Another example, an owner of a 100m2 house in Loiret, 55 years old and married, must pay 198.39 euros on average for his insurance, compared to 103.39 euros in Hautes-Alpes.
The reason for such a disparity? Floods, landslides, fires… Certain territories are not spared from climate change, which directly impacts insurers’ accounts.
« Certain departments are already identified as at climatic risk, such as the Rhône for its flood phenomena for example, or the departments adjoining the Atlantic coast for the risks of waves-submersion and storms. And the increase in climate losses could accentuate price differences in certain departments”explains Samuel Bansard, director of Meilleurtaux insurance comparison activities.
At the same time, the number of climate disasters is increasing. In 2022, the number of claims managed in the home market increased by 5.9%, reaching 3.8 million new claims over the year, according to the latest report from France Assureurs. Enough to increase the expenses of insurance companies.
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The Central Reinsurance Fund (CCR), for example, estimated the cost of floods covered under the natural disaster regime at 550 million euros after the floods which affected Hauts-de-France in November. For its part, the cost of summer droughts has been estimated at 900 million euros for 2023.
“Other factors, such as the prices of construction materials and the number of burglaries and thefts, also contribute to the evolution of the rates applied by insurers”, adds Samuel Bansard. The cost of construction materials has indeed soared in recent years: + 41.1% for metal frames and frames, + 31% for aluminum window closures, + 25.6% for glazing and mirrorwork between December 2020 and January 2023, according to the French Building Federation (FFB).
This situation de facto jeopardizes the financial balance of insurers. To protect their margins, the latter then increased their prices by 5% on average in 2024. And we should expect a further increase in 2025… Of the order of « 10 % » on average, according to Cyrille Chartier-Kastler, insurance specialist (Facts & Figures firm).
To deal with this increase in prices, Samuel Bansard advises looking at insurers’ offers. ” every two years “ to find the best price. “Check that the proposed offer meets your needs. Certain guarantees can be excluded from the contract according to your request, which will allow you to negotiate the price”he explains.
Advice that will be even more valuable for years to come. Because the Prudential Control and Resolution Authority (ACPR) predicts an average increase in home insurance prices of 158% by 2050 due to climate change.
