Weather Insurance – The Untapped Resource
Considering that the past year has been the warmest year on record in many portions of the world as a result of climate change, property investors and insurance brokers alike should be using this key indicator to promote what may be an overlooked area of consideration – weather and natural disaster insurance.
Homeowners in the UK are already receiving forewarning regarding these types of insurance due to homeowners making weather and storm-related claims that are being rejected as a result of their lacking maintenance of their properties, as opposed to suffering extensive storm damage.
Climate change wears a cape of natural disaster – in other words, things are only going to get worse from here until climate stability is established worldwide. Examples of speculated natural disasters caused by climate change are the “two tropical storms, Alberto and Beryl, formed before the start of the 2012 Atlantic hurricane season, the first such occurrence since 1908.” Another indicator of this phenomenon is the “12 natural disasters in the United States that each caused more than 1 billion in damage, ranging from wildfires in the Southwest to a blizzard in the Northeast.” Yes, that is correct, 12 natural disasters in only one year.
So now that all the key indicators are in place, we’re gonna go out on a limb and say that over the next few yours as our climate situation gets progressively worse, do yourselves a favour and look into weather and natural disaster insurance. At this point these events are unpredictable and unpreventable, and nobody likes being unprepared, so this is our fair warning that these insurance policies, though they may not seem to be of immediate importance, they very well could be.
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image courtesy of http://www.arteyfotografia.com.ar/18613/fotos/419503/
