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☆ How to make your home hurricane resistant, as scientists predict an 'extremely active' storm season
▼ + stars: | 2024-05-01 | by ( Ana Teresa Solá | ) www.cnbc.com time to read: +11 min

In this article Follow your favorite stocks CREATE FREE ACCOUNTRyersonclark | E+ | Getty ImagesMaking your home hurricane resistant can be a significant financial undertaking. In 2024, the national average cost to upgrade an entire house with hurricane windows runs between $1,128 and $10,293, or $100 and $500 per window, including installation, according to This Old House. Hurricane resistance is about preventing 'pressurization'Hurricanes are different and unpredictable storms, said Jeff Ostrowski, a housing analyst at Bankrate. If installing new hurricane windows aren't in the budget, shutters are lower-cost options to protect windows and other openings, said Chapman-Henderson. Talk to your insurer about possible discounts Strengthening your home against disasters may help lower your insurance cost.

Persons: Phil Klotzbach, Jeff Ostrowski, Leslie Chapman, Henderson, Jennifer Languell, Chapman, Kin, Melissa Cohn, William Raveis, Bankrate's Ostrowski, Ostrowski, Loretta Worters, Worters, Languell Organizations: Massachusetts Institute of Technology, Hurricanes, National Oceanic, Fluid Dynamics, Climate, Energy Solutions, Swiss, Finance, Colorado State University, Department of Atmospheric, Federal Alliance, Safe, Safe Homes, Department of Energy, Trifecta, William Raveis Mortgage, Insurance, Institute, Homeowners Locations: windstorms, U.S, Florida, In Florida, Alabama, Louisiana, dsireusa.org

☆ Droughts killed more than 12 million trees in Mississippi and no one has the money to cut them down
▼ + stars: | 2024-03-09 | by ( Kenneth Niemeyer | ) www.businessinsider.com time to read: +4 min

Droughts in 2023 killed more than 12 million pine trees in Mississippi last year. A report from the United States Department of Agriculture and the Mississippi Forestry Commission found that at least 12.5 million trees died in the state after droughts last year. Mississippi experienced heavy droughts last year starting in June that were so bad that NASA could see the Mississippi River shrinking from space in September. During the droughts, experts say that pine beetles swept across the state taking out entire patches of decades-old pine trees. "We are in a position where we are going to have to do something," Vozzo told The Clarion Ledger.

Persons: That's, Sen, Cindy Hyde, Smith, Pete Vozzo, Vozzo, McCain, Madison, De'Keither Stamps, Tate Reeves, Stamps Organizations: Service, United States Department of Agriculture, Mississippi Forestry Commission, Business, NASA, Republican, Smith, Property, Clarion, McCain Tree Service, Public Service, De'Keither, Gov Locations: Mississippi, Hyde, Madison, Jackson, Vicksburg

☆ States Dig Into Homeowners Insurance and Why It’s Hard to Buy
▼ + stars: | 2024-03-08 | by ( Emily Flitter | Christopher Flavelle | ) www.nytimes.com time to read: +1 min

State regulators around the country asked hundreds of insurance companies on Friday to provide the details of how they price and structure their homeowner policies, part of an attempt to dig into why many property owners are struggling to get and keep coverage. The National Association of Insurance Commissioners, the group representing the regulators, said that state agencies wrote to more than 400 companies asking them for detailed data on their homeowners’ insurance businesses. The association’s president, Andrew N. Mais, who is Connecticut’s insurance commissioner, said in a statement on the group’s website that the request was made to “address the critical challenge of the affordability and availability of homeowners’ insurance and the financial health of insurance companies.”Inflation and increasingly severe weather driven by climate change have recently upended many local markets for homeowners insurance. Some major insurers have pulled out of states including Florida and California. In those places, and in others hit hard by catastrophic events like windstorms and wildfires, some homeowners have slashed their coverage to deal with the rising costs of insurance.

Persons: Andrew N Organizations: National Association of Insurance Locations: Florida, California

☆ California paves way for more insurance coverage in disaster-prone areas
▼ + stars: | 2023-09-22 | by ( Cheri Mossburg | ) edition.cnn.com time to read: +2 min

CNN —California will now let insurance companies consider climate change when offering policies, in exchange for a mandate requiring them to offer coverage in wildfire-prone areas, state leaders announced on Thursday. “We are at a major crossroads on insurance after multiple years of wildfires and storms intensified by the threat of climate change,” California Insurance Commissioner Ricardo Lara said in a statement. Insurance companies will give priority to homeowners and businesses who have taken steps to harden their properties to disasters like wildfires, floods and windstorms. Regulators believe that will help Californians to move off the FAIR plan. It is critical that California’s insurance market works to protect homes and businesses in every corner of our state,” Newsom said in a statement.

Persons: “, Ricardo Lara, ” Lara, Gavin Newsom, Lara, “ We’re, ” Newsom Organizations: CNN, FAIR, California Gov, Insurance Locations: California

SACRAMENTO, Calif. (AP) — A new plan from California's insurance commissioner aims to stop the nation's top insurers from leaving the wildfire-prone state by letting them consider climate risks when setting their prices. Unlike most states, California tightly restricts how insurance companies can price policies. Companies aren't allowed to factor in current or future risks when deciding how much to charge for an insurance policy. It’s one reason why, in the past year, seven of California’s top insurance companies have paused or restricted new business in the state. On Thursday, California Insurance Commissioner Ricardo Lara said the state will write new rules to let insurers look to the future when setting their rates.

Persons: aren't, Ricardo Lara, ” Lara, Denni Ritter, Amy Bach, United, “, Ken Sweet Organizations: First Street Foundation, California, American, Casualty Insurance Association, Consumer Watchdog, Associated Press Locations: SACRAMENTO, Calif, California, Florida, New York

☆ Here are 3 costly financial surprises for first-time homebuyers — and how to prepare for them
▼ + stars: | 2023-09-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Jonathan Ernst | ReutersWith record-high home prices and soaring mortgage interest rates, homeownership has become increasingly unaffordable — and hidden costs can surprise first-time buyers, experts say. Here are three of the most common surprise homeownership expenses and how to prepare for each one, according to experts. Property taxesAs a first-time homebuyer, it's easy to overlook property taxes since you've never paid those levies directly. Home maintenanceThe cost of home repairs and maintenance can also be a hidden expense for first-time homebuyers. As a first-time homebuyer, you need to make sure you have a sufficient cushion for surprises — I'd argue 5% of the home's purchase price at least.

Persons: Jonathan Ernst, homeownership, Vince Darling, you've, Richard Auxier, Kevin Brady, — I'd, Nicole Sullivan Organizations: Reuters, Stonebridge, Urban, Brookings Tax, Wealthspire Advisors, Prism Planning Locations: Alexandria , Virginia, Zillow, Forest Lake , Minnesota, New York

Hawaiian Electric CEO Shelee Kimura received a cash bonus in 2022 based on her performance against 10 measures including profit and customer satisfaction. Wildfire risk mitigation was not on the list, according to the utility’s pay disclosures. Wildfire risk had been a concern for several years before the blaze ripped through Lahaina, a historic resort town in Maui. Idacorp declined to comment on its pay practices and how they relate to wildfire mitigation. “You don’t want a wildfire disaster to be the catalyst for a change in public policy,” said Glazer, who supports linking executive pay to wildfire mitigation.

Persons: Mike Blake, ”, Alison Silverstein, Shelee Kimura, Kimura, “, Michael Cerasoli, Michael Underhill, Brian Buckham, ” Buckham, Idacorp, Larry Glazer, Glazer, Tim McLaughlin, Tom Hals, Peter Henderson, Noeleen Walder, Rich Valdmanis, Marguerita Choy Organizations: Workers, REUTERS, Hawaiian Electric, U.S . Federal Energy Regulatory, Electric, Hawaii Wildfire Management Organization, San Diego Gas &, Global Renewable Energy Income Fund, Reuters, Capital Innovations, SEC, Portland General Electric Co, Boston’s Mayflower Advisors, Thomson Locations: Lahaina, Maui, Hawaii, U.S, California, Honolulu, Maui ., Idaho , Oregon, Washington, Idaho

I looked into getting new homeowners insurance and found I could save around $900 a year. We have also had a $2 million umbrella insurance policy for the last few years, which complicates matters even more. But in recent years, we've sold our two rental properties, so we're back down to the basics of homeowners insurance, auto coverage, and umbrella insurance. Note that you can also use a homeowners comparison site like The Zebra to compare several homeowners insurance quotes in one place. Comparing costs and coveragesUltimately, I found that switching homeowners insurance companies could help me save as much as $900 per year.

Persons: I'm, —, I've, we've Organizations: Service, Allstate, State, Liberty Mutual, GEICO Liberty Mutual, Central Indiana, Insurify, Progressive Locations: GEICO

Which type of homeowners insurance you need depends in part on the risks to your home. Southwestern Insurance Group founder David Stuart says that homeowner's insurance can provide financial protection to homeowners against unexpected losses or damages to their home and personal property. But since there are several different homeowner's insurance policies a person can choose from, making the decision of which one is right for you might feel overwhelming or confusing. There are eight different types of homeowners insurance plans — here are four ways to decide which one is right for you. Conlin shares that the HO-6 policy usually complements the homeowner's association master insurance policy, which covers the exterior of the property and shared property.

☆ 'Firmageddon': Researchers find 1.1 million acres of dead trees in Oregon
▼ + stars: | 2022-12-11 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +6 min

“We’re seeing forms of stress in all of our species of trees,” said Christine Buhl, a forest entomologist with the Oregon Department of Forestry. Trained observers peer outside both sides of the plane, looking for noticeable damage to trees. “You definitely have to have a stomach of steel.”This year, the aerial observation program flew over about 69 million acres of Washington and Oregon forest in about 246 hours. Oregon’s average temperatures have risen about 2.2 degrees Fahrenheit since 1895, according to a 2021 state climate assessment delivered to the state’s Legislature. “It was the combination of the high temperatures in the afternoon with the sun boring down,” said Chris Still, a professor in the College of Forestry at Oregon State University.

☆ Droughts, Ukraine war push global grain stocks toward worrying decade low
▼ + stars: | 2022-09-26 | by ( Tom Polansek | ) www.reuters.com time to read: +8 min

But the United States, the world's top corn producer, is now expected to harvest its smallest corn crop in three years. That would be fewer days of corn stocks than the world had in 2012, when the last global food crisis spurred riots. Ukraine is expected to harvest 25 to 27 million tonnes of corn in 2022, down from 42.1 million tonnes in 2021, following Russia's invasion, according to official estimates. read moreSanctions related to the war mean Russia has also struggled to export what is expected to be a record-large wheat crop. read moreAgricultural lender Rabobank said the next U.S. wheat crop is also at risk and will be planted in dust this autumn unless rains fall.

Your HOA's master policy will cover some water damages, but you may be responsible for other water damages depending on the situation. Does condo insurance cover water damages? So you'll need condo insurance if you live in a condo or co-op, also known as HO-6. Flooding: Like a homeowners insurance policy, condo insurance does not cover water damages due to flooding. Like a homeowners insurance policy, condo insurance does not cover water damages due to flooding.

☆ Preparing for Category 6 hurricanes, a new facility will test winds of 200 mph and storm surge
▼ + stars: | 2022-02-07 | by ( Jennifer Gray | Cnn Meteorologist | ) edition.cnn.com time to read: +22 min

Hide Caption 1 of 99 Photos: Hurricane Dorian Homes are in ruins one week after Dorian hit Marsh Harbour. Hide Caption 11 of 99 Photos: Hurricane Dorian Waves crash into boats in Halifax, Nova Scotia, as Hurricane Dorian approached on September 7. Hide Caption 27 of 99 Photos: Hurricane Dorian Emerald Isle employees work to clear a road after a tornado hit. Hide Caption 67 of 99 Photos: Hurricane Dorian Dorian left heavy damage at this resort in Hope Town, Bahamas. Hide Caption 74 of 99 Photos: Hurricane Dorian Palm trees blow in strong winds prior to Dorian's landfall in Freeport.

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