Tag #Home Insurance Premiums

What are the primary factors driving the dramatic increase in home insurance premiums across Sydney, and what are the immediate consequences for homeowners?

Home insurance costs in Sydney, Australia, are surging due to escalating climate risks, with some areas experiencing premiums over three times the average. In Hawkesbury, average annual premiums reach \$7033, while some face costs as high as \$30,000, compared to a Greater Sydney average of \$3200 (66% higher than in 2020). This increase is driven by rising natural disaster frequency and rebuilding costs.