Mike Spiering holds Francesca Spiering as he stands in the flood water around his home after record rains fell in the area on April 13, 2023 in Hollywood, Florida. Joe Raedle | Getty Images The cost of insuring your most expensive assets has skyrocketed. While overall inflation has slowed, insurance costs are taking a bigger … Read more
A flooded street caused by the rain and storm surge from Hurricane Debby on Aug. 05, 2024, in Cedar Key, Florida. Joe Raedle | Getty Images You need a separate insurance policy for floods A house is surrounded by floodwaters from Tropical Storm Debby on Aug. 6, 2024 in Charleston, South Carolina. Miguel J. Rodríguez … Read more
An insurance crisis that has sent premiums skyrocketing and caused carriers to flee coastal states like Florida and California is spreading, and it is fundamentally changing the real estate market in states across the country. “Not only is the cost higher than people anticipated, but just the inability to secure insurance at all makes deals fall through … Read more
D3sign | Stone | Getty Images Extreme weather and climate hazards are becoming more frequent, posing a threat not only for homeowners but for renters. More than 18 million rental units across the U.S. are exposed to climate- and weather-related hazards, according to the latest American Rental Housing Report from Harvard University’s Joint Center for … Read more
Some insurance companies are pulling back coverage from fire- and flood-prone areas, leaving homeowners with limited affordable options. This trend may even affect the property value of American homes, experts say. The nation’s largest homeowner’s insurance company, State Farm, stopped accepting new applications for policies on property in California in May. Allstate announced in November … Read more
