Extreme weather events are worsening across Australia. Since the Black Summer bushfires in 2019-20, there have been 11 declared insurance catastrophes. Since January 2020 insurers have received almost 788,000 claims related to floods and storms that have been declared catastrophes or significant events. As the climate warms, the risk of extreme weather events will continue to increase, likely bringing disasters at a scale and severity for which we are not currently prepared. 

Home and contents insurance is essential in helping people and communities recover and rebuild after these types of events. Insurance ideally provides temporary accommodation for people whose homes have been damaged or destroyed, allows them to replace valued possessions and helps them to rebuild their homes and lives.

The impacts of being uninsured or underinsured aren’t just financial — they also have human impacts. This research finds that many people who have been through extreme weather events are experiencing significant and ongoing emotional harm, with many reporting ongoing trauma and anxiety, relationship breakdowns and exhaustion.