Most Aussies impacted by costly natural disasters, so how can we better protect our communities?

Two-thirds of Aussies are impacted by natural disasters, according to recent analysis from professional services firm, KPMG. 

As an example, the report shows that around 18 million Aussies were impacted by at least one natural disaster in 2022. 

KPMG also points out an urgent need for greater infrastructure investment to help these areas better withstand such disasters. 

“A significant portion of our current infrastructure was originally constructed to withstand weather conditions based on historical patterns,” said KPMG’s urban economist, Terry Rawnsley. “Governments and infrastructure players must factor long-term sustainability into decision making from the outset.”

The cost of natural disasters and better preparation

Natural disasters cost Australia a lot of money, at both the governmental level and individual level. 

For example, a report by the Australian National Audit Office expects that natural disaster response costs will cost the country billions of dollars over the next few years. 

Such weather-related disasters typically damage roads, bridges, waste collection centres and other facilities used to provide essential services, largely impacting local councils. Of course, disasters can’t be predicted and so it’s important to plan and upgrade vulnerable infrastructure as a priority - which will also help limit costs. 

But houses can be equally vulnerable as we know, so what can individuals do to better prepare?

Choosing the right type of home insurance is a crucial first step. Aussies have a wide range of insurance options that can protect their homes with varied cover and costs. For example, most home and contents insurance products cover for damage caused by fire, including bushfires, which is important during these hotter months.

If you’re unsure where to start, Mozo has curated a list of Australia’s Best Home Insurance for you. You can even compare and select from a range of options curated by Mozo experts. 

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  • Home Cover - Buildings & Contents

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
    Monthly payments
    cost extra
    Calendar icon
    Yes
    Underinsurance protection
    Underinsurance protection icon
    Optional ExtraUp To 30% Of Buildings Sum Insured, Applied Automatically For Eligible Policies
    New for old
    replacement
    Replacement icon
    Yes
    Details
  • Home & Contents Insurance

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
    Monthly payments
    cost extra
    Calendar icon
    No
    Underinsurance protection
    Underinsurance protection icon
    No
    New for old
    replacement
    Replacement icon
    Yes
    Details
  • Home & Contents Insurance

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
      Optional Extra
    Monthly payments
    cost extra
    Calendar icon
    Yes
    Underinsurance protection
    Underinsurance protection icon
    Optional ExtraUp To 25% Of Building Sum Insured
    New for old
    replacement
    Replacement icon
    Yes
    Details
  • Home & Contents Insurance

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
    Monthly payments
    cost extra
    Calendar icon
    Yes
    Underinsurance protection
    Underinsurance protection icon
    No
    New for old
    replacement
    Replacement icon
    Yes
  • Home & Contents Insurance

    Main events covered
    • fire
      Fire
    • theft
      Theft
    • storm
      Storm
    • flood
      Flood
    Monthly payments
    cost extra
    Calendar icon
    Yes
    Underinsurance protection
    Underinsurance protection icon
    Optional ExtraUp To 30% Of Building Sum Insured
    New for old
    replacement
    Replacement icon
    Yes
    Details