

Climate change in everyday life: How to protect your home from extreme weather!

The climate crisis has long since become a reality and represents a major challenge for society. How econews reported, awareness of the consequences of this crisis has often proven vague. The safety of one's own home in particular is often neglected in times of increasing extreme weather events. However, protection through household insurance is essential to protect your own home against growing risks.

In recent years, the number of claims caused by climate-related events has almost doubled. This damage amounts to billions of dollars and is increasingly affecting regions that were previously considered safe. The climate zone in Central Europe is changing, which has a direct impact on private living spaces. Structural prevention is therefore playing an increasingly important role. Experts recommend measures such as backflow flaps, waterproof basement windows and drainage systems as well as lightning protection systems.

Growing awareness of insurance and prevention

Regular maintenance and review of these preventative measures is critical to ensure effectiveness. Modern household insurance policies should therefore also offer protection against natural hazards and be adapted to the changed conditions. Flexible insurance products are becoming increasingly important for homeowners who want to protect themselves against new risks.

The GDV (Association of the German Insurance Industry) emphasizes that comprehensive information on natural hazards is necessary in order to enable adaptation to the consequences of climate change. In an analysis, the GDV found that weather-related damage has increased in recent decades and that this trend will continue in the future. Heavy rain in particular poses a significant threat as it causes the most damage and can occur anywhere in Germany.

Changes in insurance densities

The occurrence of floods and other extreme weather events means that the insurance density varies greatly in different federal states. The insurance density in Baden-Württemberg is 94 percent, while in 2023 several federal states, including North Rhine-Westphalia and Thuringia, will have exceeded the 50 percent mark. In addition, the ZÜRS geo system supports insurers in effectively assessing the flood risk of buildings by dividing over 22 million addresses into four risk classes.

The financial consequences of natural hazards are enormous. In 2023, the damage caused by such events in property and motor vehicle insurance will amount to around 5.6 billion euros. Jörg Asmussen, General Manager of the GDV, strongly emphasizes the need for bold measures to protect against new climate conditions. Society is currently inadequately prepared for the accumulation of these natural phenomena.

Forecasts for the future

The forecasts suggest that damage from climate change impacts could at least double by 2050. The consideration of the water sensitivity of infrastructure, buildings and cities will therefore be the focus of the 2023 Natural Hazards Report. Numerous findings on the damage caused by natural hazards are recorded in comprehensive data collections. This information is not only important for insurers, but also serves research on adaptation strategies to climate change, such as gdv.de summarizes.

The goal remains clear: Germany must intensify its efforts to achieve the Paris climate goals and at the same time ensure solid protection against the consequences of climate change.