Natural hazards: billions in losses in Germany – what comes next?

Natural hazards: billions in losses in Germany – what comes next?

Current images from the buried village of Blatten in Switzerland are once again bringing the topic of natural hazards into public consciousness. In Germany, insured losses from heavy rain, floods, storms and hail increased to 5.7 billion euros in 2024, according to the German Insurance Association (GDV). This amount remains constant compared to the previous year. Southern Germany was particularly affected by this damage, where damage amounting to 2.6 billion euros was recorded in 2024 alone caused by heavy rain and floods. For the previous year, the damage caused by heavy rain and floods amounted to around one billion euros.

The GDV points out that the actual damage is higher than the published figures because not all damage is covered by insurance. In property insurance, insured losses totaling 4.4 billion euros were identified in 2024, of which 1.8 billion euros were attributable to storms and hail. On average, motor vehicle insurers reported a natural hazard balance of 1.3 billion euros.

Regionally distributed damage

In 2024, the highest insured losses were recorded in the federal states of Baden-Württemberg and Bavaria, at around 1.6 billion euros each. North Rhine-Westphalia followed with 613 million euros, while Bremen had the lowest damage at 17 million euros. Overall, it can be seen that there are large regional differences in the frequency and amount of damage.

The frequency of claims per 100,000 contracts increased in several federal states. Saarland recorded the highest density with 22.4 claims, followed by Lower Saxony with 21.2 and Schleswig-Holstein with 20.3. In contrast, Hamburg with 8.8 and Berlin with 6.4 are at the bottom of the table. The national average for claims frequency fell from 18.5 to 17.1, which reflects the overall situation.

Political discussion and outlook

In view of the increasing risks and the high amounts of damage, the GDV is against compulsory insurance against natural hazards. Instead, the association calls for a comprehensive natural hazard concept. However, Justice Minister Stefanie Hubig (SPD) announced that compulsory insurance for residential buildings should be implemented in this legislative period. The coalition agreement leaves it open whether this is a genuine compulsory insurance or an obligation to offer an opt-out.

Additional information about damage caused by natural hazards is available in GDV data service to find. These are additionally supported by graphics, tables and maps for various areas of damage such as buildings, household goods and motor vehicles. The comprehensive evaluation provides insights into the development of damage in recent years and shows that every region in Germany is affected by natural hazards. This information is crucial to plan and implement effective prevention measures.

For a more in-depth analysis, please contact those interested THE INVESTMENT detailed reports and statistics available.