We use analytics and advertising cookies to understand how this site is used. They are not set unless you agree. Declining changes nothing about what you can read here. Cookie policy
Articles tagged Climate Risk.
4 articles
Company-initiated non-renewal rates rose between 96% and 216% by region from 2018 to 2024, on the NAIC's own analysis. Cancellation mid-term is tightly limited. Declining to offer you another year is not.
A named storm deductible is a percentage of the insured value, not a flat sum. On a $300,000 home a 5% deductible is $15,000 out of pocket, and what triggers it is written into your policy, not decided by the weather.
Homeowners insurance increases are not uniform across the US. Federal data shows the national inflation-adjusted average rose about 3% while some coastal areas rose 25% or more. Here is what drives your renewal.
Most US homeowners insurance excludes flood entirely, and the federal policy that fills the gap is narrower than people expect. What the NFIP defines as a flood, the $250,000 and $100,000 ceilings, the basement rule, and the condition that decides whether you are paid depreciated value.