NBC News 
As climate change fuels a stark increase in extreme weather, it is also driving up the cost of homeowner’s insurance. In recent decades, Texas has seen more billion-dollar disasters than any other state, causing the price of homeowner’s insurance premiums there to skyrocket. Scott Friedman, senior investigative reporter at NBC’s owned station in Dallas-Fort Worth, has more.
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#Texas #ClimateChange #HomeInsurance
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About The Author
Like they say everything is bigger in Texas
Homes need to be built for the upcoming high winds and huge hail, winter is coming.
Hahahahahaha keep voting red
Yup,our insurance in Houston jumped nearly 40%
Well, I guess all that money they saved by living in a "no-income tax" state will just go straight into the profit-centers of the insurance companies.
there only like 2 in mine area
Filing a claim, especially for three new roofs, makes you a bad insurance risk. They wanted her to go elsewhere with that big price jump.
I'm a Florida personal lines agent and I do not write homeowners in Florida because of the issues surrounding Florida Homeowners. The rate increases will get worse. Unfortunately nobody regulated the auto and real estate industry during the pandemic to hold back big rate increases and tax increases. When you want to blame someone don't blame the politicians blame the local car dealer and real estate agents.
Greed is good until it isn't.
Yes, the FOR PROFIT insurance companies are seeing big impacts to their bottom line due to natural disasters. I don't understand why this model can stand for much longer because the insurance companies aren't going to change out of the goodness of their hearts.
With so many insurers driving up prices or completely stopping coverage in several areas of the country, what is going to happen when home owners start to walk away from mortgages, which require insurance, and banks and lenders having to eat the loans ?
Last year property insurance industry on a whole profits rose 126% to the tune of $88 billion .
Since when do you get to make up losses? You eat losses and move on, hope for sunnier days. As long as you're still profitable most of the time, you're fine. That and we HAVE to start building homes to withstand the weather. Stop doing tile roofs in a hail prone area. Stop building stick frame homes in hurricane areas. Start building into hills in tornado zones. Start building all homes on stilts in flood areas. ETC.
Unsustainable living! Go America
If you can’t afford to live in a house don’t buy one
Since the state approve all the increases in the rate for the Insurance industry they should be banned from expensive advertising on Television. I see no reason for Insurance company to spend so much money on advertising.
Told my neighbors do not file claims/ insurance companies will be charging more costs
The Biden/Harris administration has amped up the inflation rate in the housing industry over 100%. The rates have doubled.
Create your own insurance. Deposit your money in an account only for the house, car, etc
She Understands what's happening. You have multiple Catastrophic claims in so many years, and your insurance company will raise your rates to get ride of you. You are no longer profitable.
Texas… BECOMING A WHOLE OTHER COUNTRY!!!
Doesnt EVERYBODY REALIZE they TAKE MONEY dont like to pay out… Need to federalize storm damage bonds!!!
climate change, climate change…theres always been climate change…were just being fleeced…that is all. All the other states will have their turn, now that Derecho's are the norm. Theres nowhere to run and nowhere to hide.
🙄
Maybe the state of Texas should try to persuade Elon to create an insurance company that caters to only to Texas