Climate risk guarantees home insurance policies will keep getting more expensive

by anastasiakaufman-chime-me

PUBLISHED WED, AUG 30 202310:10 AM EDTUPDATED WED, AUG 30 20231:38 PM EDT

TOPSHOT - An aerial picture taken on October 1, 2022 shows a broken section of the Pine Island Road and destroyed houses in the aftermath of Hurricane Ian in Matlacha, Florida. - Shocked Florida communities counted their dead October 1, 2022, as the full scale of the devastation came into focus, two days after Hurricane Ian tore into the coastline as one of the most powerful storms ever to hit the United States. (Photo by Ricardo ARDUENGO / AFP) (Photo by RICARDO ARDUENGO/AFP via Getty Images) — An aerial picture taken on October 1, 2022 shows a broken section of the Pine Island Road and destroyed houses in the aftermath of Hurricane Ian in Matlacha, Florida. Ricardo Arduengo | AFP | Getty Images

Frequent weather catastrophes, induced in part by climate change, are bearing down on homeowners and would-be buyers.

Some home insurers have opted to stop writing new business in heavily impacted states like Florida — currently under threat from Hurricane Idalia — and California, or in other pockets of the country. In other cases, insurers are raising prices, or reducing coverage, and there’s likely to be a continued ripple effect across the country, as weather events tied to climate change proliferate, insurers tighten the reins on risk and reinsurance becomes harder to come by, according to industry experts.

Visit my website at: https://www.anastasiakaufman.com/

Here’s my Facebook Account: https://www.facebook.com/AnastasiaRealtor/

Anastasia Kaufman, GRI,ABR,SFR,CDPE,SRS

Cell: 401-338-2749

Email: Anastasia@anastasiakaufman.com

Recent Posts