This paper presents the results of a first-of-a-kind study into insurance premium costs in locations exposed to extreme weather and climate change risks.  The study covers a sample of 250 premium samples across 42 carefully selected locations, based on a standardised house.

The study finds very high insurance premiums in several types of high hazard locations, including the refusal of some insurers to provide online quotes.  The study also finds that there are locations with a marked variation between providers (price shear) that may indicate significant variation in access to information across provides.  The study finds that there is a significant risk of under insurance, as replacement costs for property are being affected by changing building standards in hazards belts.

The paper presents projections for the impact of climate change in insurance premiums over the term of a normal mortgage.  The study finds premiums in some locations could increase by as much as 92% over a 30-year mortgage term.

Finally, the paper will present a set of 5 Insurability Risk Indicators that can be used by homebuyers to assess the possible risks to their purchase from extreme weather and climate change.