Climate change to drive up French home insurance premiums by 2050

Climate change and expanding wildfire risks are projected to significantly increase home insurance costs in France. According to analysis by the broker Réassurez-moi, the average annual premium for a house could rise from €470 in 2024 to €744 by 2050, representing a 58% increase.

This upward trend is driven by two primary factors. First, the Caisse centrale de réassurance (CCR) estimates that natural disaster claims will increase by approximately 40% to 60% by 2050 due to climate change. Second, the expansion of wildfire risks into previously unaffected northern and western territories is expected to add further costs to standard fire coverage.

In the wake of recent devastating summer fires, experts also emphasize the importance of proper insurance management for victims. The insurance comparison site LeLynx.fr notes that while fire coverage typically includes structural damage and personal property, the level of compensation is strictly tied to the declared value of goods. Policyholders are advised to report damages within five working days to ensure timely indemnification.