Climate risk is rising. It calls for a rethinking of home insurance coverage
Housing Wire
NOVEMBER 7, 2024
In California, where more than 7,000 wildfires occurred last year, the typical homeowner in many ZIP codes paid premiums as low as 0.05% of home value, according to the Times. By contrast, in parts of Alabama, Oklahoma, Louisiana and Texas, the average homeowner paid premiums of more than 2% of local home values.
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