Reported 8 months ago
Insurers are raising premiums due to increased severe weather events across the US, leading to a 7.9% rise in home insurance costs in the last year. These rising costs are impacting property values and ownership expenses. Insurers are experiencing losses, with some states seeing premiums double. Insurers are turning to new strategies, such as introducing products for specific storm thresholds, to manage increasing costs, potentially leading to higher expenses for homeowners and impacting property values.
Source: YAHOO