The potential effects of climate change and global warming have been widely discussed and debated over the last few months. With a United Nations summit on climate change looming in December, many are trying to pinpoint the possible effects of climate change and some of the ways in which we can prevent them. Reports of rising sea, levels, cyclones, floods, and droughts have brought apocalyptic visions to many around the world, and even spawned a few thrillers on the silver screen. However, some people may be overlooking some of the ways in which climate change could change our lives, starting with the home in which we live.
A recent report claims that households will face steep rises in the cost of their home owner insurance as global warming increases the chances of flooding and storms. In fact, some homeowners may face such a high risk of flooding that insurance companies will simply turn them away. The report, which was carried out by the Association of British Insurers, claims that temperature rises of only four degrees Celsius could cause insurance premiums to skyrocket. This small rise in temperature could lead to a fourteen percent rise in losses from river flooding and flash floods. This would translate to over six hundred million pounds in additional claims.
Currently one in six homes in the United Kingdom is in an area considered to be at risk for floods. In the future it will be much more expensive for people living in these areas to get insurance for their homes. The most at risk areas are Wales and the South West.
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