But that data, which makes it possible to compare insurance premiums around the country, also shows something even more surprising: As climate change makes extreme weather more likely, the cost of home insurance doesn’t line up all that closely with risk. Deciphering the cost of home insurance from one place to another is almost impossible. They obtained data showing how much millions of American households pay to mortgage service companies, which typically includes insurance. Then they deducted payments for mortgages, property taxes and other fees, leaving them with an estimate of home insurance premiums. The result is first-of-its-kind data, piercing the veil that insurers and regulators have placed over the cost of home insurance in different parts of the country.

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Persons: you’re, — Benjamin Keys, Philip Mulder, University of Wisconsin — Organizations: Wharton School, University of Pennsylvania, University of Wisconsin