Why home insurance rates are rising so fast across the US – climate change plays a big role

Photo: Hurricane Ian damage in Fort Myers Beach, Florida. Photo taken on October 27, 2022. Photo credit: South Florida Water Management District via Flickr. Public domain. Article by Andrew J. Hoffman. The Conversation – September 24, 2024.

Millions of Americans have been watching with growing alarm as their homeowners insurance premiums rise and their coverage shrinks. Nationwide, premiums rose 34% between 2017 and 2023, and they continued to rise in 2024 across much of the country. To add insult to injury, those rates go even higher if you make a claim – as much as 25% if you claim a total loss of your home. […]

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