Washington, DC CNN —The storms pummeling California this week hit a part of the US already being battered by a home insurance crisis.
With insurers strained by climate change and inflation, many are demanding higher premiums, making it much harder to find affordable (or any) home and fire insurance.
But it is not just California; homeowners in other areas prone to weather events like Florida, Louisiana, and Texas are also facing challenges.
Meanwhile, in hurricane-battered Florida, Farmers Insurance deemed it too risky to continue insuring homes and pulled out of that market entirely.
“This isn’t just climate change, it is climate-change-plus,” Bach said.
Persons:
”, Amy Bach, United, Michael Monaghan, Sellers, you’ve, Jennifer Branchini, Bach, Hurricane Andrew, ” Bach, mitigations
Organizations:
DC CNN, Allstate, Farmers Insurance, Coldwell, California Association of Realtors, National Oceanic, Atmospheric Administration, Hurricane, FAIR, California Department of Insurance
Locations:
Washington, California, Florida , Louisiana, Texas, San Francisco, California’s, Golden State, Florida, Vermont, Colorado, Pleasanton, United, “ Florida, Louisiana