"Rising Home Insurance Costs: How Climate Change is Impacting Your Wallet"
TL;DR Summary
US home insurance rates are projected to reach a record high of $2,522 by the end of 2024, with some states facing premiums as high as $12,000 due to escalating natural disasters, insurers pulling out of certain areas, and higher fees for home repairs. Florida and Louisiana are among the worst affected, with premiums expected to rise by 7% and 23% respectively. Climate change is increasing the severity and frequency of extreme weather events, leading to a surge in insurance costs and making some high-risk areas potentially uninsurable.
- US home insurance bills to hit $2,500-a-year in 2024 due to climate change but as much as $12,000 in worst-hit areas - how much will it be in YOUR state? Daily Mail
- The home insurance market is crumbling. These owners are paying the price CNN
- Florida homeowners insurance. Higher rates ahead for state leading US News-Press
- The painful rise in home insurance costs Financial Times
- Millions of Consumers Lack Vital Homeowners Insurance, Resulting in $1.6 Trillion in Unprotected Market Value · Consumer Federation of America Consumer Federation of America
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