Climate change, insurance and me
Climate change is constantly in the news. But how many of us really know what’s going on? There was talk at the recent COP21 summit of limiting the rise in global temperature to about two degrees Celsius, which seems like a pretty small number to be causing such a stir! What follows is a short explanation of the implications of climate change for insurance. Read on and pitch in to save polar bears – and your roof!
A few facts about climate change
Since the end of the Industrial Revolution around 1850, the average global temperature on Earth has increased by 0.85 degrees Celsius, which is already resulting in extreme temperatures, more frequent and heavier precipitation and more severe droughts, the melting of the polar ice caps and increasing ocean acidification.
If industrialization, deforestation and intensive farming proceed apace, the earth will heat up by four degrees by 2100 and sea levels will rise by a metre! Those coastal cities we love, the beaches we vacation at – they could all wind up under water.
That’s why the final COP21 agreement is aimed at keeping global temperature rise lower than two degrees Celsius above pre-industrial levels and, if possible, below 1.5 degrees. So it’s essential for the world’s nations to produce fewer greenhouse gas emissions in this century than they did in the last.
What can we do?
The list of adverse effects keeps expanding and the impact of climate change is being felt ever closer to home. Climate change could ultimately have dramatic repercussions for our way of life.
We shouldn’t panic, but it’s important to be aware of small changes we can realistically make in our day-to-day lives to contribute to slowing climate change. You could consider putting a green roof on your home, for example, or start with simpler things you can do in your daily life that can have a more direct impact on climate change.
The times are changing – and so is the insurance business!
Of course, changes in the climate are responsible for various types of damage, such as water damage, and insurers have to adapt their products and services to the new circumstances.
Now is a good time to speak with your insurer to see if your home insurance policy protects you from the risks associated with extreme weather events related to climate change.
Prevention is key to protecting yourself from the more violent weather conditions produced by climate change. Take special care of your home during the change of seasons and learn more about your coverage for damage due to natural causes.
When it comes to keeping your home in good shape, every little effort counts. The same is true for the planet, especially if we act together!
