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☆ See how badly your home could be hit by heat, wind, and bad air over the next 30 years
▼ + stars: | 2024-03-13 | by ( Dan Latu | Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Realtor.com has unveiled a set of climate risk tools that homeowners and homebuyers alike can use to learn the specific climate risks of a property. The tools, called Heat Factor, Wind Factor, and Air Factor, are available starting Wednesday and can map out a neighborhood's risks of above-normal days on the heat index, chances of experiencing wind gusts over 50 mph, and days of poor air quality. More than 40% of US homes, valued at a combined $20 trillion, are vulnerable to extreme heat, wind, and poor air quality, according to a Realtor.com analysis. Understanding your home's climate riskPrior to releasing the heat, wind, and air quality tools, Realtor.com already provided fire and flood risks for properties based on data from First Street. First Street, a climate-risk firm, is also behind the data on extreme heat, wind, and air quality now added to listings.

Persons: Realtor.com, Oscar Seikaly, Bob Stephens, homebuyers, Danielle Hale, Hale, Z, Redfin, we've Organizations: Service, Factor, Air Factor, Business, San, Sun Locations: Florida , California, Texas, Miami, San Francisco, California, Florida

☆ Floridians are relocating to the center of the state to try to avoid hurricanes — and high insurance premiums
▼ + stars: | 2023-10-08 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

AdvertisementAdvertisementSome Floridians are leaving their coastal homes due to the risk of extreme weather events and increasing insurance premiums —but they aren't going too far. They were happy to move far away from not only the risk of extreme weather events, but also the rising insurance premiums tied to coastal communities. Ocala, Florida John Coletti/Getty ImagesOf course, Ocala is not completely immune to hurricanes, as the Journal noted 2017's Hurricane Irma caused some power outages and flooding. Ocala, Florida Michael Warren/Getty ImagesThe average insurance premiums for Florida residents has tripled in the past five years, according to Insurance Information Institute data collected by the Journal. Danny Collins, who lives in Hobe Sound, Florida, just north of West Palm Beach, previously told Insider his mortgage jumped $1,000 under new insurance premiums.

Persons: —, Courtney Moody, Moody, it's, she's, Ocala , Florida John Coletti, Irma, Jo Anne, Ed Lewis, Bonita Springs . Ocala , Florida Michael Warren, Danny Collins, Bob Stephens Organizations: Ocala, Alpha, Service, Wall Street, Ocala Police Department, Getty, Florida, Insurance, Journal, Farmers Group, West Palm Beach, Dade Locations: Florida, South Florida, Ocala, Orlando, Sunshine, Miami, Ocala , Florida, Bonita Springs, Bonita Springs . Ocala , Florida, Hobe Sound, West Palm, Marathon . Ocala, Marion, Dade County, that's

☆ Millennials looking to buy a home are worrying about climate risk. They're not wrong.
▼ + stars: | 2023-09-25 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. AdvertisementAdvertisementWhile millennials logged higher concern over climate issues than their Gen Z counterparts, it turns out millennials' budget is often putting them in the path of climate risk. Zillow found 36% of millennial buyers were considering moving to an area with "greater climate risk'" compared with 19% of Gen Zers. The climate crisis puts coastal cities in Florida at a higher risk of flooding.

Persons: Zillow, Millennials, millennials, Zers, Manny Garcia, Zillow's, Garcia, Bob Stephens, Stephens, Jeffrey Greenberg, Jeremy Porter, Todd Bevington Organizations: Service, Carolinas, Insurance, First Street Foundation, AP Locations: Texas , Florida, Florida, California, Louisiana, Lahaina, Vermont, Maine, New York, Asheville , North Carolina

☆ The vicious cycle of homeowners insurance: It's increasingly expensive to protect homes in the disaster-prone areas that need it most
▼ + stars: | 2023-09-20 | by ( Dan Latu | ) www.businessinsider.com time to read: +6 min

Earlier this year, Allstate joined State Farm in no longer offering new home insurance in California over climate risk. Across the country, 83% of prospective homebuyers said climate risk factored into where they are shopping for homes, according to a recent Zillow study. Danny Collins of Hobe Sound, Florida, told Insider in July how the bank holding his mortgage raised his monthly rate by $1,000, citing increased flood insurance. Matheus told Insider. Have you moved or are you considering a move because of climate risk and extreme weather events?

Persons: Carolyn Kousky, Berkshire Hathaway, Vox, Dave Jones, they'll, Danny Collins, Collins, Bob Stephens, Stephens, Martha Flanagan, Jason Beury, Charles Matheus, Kelly Roberge, Matheus, Dan Latu Organizations: Service, The Washington Post, Environmental Defense Fund, Allstate, Berkshire, Nationwide, National Association of Insurance, . Erie Insurance Group, Washington Post, State Farm, Farmers Insurance, Insurance, Wall Street, Journal, Hobe, Marathon Locations: Florida, Kansas, New York, California, Louisiana, United States, Coral, Florida's, Hobe Sound, Arizona, Brooklyn , New York, Kansas City , Kansas, Utica , New York, dlatu@insider.com

☆ Natural disasters are making it harder for you to insure your home — and costing homeowners thousands
▼ + stars: | 2023-08-22 | by ( Dan Latu | ) www.businessinsider.com time to read: +3 min

These are the issues that are plaguing Florida," Collins told Insider. The climate crisis is impacting the cost of homeownership nationwide, as insurance companies adjust their models based on the shifting frequency and scale of natural disasters. Tell us how the climate crisis is affecting you and where you live. Homeowners left in a lurchIn California, homeowner Nick told Insider that he couldn't find affordable insurance for his $100,000 cabin in the Klamath National Forest. "We never thought the fires could be this frequent and this bad," he told Insider.

Persons: Danny Collins, Collins, it's, That's, Dan Latu, Nick, wasn't, Bob Stephens, Stephens Organizations: Service, Homeowners, Klamath National Forest, New York Times, State Farm, Insurance Locations: Florida, California, Wall, Silicon, Klamath

☆ As the climate crisis intensifies, insurers will likely reshape where people live — leaving desperate homeowners in the lurch
▼ + stars: | 2023-07-02 | by ( Catherine Boudreau | Dan Latu | ) www.businessinsider.com time to read: +9 min

Nick's dilemma illustrates how the climate crisis is touching even the most mundane aspects of owning a home. That's been stagnant because of strict state regulations on what insurance companies can charge. She's one of many homeowners who for years have bought policies from companies that aren't approved by Florida's insurance regulators. Houses that would cost $1 million or more to rebuild are not covered by the state-backed Citizens Property Insurance, leaving them vulnerable to a disaster. Now he's not sure whether he — or anyone — will ever get the chance to live in his former neighborhood again.

Persons: —, Nick, hadn't, McKinney, Hurricane, Madelyn Rodriguez, Rodriguez, Ian, Rodriguez's townhome, Bob Stephens, Stephens, It's, he'd, he's Organizations: Service, California FAIR, Insurance, Institute, State Farm, Allstate, Insurance Information Institute, Property Insurance, Los Angeles Locations: Klamath, Forest, Oregon, McKinney, California, Florida, Fort Lauderdale , Florida, Broward County, Marathon , Florida, —, Marathon

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