Home insurance drought

Sunday, 04 September 2011

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Homeowners are being urged to have adequate home insurance in place amid warnings that climate change could present one of the biggest future threats to their properties.

It follows a new report from Swiss Re, which claims that subsidence caused by drought is likely to take over from flooding as the costliest natural hazard in some parts of Europe.

Large parts of the UK could see subsidence-related claims rise by more than 50 per cent over the coming decades as a result of climate change, according to modelling carried out by researchers.

Matt Weber, head of property and specialty underwriting at Swiss Re, said: "As our climate continues to change, the risk of property damage from soil subsidence is not only increasing but also spreading to new regions in Europe."

However, making sure that you have the right home insurance in place is quick and easy with Swiftcover's fast online quotes.

Copyright Baubridge Ltd

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