Expert alert: Natural hazard insurance is essential for flood damage!

Expert alert: Natural hazard insurance is essential for flood damage!

According to a report by www.br.de,

The repeated occurrence of floods in Lower Bavaria and other parts of Bavaria has led to increased efforts to make residents aware of the need for natural hazard insurance. This insurance is particularly important for homeowners in vulnerable areas because it provides protection against floods, storms and other natural hazards.

According to insurance experts, the insurance rate for natural hazard insurance in Bavaria is only 41 percent. Such insurance can cost on average around 150 euros per year, but depends on the value of the building and other factors. In addition, insurance in vulnerable areas is often more expensive and involves a high deductible. Some insurance companies even refuse to insure buildings in such locations if the risk is considered too high.

The discussion about possible compulsory insurance against flood damage is gaining momentum. Consumer advocates and the Federal Council are in favor of compulsory natural hazard insurance for homeowners. The insurance industry, on the other hand, has so far rejected this approach and emphasizes that property owners should retain their own responsibility for precautionary measures.

In view of climate change and increasing extreme weather conditions, insuring against natural disasters is becoming increasingly relevant for homeowners. Therefore, it is advisable to take preventative measures to ensure the insurability of your home, especially in vulnerable areas. In view of the increasing frequency of flood events, it is crucial to take precautions and, if necessary, consider natural hazard insurance.