Insurers have increased their severe weather insurance premiums by up to 35% from last year. This was reported by the comparison site Independer. “Insurance premiums have shot up as much as 35% here and there,” says Michel Ypma, home insurance expert at Independer.
In recent years, bad weather has regularly taken its toll on the Netherlands. This also increases the costs for the insurers, who compensate the insured persons for damages.
Partly because of this, Independer expects insurance premiums to rise sharply. ‘Last year we also had the big storms in February. This caused about half a billion in damage. We think there is a relationship to what we are seeing in the market now,” says Ypma.
Summer Storm Poly can also have an impact. Though Ypma notes that winter storms have a greater impact. ‘They’re often larger in nature, summer storms cover a little bit smaller area. But even now the damage will be significant.”
Source: BNR
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