Clint Sylvester Insurance

Here is a great article why home rates continue to increase and they have less options in the marketplace. Here are some excerpts from the article:

• “Some places may be impacted very minimally, but other places could see massive increases in insurance premiums in the coming years,”
• “There are likely to be more insurance market failures in the future…. as more insurers simply refuse to underwrite policies in certain communities or go property by property.”
• “Inflation has made the cost of repairing homes pricier and home prices remain near record levels. “
• “A labor shortage means getting damaged homes repaired may take longer, requiring insurers to pay for temporary housing for policyholders longer.”

Homeowners Face Rising Insurance Rates as Climate Change Makes Wildfires, Storms More Common A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report says.