This is how those affected protect themselves from financial damage in the event of natural disasters

This is how those affected protect themselves from financial damage in the event of natural disasters

According to a report by amp.focus.de, the floods and severe thunderstorms in Germany in July 2021 led to the worst natural disasters in history, killing more than 160 people. The current storms have now reached many districts again. Many people lost their livelihoods due to the floods, including their cars, houses and belongings. The question of how to protect yourself from financial damage is the focus of many of those affected.

It is clear that natural disasters have a dramatic impact on the market, the consumer and the insurance industry. According to Edzard Bennmann from Signal Iduna, only around 50 percent of people have extended natural hazard insurance, which offers benefits for hotel accommodation and immediate aid for reconstruction. In an emergency, many of those affected are dependent on uncertain support or donations. This can lead to a significant financial burden and raises the question of whether compulsory insurance is necessary for everyone.

Meteorologist Jan Schenk warns of more frequent extreme weather conditions in Germany due to climate change. Floods, storms and heavy rain are expected to become more frequent in the future. This could result in people in regions without adequate policies being affected by natural disasters. It becomes clear that everyone should fully protect themselves against such risks.

The costs for extended natural hazard insurance are comparatively low. Edzard Bennmann mentions that a corresponding policy for a rented mid-terrace house with 136 square meters only costs 20 euros a year. Investing in comprehensive insurance therefore makes sense in order to be financially protected in the event of a natural disaster.

Overall, it shows that initial basic insurance is the first important step in the event of natural disasters. It is urgent to become aware of the current risks and take appropriate measures to protect existence from the negative effects of natural disasters.