Why home insurance may be the unlock we need
It seems like we’re in for real sticker shock everywhere we look these days. In our last issue, we wrote about electric vehicles and how public policy in the US is making them more expensive.
Today, let’s consider another looming and even more unsettling affordability challenge on the horizon: home insurance.
The cost of insuring a home has soared due to recent waves of extreme weather. On average, Americans have seen their premiums rise by about 24% over the past few years—and much more than that in weather-stressed regions. Even more problematic, coverage is simply no longer available in certain areas as insurers pull back, forcing home owners into state-run programs or leaving them exposed altogether.