Andrea lives in a simple home in central Sydney. She was quoted $19,000 to insure it

AI Summary

A homeowner in central Sydney faces a daunting insurance quote of $19,000, highlighting the growing challenges posed by climate change. Insurers are becoming increasingly cautious, leading to higher premiums even for properties previously deemed safe from flooding.

In a sign of how insurance companies are slashing their appetite for climate risk, even homes that have never flooded are becoming hard to insure.