Weathering the Storm: Insurance in a changing climate, a research project commissioned by CHOICE, the Climate Council, Financial Counselling Australia, the Financial Rights Legal Centre, and the Tenants’ Union of NSW has found that many Australian homes are being left unprotected due to insurance becoming unaffordable or unavailable for many.
According to CHOICE CEO Alan Kirkland, “Two in five respondents to our national survey of home and contents insurance policyholders reported that they had been impacted by extreme weather events in the past five years, but our research found that the insurance market is failing to cover these events fairly and affordably. Many people are being forced to pay higher premiums, reduce their cover, or abandon insurance entirely”
Download the report: Weathering the Storm: Insurance in a changing climate