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Homeowners insurance

A Warmer World

Rising insurance costs are making homeownership even more expensive

by Amy Scott
Mar 21, 2024
Climate risk and inflation are making insurance harder to find and mortgages harder to afford.
The main reason for higher home insurance costs is climate change, which is increasing the frequency and severity of extreme weather events.
Ricardo Arduengo/AFP via Getty Images
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California orders insurers not to drop homeowners in wildfire-prone areas

by Samantha Fields
Sep 21, 2021
With the risk of wildfire rising, it's become harder for some homeowners to find coverage.
A table and chairs remain in front of a Greenville, California, home destroyed by the Dixie Fire. State Insurance Commissioner Ricardo Lara wants insurers to reward residents who mitigate fire risk.
Justin Sullivan via Getty Images
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Why doesn't homeowners insurance cover flood damage?

by Samantha Fields
Sep 16, 2021
Short answer: Flooding cost insurance companies too much money, so the federal government stepped in.
Natural disasters have increased in scope and scale, increasing costs but not always homeowners premiums. Senior economics contributor Chris Farrell expects reform to come to the market.
Michael M. Santiago via Getty Images
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