The homes have been flagged as at risk of coastal erosion.
As sea levels rise, more than half of all Australian homes have been left uninsurable due to their risk of coastal flooding and erosion, new research by Monash University and AON has found.
"This essentially refers to erosion or flooding experienced on the open coast, resulting from storm tide or wave action," the report wrote.As sea levels rise, more than half of all Australian homes have been left uninsurable. Almost 500,000 properties have a one per cent risk of coastal flooding in any given year.
"These at-risk properties will not have insurance coverage for actions of the sea, and the risk will lie with the property owner," the report said.Australia's sea levels are rising largely on par with the global average of about 0.2 metres since the start of the 20th century.
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