Heat stroke to be expected on the price of home insurance, News / Daily News

The repetition of drought episodes will have the effect of causing the price of home insurance to explode in the years to come, warns France Assureurs, which anticipates a tripling of the costs of claims linked to climate change by 2050.

While these claims have increased from 1 billion euros per year in the 80s to 3 billion euros in the 2000s, and to almost 4 billion euros in the last five years, the repetition of episodes of drought, which entail very costly renovation work for the dwellings, promises to continue to inflate the premiums.

According to the Prudential Control and Resolution Authority, the increase should reach between 113 and 200% in the next twenty years. Not to mention that if these claims become too frequent, the insurance companies could even refuse to insure these risks, insofar as they will no longer be “random”.

Leave a Comment