Navigating the Impact: Climate Change and Home Insurance Affordability

United StatesExtreme WeatherInflation
Written By AsYouSow
Extreme weather gives rise to surge in insurance premiums

Climate change drives structural damage, raising home insurance premiums for 90% of homeowners, particularly in disaster-prone areas.

Image by Kelly

In an insightful article published on NPR.org, the connection between climate change and home insurance pricing is examined. As natural disasters and climate-related events continue to cause significant structural damage, the financial toll is increasingly apparent. In 2021 alone, these disasters resulted in $145 billion worth of structural damage. The impact is felt directly by homeowners, with 90% experiencing an increase in their insurance premiums between 2021 and 2022, particularly in areas prone to severe weather such as Arkansas, Texas, and Colorado.

SOURCE: Read the full article by NPR

 
 
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