The world in which we grew up is changing, and the weather is no longer as predictable as we remember.  We can no longer set our clocks by an afternoon highveld storm, or reliably mark the transition of the seasons. Climate change is real, bringing unpredictable weather patterns and uncertainties that go beyond the environment and into our financial security.

But while we cannot control the weather, we can control how well we prepare for it. Insurance is evolving with the times and is no longer a safety net for traditional risks. It is now an essential part of our financial planning and security in a world in which climate instability threatens homes, vehicles, businesses, and personal finances.  The weather not only puts your assets at risk, but also your wallet.

Risky weather, reliable insurance

South Africans are remarkably optimistic, resilient and even curious, but dismissing severe weather warnings with a belief that “it won’t happen to me” can be costly. Ignoring the risks posed by heavy rain that results in floods, high winds that can lift roofs, hailstorms that damage cars, lightening that can strike anywhere, or even snowfall that can trap us on the highway, is irresponsible and can be costly if it results in insurance claims that could have been prevented. Weather warnings don’t necessarily affect claim payouts, however, consumers are encouraged to heed the call as this will keep you, your loved ones and valuable assets safe.

What granny got right!

While technology has given us real-time weather information with weather apps, traditional knowledge should not be ignored. Our elders knew how to read the signs – ‘When ants build high mounds, rain is coming’, or ‘Red sky in the morning, shepherds’ warning.’  Combining this age-old wisdom with modern forecasting tools helps us make informed decisions about travel, and taking steps to protect our assets.

While it’s not necessary to be conversant with levels on the Richter scale or to be familiar with the Beaufort scale, it is definitely advisable to know how to read your weather app – amber and red warnings are always high-risk situations – and how to look a few days ahead if you are planning a trip or event.

The cost of ignoring the weather

Severe weather isn’t just an inconvenience; it’s also potentially expensive. Given the droughts, floods and mudslides, snow and even hurricanes which South Africa has experienced over the last few years, taking precautions with weatherproof measures is a smart way to protect your home or business premises. Solar power can mitigate outages caused by weather, backup water systems counter periods of drought, reducing the impact of weather on your asset. However, it is crucial to update insurance policies to reflect new investments and ensure full coverage of upgrades.

We are ultimately at the mercy of the weather. We cannot change it, but we can change our behaviour. We need to ensure that we keep our property and loved ones safe, and as climate change impacts weather patterns, insurance must evolve. Now is the time we should be reviewing policies to account for shifting environmental risks, ensuring coverage for extreme weather conditions which affect homes, vehicles, and businesses, while also introducing indirect consequences, such as potholes disguised as rain puddles that lead to costly repairs, or lost productivity due to unexpected weather disruptions.

Having the right insurance policy and the right amount of coverage, is critical in ensuring that your assets remain protected when nature strikes unexpectedly. As the climate continues to shift, reviewing and adjusting your insurance policies regularly ensures that your protection keeps pace with new risks.

Be weather smart, wallet safe.