Flood disasters in particular result in billions of euros in damage to private houses. This puts the owners in existential distress. According to NRW Prime Minister Wüst, the federal government is now examining the introduction of compulsory policies.
Consumer advocates have welcomed compulsory insurance against natural hazards for homeowners. Without sufficient individual insurance protection, natural events would have negative economic and social effects, said the consumer advice center in Saxony. Affected people need financial security for the reconstruction of the buildings and must not be dependent on government grants and donations.
According to the Prime Minister of North Rhine-Westphalia, Hendrik Wüst, Chancellor Olaf Scholz promised to examine the introduction of such compulsory insurance at the federal-state consultations on Thursday. The country heads had unanimously voted in favor of it. “We have to make sure that no one faces financial ruin after a storm. Climate change means that protection against extreme weather is also part of our country’s ability to withstand crises,” said CDU politician Wüst on Thursday evening.
The homeowners association
Instead, the association advocated personal responsibility on the part of property owners and a decision based on an individual risk analysis as to whether their own house is exposed to these dangers. Because the risk is not the same for all houses.
