Tricks of the TradeTrump's Second TermMy EconomyI've Always Wondered ...

Loading...

0:00
0% played
Support the fact-based journalism you rely on with a donation to Marketplace today. Give Now!
Stories Tagged as

Homeowners insurance

A Warmer World

Is the Florida insurance market really "stabilizing"?

by Amy Scott
Nov 21, 2024
After years of rising premiums, policyholders may see some relief.
Karen Clark, who runs a catastrophe modeling firm, expects claims from Hurricane Milton will be lower than her company’s initial estimate of $36 billion. Above, a home devastated by Milton in Manasota Key, Florida.
Joe Raedle/Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE
A Warmer World

Are we in the midst of a climate housing bubble?

by Amy Scott
May 28, 2024
Experts warn rising insurance costs could depress property values in risky areas.
Dave Burt at DeltaTerra Capital thinks the market is due for another correction, as homeowners in places with a growing risk of flooding and wildfire have to pay more for insurance.
Lauren Owens Lambert/AFP via Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE

Bad weather, bad news for homeowners seeking insurance in Texas

by Elizabeth Trovall
May 21, 2024
More severe weather events means higher rates and more Texans forced into state insurance plans.
Over the last year, Anna Stafford with the Texas FAIR Plan Association has seen a nearly 32% increase in people turning to last-resort insurance policies. Above, storm damage in Houston on May 17.
Logan Riely/Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE

Safety net home insurance plans are becoming the only option for many in disaster-prone states

by Scott Rodd
May 20, 2024
As private insurance companies retreat in states hit by climate-fueled disasters, safety net insurance plans are left to fill the gap.
At his two-acre property in San Diego County, Paul Felber gotten rid of much of the flammable vegetation bordering his home and spent more than $60,000 to harden it against wildfire. But home insurance companies weren’t impressed. In the last five years, the Felbers were dropped by two different companies.
Scott Rodd/KPBS
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE
A Warmer World

Rising insurance costs are making homeownership even more expensive

by Amy Scott
Mar 21, 2024
Climate risk and inflation are making insurance harder to find and mortgages harder to afford.
The main reason for higher home insurance costs is climate change, which is increasing the frequency and severity of extreme weather events.
Ricardo Arduengo/AFP via Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE

California orders insurers not to drop homeowners in wildfire-prone areas

by Samantha Fields
Sep 21, 2021
With the risk of wildfire rising, it's become harder for some homeowners to find coverage.
A table and chairs remain in front of a Greenville, California, home destroyed by the Dixie Fire. State Insurance Commissioner Ricardo Lara wants insurers to reward residents who mitigate fire risk.
Justin Sullivan via Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE

Why doesn't homeowners insurance cover flood damage?

by Samantha Fields
Sep 16, 2021
Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.
Natural disasters have increased in scope and scale, increasing costs but not always homeowners premiums. Senior economics contributor Chris Farrell expects reform to come to the market.
Michael M. Santiago via Getty Images
ListenLISTEN
HTML EMBED:
COPY
EMBED EMBED
Share Now on:
SHARE
Subscribe Using:
SUBSCRIBE SUBSCRIBE

For public good, not for profit.

Donate