A new report commissioned by Emergency Leaders for Climate Action says Australia’s fire seasons are 21 per cent longer than in 1979. It puts the cost to the economy at $6 billion a year, with most of that from harm to health and wellbeing, ahead of damaged businesses and lost homes.
The modelling estimates about 5.6 million households, roughly half the country, are exposed to bushfire risk. A single major event like the Black Summer fires cost almost $30 billion, and the group says the bill could approach $180 billion over 30 years.
The Bureau of Meteorology says drier-than-average conditions have persisted along much of the eastern seaboard since El Niño became active, and experts warn of possible flash droughts this summer. Some forecasters expect 2027/28 could be an especially bad fire season.
The report also found better protection of homes and infrastructure could avoid $600 million in losses and protect more than 5,600 jobs each year, and it calls for the Disaster Ready Fund to be aimed more at households.
What it means for your money
Check your home insurance now, before summer: confirm the sum insured covers current rebuilding costs and know what your policy says about bushfire. If you live in a risk area, upgrading gutters, vents and fencing can cut both danger and, in some cases, premiums.
Source: ABC News