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natural environment

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-

Different States, Same Problem: A Home Insurance Crisis | Insurify

The U.S. has more than 95,000 miles of shoreline — and every inch of it is at risk of climate-change-driven storm damage, flooding, and erosion. California and Florida — two of the largest, most populous, and economically robust states — account for 3.5% and 8.8% of the

Wildfire Risks Spark Insurance Woes for Utility Companies | Insurify

Homeowners aren’t the only ones facing high insurance rates and difficulty finding coverage because of wildfires. Power companies are also feeling the heat. Utilities in states affected by wildfires are struggling to find affordable insurance — if they can find it at all, according to Bloomberg. “The trouble comes after

Could New York Ban Insurers from Covering Fossil Fuel Projects? | Insurify

A new bill in the New York Legislature aims to stop insurance companies from making money on fossil fuels. The Insuring Our Future Act would prohibit insurers from writing policies for any new fossil fuel projects and mandate companies phase out underwriting of existing projects. Within five years, the legislation

Preparation Pays Off: Investing in Climate Resilience Helps the Economy, Report Shows | Insurify

Climate disasters cost the U.S. economy billions every year, but a new report found that every $1 communities invest in climate resilience and disaster preparedness saves $7 in economic costs and $6 for cleanup costs. The 2024 Climate Resiliency Report, released in June, is a collaboration between the U.

Lightning Sparked $1.2 Billion in U.S. Home Insurance Claim Payouts in 2023 | Insurify

A flash of lightning can cause devastating damage and expensive repairs for insurers and homeowners alike, and new research shows such instances are getting more severe. Insurers paid out $1.2 billion across the country for lightning-caused home insurance claims in 2023, according to data from State Farm and

Thousands of US Communities Forgo Federal Flood Insurance | Insurify

Catastrophic inland flooding in North Carolina, South Carolina, and Tennessee has made headlines across the country in recent months. Severe flooding in areas not typically associated with flood problems may have Americans wondering if they should buy federal flood insurance. But National Flood Insurance Program (NFIP) coverage may not be