homeowners insurance

New research argues homeowners and businesses are spending far more on insurance than claims alone can explain.

Some Altadena residents have already broken ground and laid the foundation for their new homes. Others have had to sell their property and move on.

On a single street in Altadena, 15 houses were total losses after the Eaton Fire.

According to new research, climate risks are continuing to drive homeowner’s insurance skyward.

Factors driving insurance costs include inflation, construction costs, and extreme weather.

Climate change is a major factor behind climbing home insurance premiums.

The climate crisis is raising costs for everything from housing to food.

Houston is one of the cheaper major metro real estate markets in the country. But homeownership there comes with expensive baggage, like high winds, flooding and power outages.

“We’re never going to get to affordability if we don’t get insurers back into California. And the way we do that is by bringing down the risk,” said Ricardo Lara, the California Insurance Commissioner.

The fires in Los Angeles “could make this the costliest insured loss due to wildfires in history globally,” said Karen Collins with the American Property Casualty Insurance Association.