The cost of homeowners insurance continues to skyrocket, far exceeding the rate of inflation, especially in high-risk areas. This crisis is fueled by a combination of climate-related disasters, increasing costs for materials and labor, as well as insurance company withdrawals from certain markets. Consumer advocates, including our guests, also blame a lack of strong regulation and corporate greed.
In this episode: A look at the insurance market – where we are and why, possible solutions, and what you can do to avoid making bad decisions when trying to lower your premiums.
You’ll also meet a homeowner in California, a victim of the Eaton wildfires, who cannot get her insurance company to fully pay for the necessary repairs.
Read Checkbook’s full report on homeowners, renters, and condo insurance, including what is and isn’t covered, how rates are determined, what to do after damage to your home, and which companies offer the best service and prices.
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