Severe weather could lead to higher home insurance

In Denmark, home insurance prices of the three largest insurance companies have risen by over 20% in recent years, a survey by consumer council Forbrugerrådet Tænk for TV 2 reveals. The industry organization Forsikring & Pension suggests this could be due to increased precipitation in 2023 and 2024. Home insurance coverages vary but typically include damage from storms and extreme weather events such as cloudbursts, floods, frost damage, and snow pressure. Recently, a heavy rainstorm particularly affected Southwestern Jylland, causing over 400 damage reports, mainly in Jylland. This is not an isolated incident in Denmark; for instance, the country faced its worst storm surge in 119 years in October 2023, leading to numerous houses and cellars being flooded.