We could have a big long discussion over climate change, how it is caused, what it is doing, what we can do to stop or reduce it. The bottom line is, it is happening and we will be looking at changes in our climate in future years.

What we are here to discuss is how this could affect insurance premiums. The hardest hit are going to be property insurances, in particular home insurance. Changes in climate will lead to more severe storms and higher sea levels meaning an increase in storm and flood damage claims.

It is said that more and more places will be deemed as being in flood area making it difficult if not impossible to obtain insurance full stop. The main thing we will see is steady increases in such insurance costs as claim levels begin to rise.

There is little we can do to stop this happening. It is not just home and other property insurance that will be effected but motor insurance as well. Poor weather will unfortunately result in more accidents and floods obviously affect whatever is in their path which includes your house and the car parked outside.