grass on fire

It is estimated around half of Australians don't have an insurance policy that fully covers their assets. Without insurance, households are unable to "bounce back" after a disaster or emergency event.

 Minimal insurance options have been associated with housing affordability. Underinsured homes lead to financial hardship & disadvantaged.

Renters & Risk

Renters appear low risk. For these people, a disaster or emergency event might involve a loss of personal possessions but not of a housing asset. But, following a disaster, renters can face eviction, homelessness or be forced to live in a damaged property.

Climate Change & Housing Insurance Affordability

Households aren't making the connection between insurance and climate change. Despite a predicted increase in impacts, Australians generally assume that disasters will not affect the price of insurance.

In response to new risk modelling, parts of cyclone-prone northern Australia have experienced rising premiums — 350 per cent increases for strata properties in the case of Port Hedland.

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