Hailstorms, heat, drought and heavy rainfall cause the insurance premiums of home insurance in the Netherlands to rise. Combined building and home insurance policies have cost consumers 25 percent more in the last four years, according to research by comparison site Independer.
Independer examined at the request of the radio program Argos the premiums for home insurance and package insurance, a home insurance in combination with a home insurance.
There has been a clear rise in both premiums since 2015, and especially in the last two years, insurance expert Suzan Samson told Argos.
The home insurance premiums have risen by 13 percent since 2015 and the package insurance premiums by 25 percent, according to Samson. "If you look at what insurers give as reasons, you can see very clearly that the increasing claims burden due to changing weather conditions is the main cause of those premium increases."
According to the Dutch Association of Insurers, insurers pay out an average of around € 360 million in damages per year as a result of "bad weather", considerably more than the € 250 million mentioned in a 2017 trade association report.
600 million euros for one hail shower
Spokesman Oscar van Elferen: "That is an average. But if you take the hailstorms of 2016, for example, insurance companies will lose 600 million euros in one day."
According to Van Elferen, non-life insurers are forced to increase the premiums for home insurance, building and household effects, because otherwise they will no longer be able to bear the claims burden. He makes no statements about the exact percentages: that information is sensitive to competition.