Californians are facing significant financial burdens due to rising home insurance costs, exacerbated by frequent wildfires and climate change. On a per-person basis, the costs are eye-popping. The increasing construction costs and the inability of insurance providers to raise rates meaningfully have left many providers on the brink of insolvency. This situation has led to higher bills for residents, stirring deep anger across the state. Additionally, 10 states and cities are experiencing the highest home insurance rates in a changing climate.
10 states & cities with the highest home insurance rates in a changing climate https://t.co/2km7DsF5yU
That property along the Gulf and southern Atlantic coasts will become uninsurable at rates affordable to most property owners within the next few years is a looming economic and political crisis with no easy fix. https://t.co/ZcE3eXsEcZ
More evidence climate change is costing Californians dearly https://t.co/AFJVccnC5p https://t.co/vxzH3ICYxM
This is an imperfect analogy but we kind of have had rent control for home insurance for a couple decades in California and climate change & construction costs are rendering an increasing number of providers borderline insolvent without being able to meaningfully raise rates. https://t.co/DPzFmZqgsV
Californians across the state are paying the price for wildfires β in rising bills that have stirred deep anger. On a per-person basis, the costs are eye-popping. https://t.co/bYWNWWMypL