Zillow shares climate risk data, provided by First Street, on property listings across the U.S. so While home buyers are facing home prices that are at historic highs in most markets along with mortgage rates that are higher than they have been in years, they also have to budget for escalating home insurance premiums to protect the new home investment. While the insurance costs are becoming part of the new home budget, it doesn’t always mean that it’s the right coverage or that the homeowner forking out the additional dollars will be compensated when a climate threat hits. As mother nature dishes out more frequent and increasingly severe climate events, insurance companies are reacting by raising prices or dropping certain policies all together to sustain its threatened business model. A Green Builder COGNITION report data showed that younger generations are more worried about climate change impacting the value of their homes, and also report having problems accessing insurance for their homes. The same report identified a large difference in the different generations’ ability to get insurance – 77% of Gen Zs versus just 16% of Boomers feel that climate events have impacted their ability to get home insurance — due to both the increasing costs and also due to the availability of insurance in a changing marketplace. Those market changes are based on incoming data that quantifies the increasing risks. CoreLogic analyzed single family homes across the country that are exposed to a combination of hurricane wind, wildfire, inland flood, severe convective storm, and severe winter storm. The data company’s research found that more than 33,000 homes face a triple threat, or year-round extreme risk from three natural disasters. MORE FOR YOU Google Chrome 2FA Bypass Attacks Confirmed—Millions Of Users At Risk An Update On The Surprisingly Close ‘Squid […]