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Your Homeowner’s Insurance Is Soaring Thanks to Hail From 5 Years Ago

Your Homeowner’s Insurance Is Soaring Thanks to Hail From 5 Years Ago

Your Homeowner’s Insurance Is Soaring Thanks to Hail From 5 Years Ago
News from TIME:

Brutal storms—including some that hit quite a few years ago—are causing rates on homeowner’s and flood insurance policies to skyrocket.

According to the Coloradoan, locals in northern Colorado who have grown accustomed to rates inching up annually due to simple inflation have suddenly been subject to rate hikes in the neighborhood of 30%. Insurers say that increases are necessary in light of years of natural disasters—which have resulted in years of high payouts for homeowner’s insurance claims. In Colorado, the recent streak of damaging weather began in 2009, the most expensive hail season in the state’s history, and has continued on with severe wildfires and floods.

The rate hike phenomenon is hardly limited to Colorado. Earlier this year, angry homeowners in North Carolina voiced their frustrations with the local insurance ind…………… continues on TIME

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