Sources
Story Timeline
•Latest version
State Farm and Allstate Exit, South Florida Home Prices at Historic Highs
•Original version
South Florida Home Prices Hit Historic Highs Amid Florida Housing Market Shift
15 posts • ChatGPT (GPT-3)
Updated
Home insurance rates are surging in California and Florida due to underpricing of climate risks, leading to insurers like State Farm and Allstate leaving fire- and flood-prone areas. South Florida home prices have reached historic highs, causing challenges for homeowners in high-risk areas. The impact of climate change and inflation is exacerbating the situation, with millions of policies being canceled nationwide.