Homeowners in places most exposed to climate disasters are increasingly giving up on paying their insurance premiums, leaving them exposed to financial ruin, according to sweeping new government data.
Homeowners in places most exposed to climate disasters are increasingly giving up on paying their insurance premiums, leaving them exposed to financial ruin, according to sweeping new government data.
No doubt, and I know the cost is distributed across the entire pool. I just mention it as a reference point.
Our neighborhood is older homes on higher elevation vs a significant percentage of newer developments that are in the flood plain (since that is the remaining land around here) Realistically, the insurance companies and developers share some blame in this because if you don’t build houses in the higher risk areas, you are less likely to have to pay out significant claims on something. But, money upfront is all these people are going for.