17 Aug 2022

Insurance could cost $100k per year for some properties in future

From Morning Report, 8:25 am on 17 August 2022

Imagine paying $100,000 a year just to insure your house.

That's the reality facing some homeowners in the near future, according to a climate economist and modeller.

Climate Sigma managing director Belinda Storey says those are the sorts of costs an owner of a million dollar home on the Petone foreshore in Lower Hutt could be facing in just 20 years' time.

Storey spoke to Corin Dann.