Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according to a new report from the First Street Foundation, a nonprofit that works to define and communicate risks posed by climate change.
Tag: home insurance
Home Insurance Prices Up 21% as Homeowners Are Left to Deal with Climate Change, Turbulent Market
As the U.S. grapples with a surge in extreme weather and natural disasters, home insurance prices are continuing to skyrocket.
USAA Restricts Homeowners Coverage in California
Another home insurance provider will reduce future coverage in California, as other companies have done in previous months in response to costly wildfires.
More Americans Are Opting Out of Buying Homeowners Insurance
Homeowners are increasingly forgoing home insurance, gambling that the likelihood of a disaster isn’t high enough to justify the cost of a policy.
More Americans Are Losing Homeowners Coverage Due to Storms, Lawsuits and other Factors
Many Americans should start planning now for the growing possibility that their home-insurance provider won’t renew their coverage.
Velocity Risk to Exit the Homeowners Insurance Market
Velocity Risk Underwriters, the catastrophe exposed property insurance specialist managing general agency (MGA) operation, is set to exit the homeowners insurance marketplace.
State Farm Will No Longer Provide Home Insurance to New CA Customers
State Farm will no longer provide home insurance to new California customers because of wildfire risks and an increase in construction costs, the company said Friday.
Home Insurance Premiums Rise as Americans Flock to Weather-Worn States
Americans are moving fastest to Florida, Texas and other states most at risk for climate-related natural disasters despite rising home insurance premiums.
Hurricanes Moving Farther North to Pummel Millions More U.S. Homes
According to new research, shifting weather patterns influenced by climate change will push strong storms up the East Coast, increasing wind speeds and damage from gusts.
Cat-exposed Homeowner Risks Continue to Experience Large Rate Increases
The composite rate for all personal lines coverages increased 5.2% in the fourth quarter of 2022, a rate which held steady for most of the entire year.