Study reveals alarming vulnerability of Australian homes to natural disasters
Study reveals alarming vulnerability of Australian homes to natural disasters | Insurance Business Australia
Catastrophe & Flood
Study reveals alarming vulnerability of Australian homes to natural disasters
Insurer enters partnership to bolster extreme weather resilience
Catastrophe & Flood
By
Roxanne Libatique
Research conducted by Australian property marketplace Domain has brought to light a concerning reality: nearly half of all Australian homes face potential risks, exacerbated by the burden of soaring insurance premiums.
The study delved into the profound impact of climate change-induced extreme weather events, including bushfires, floods, and coastal erosion, which collectively imperil millions of homes across the nation.
In a forum, Domain head of research Nicola Powell emphasised the vulnerability of many Australian homes to natural disasters.
The campaign seeks to address concerns regarding the heightened frequency and severity of extreme weather, as evidenced by findings indicating that over one in three South Australians feel ill-prepared for such eventualities.
Australians feel unprepared for severe weather
Statistics derived from NRMA claims data accentuated the urgency of the campaign, with last winter witnessing the highest incidence of wild weather damage in six years, accounting for 40% of all home claims.
Despite this alarming trend, a considerable proportion of the populace remains uncertain about the requisite preparatory measures, with 31% of South Australians lacking clarity on actionable steps.
Commenting on the partnership, SES chief officer Chris Beattie emphasised the importance of fostering community resilience through proactive engagement and education.
“This will be the largest, targeted public education campaign we have launched, and we’re hopeful that, in combination with our well-prepped volunteers, it will help to minimise the impacts of severe weather across our communities as we come into winter,” he said.
Importance of preparing for extreme weather events
NRMA executive general manager Matthew Bennett underscored the pivotal role of local weather awareness and proactive measures in safeguarding communities.
“Our research shows the number-one barrier to getting prepared is thinking it won’t happen to me and the second is not knowing what to do,” he said. “It’s clear that education is key to helping protect South Australians from the impacts of extreme weather, and that’s why we’re proud to partner with the South Australian SES to raise awareness of risks and provide practical advice.
“We also recognise the tremendous work the SES volunteers do to keep our communities safe. When severe weather strikes, they are often the first to respond, with volunteers putting their lives on the line to help others. They are there to help us, and by getting prepared we can help them too.”
To equip residents for impending weather challenges, the SES advocates for practical measures such as trimming overhead branches, clearing gutters and drains, securing outdoor furniture, and ensuring adequate insurance coverage.
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