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insurance

What It Would Really Take for U.S. Drivers to Go Fully Electric | Insurify

Key takeaways * Under new Environmental Protection Agency (EPA) emission standards, a projected 56% of new vehicle sales will be electric by 2032. Electric vehicle (EV) sales accounted for less than 8% of sales in 2023, according to Cox Automotive. * Car insurance for EVs costs about 20% more than for traditional

Florida Snagged Two-Thirds of National Flood Insurance Payouts in 2023 | Insurify

The National Flood Insurance Program (NFIP) paid out $913 million to U.S. homeowners last year, and $629 million of that went to residents in Florida. Major flooding from hurricanes and storm surges caused most of the payouts. The Federal Emergency Management Agency (FEMA) oversees the NFIP, which is primarily

The Most and Least Climate-Resilient Cities for Homeowners | Insurify

Once relatively foreseeable, the cost of homeownership is becoming harder for homeowners to predict as insurance premiums increase. Insurify projects a 6% increase in U.S. home insurance rates by the end of 2024 — but homeowners in states with high climate risks, like Louisiana and South Carolina, could see double-

Fewer Californians Buying Flood Insurance Despite Record-Breaking Year | Insurify

Flood insurance claims in California soared nearly 211% in 2023, reaching an all-time high of more than $59.3 million, according to National Flood Insurance Plan (NFIP) data. And despite severe flooding and storms that caused nearly $5 billion in damages last year, the number of Californians with NFIP

6.1M American Homeowners Are Without Home Insurance, Report Finds | Insurify

It’s no secret that Florida and California are in the middle of home insurance crises. But a new report from the Consumer Federation of America (CFA) suggests home insurance woes are much more widespread across the country. More than 7% of homeowners — about 6.1 million people — don’t

High Insurance Rates Driving Homeowners Out of Florida and California | Insurify

Soaring insurance costs and natural disasters are prompting some homeowners to leave areas and states where the insurance market is in crisis, according to a recent study by real estate company Redfin. Nearly 12% of Floridians who plan to move in the next year said rising insurance costs are the

Two Large California Pet Insurers Set to Hike Rates in 2024 | Insurify

More than 84,000 California pet owners could see double-digit rate increases for their pet insurance coverage this year. In April, the state’s Department of Insurance approved significant rate increases for Metropolitan General Insurance Company and American Modern Home Insurance Company. Metropolitan, which sells pet policies through MetLife