Every individual should receive an insurance proposal for natural hazard protection.
Natural disasters like floods can be devastating for property owners. shockingly, only about half of them have insurance coverage. Some states are pushing for mandatory insurance, but it might take some time to become a reality.
The Federal Government has rejected the states' demands for a nationwide mandatory insurance against flood and other natural disasters. The top-ranking justice minister, Marco Buschmann, explained the government's refusal by asserting that the proposed mandatory insurance would increase living costs in Germany, create unnecessary bureaucracy, and not relieve the government from financial responsibility.
During a meeting between Chancellor Olaf Scholz and the Minister-Presidents, it was decided to keep on discussing this matter. An FDP politician said, "We all share the same objective of enhancing protection against natural disasters and their aftermath, but we don't necessarily agree on the method." He advocated for a rule requiring insurers to offer insurance against natural disasters to every property owner.
Approximately half of the private homes in Germany lack insurance coverage for natural disasters
After the meeting with the Minister-Presidents, Chancellor Scholz stated, "Everyone should have the option to buy insurance." For a long time, the states have been urging the Federal Government to draft legislation for a nationwide mandatory insurance for natural disasters, which should also cover flood damages. According to the states' proposals, insurance companies should extend a contract to every property owner wanting to insure against natural disasters.
Some homeowners in high-risk flood areas find it difficult to secure insurance for their buildings, as many insurers are hesitant to accept the high risks involved.
Green politician Lukas Benner also supported the idea of a nationwide mandatory insurance against natural disasters. He stated, "With the right approach, it promotes prevention and ensures planning security for affected parties, as well as equitable cost distribution." The Bundestag deputy continued, "The premium should not completely burden the tenants." In areas where extremely high premiums are demanded due to high risk, it's crucial to differentiate between existing buildings and new construction in order to find fair solutions.
