New compulsory insurance: protection for homeowners from climate damage!

New compulsory insurance: protection for homeowners from climate damage!

at a time when the threats from natural disasters increase, the Federal Government presents its plans for mandatory insurance against climate damage for all homeowners. This initiative, which is anchored in the coalition agreement, aims to introduce the necessary elementary insurance for residential buildings in Germany. This reports fr.de .

Federal Minister of Justice Stefanie Hubig (SPD) emphasizes the urgent need for this insurance, especially against the background of the damage caused by flood events in Bavaria and Baden-Württemberg in 2024. These catastrophic floods caused damage of 4.1 billion euros, of which almost half was uninsured, says ZDF today .

The way to compulsory insurance

The planned compulsory insurance is expected to be introduced in this legislative period. In the future, new contracts will have to include protection against elementary damage, while existing insurance companies have to be expanded to expand this option up to a set key date. However, experts warn that the cost issue for these measures will be of crucial importance.

The current insurance situation is worrying: over 50 percent of private houses in Germany are not insured against elementary damage. Many homeowners are holding back because the premiums are often perceived as too high, or insurers do not offer policies for high -risk zones. The debate about compulsory insurance gains trip, especially after the devastating flood events and the political pressure of citizenship and state governments.

climate change and flood events

heavy rain and floods are increasingly present dangers in Germany. Historically, extreme flood events in Central Europe have been documented for centuries. The magdalenous flood of 1342 is one of the largest floods in the region, and the latest floods in 2021 also demanded numerous lives and caused damage in billions. This information provides, among other things, BildungsServer .

climate research shows that the frequency of such extreme weather events is influenced by climate change. The increase in heavy rain and flood events in recent decades has regional authorities and experts conclude that mandatory elementary damage insurance is necessary in order to be able to better counter financial burdens.

Chancellor Olaf Scholz and Bavaria are currently committed Prime Minister Markus Söder for national compulsory insurance. The financial burdens for taxpayers are to be reduced by more private security, so that the debate about the optimal design of this insurance is becoming increasingly urgent. The next advice of the countries with the Chancellor will take place on June 20th.

While the SPD advocates solidarity insurance, the FDP warns of the increasing costs and influencing of the premiums. The overall association of the German Insurance Industry (GDV) sees no alarming situation in the current insurance rate of around 54%, but also refers to the increasing risks that the population faces. It is clear that the thought of compulsory insurance will not only employ private households, but also the insurance industry and politics in the coming months.