Do you currently live in a property located within 1km of the coast? If you are, new research by Belinda Storey for the Deep South National Science Challenge has found that thousands of homes are at risk of coastal inundation and will only be able to get partial insurance cover, before becoming completely uninsurable by 2050.
Storey writes “Once insurance is unavailable, property buyers will find it difficult to borrow money to purchase a property, and existing owners may need to make expensive modifications to their homes to prevent flood waters reaching inside.”
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Article written by Jenée Tibshraeny, Interest.co.nz
Article Posted 2nd December 2020, Interest.co.nz